So much for those "stress tests" Five U.S. bank failures raises 2010 tally to 101
SAN FRANCISCO (MarketWatch) -- Five U.S. bank failures have raised the year's total to 101, according to the Federal Deposit Insurance Corp. on Friday. The largest of the five, Crescent Bank and Trust Co. in Jasper, Ga., will have its $965.7 million in deposits assumed by Renasant Bank (RNST 14.23, +0.35, +2.52%) of Tupelo, Miss. Sterling Bank of Lantana, Fla. will have its $372.4 million in deposits assumed by Iberiabank (IBKC 50.21, -0.20, -0.40%) of Lafayette, La.
First Citizens Bank and Trust Co. of Columbia, S.C. will assume the $134.3 million in deposits from Williamsburg First National Bank of Kingstree, S.C. Bennington State Bank of Salina, Kan., will assume the $28.5 million in deposits at Thunder Bank of Sylvan Grove, Kan. Finally, Roundbank of Waseca, Minn. will assumes the $108 million in deposits at Community Security Bank of New Prague, Minn. The total cost for the five banks to the deposit-insurance fund will be $319.8 million |
