Non chex systems bank and Rants

• FDIC Press Release
• Closed Bank: First Security National Bank, Norcross, GA
• Size: 4 branches, $128 million in assets, $123 million in deposits
• Possible Uninsured Deposits: All deposits transferred, except some brokered deposits
• Acquiring Bank: State Bank and Trust Company, Macon, GA
• Rate Changes: State Bank and Trust Company will review rates
• Estimated Cost to Deposit Insurance Fund: $30.1 million
• Financial Ratings: 1 star (lowest) at Bankrate.com, 0 star (lowest) at BauerFinancial

127th Bank Failure of 2009 (24th in GA)

• FDIC Press Release
• Closed Bank: The Tattnall Bank, Reidsville, GA
• Size: 2 branches, $49.6 million in assets, $47.3 million in deposits
• Possible Uninsured Deposits: All deposits transferred, excluding some brokered deposits
• Acquiring Bank: HeritageBank of the South, Albany, GA
• Rate Changes: HeritageBank of the South will review rates
• Estimated Cost to Deposit Insurance Fund: $13.9 million
• Financial Ratings: 1 star (lowest) at Bankrate.com, 0 star (lowest) at BauerFinancial

128th Bank Failure of 2009 (2nd in OH)

• FDIC Press Release
• Closed Bank: AmTrust Bank, Cleveland, OH
• Size: 66 branches, $12.0 billion in assets, $8.0 billion in deposits
• Possible Uninsured Deposits: All deposits transferred
• Acquiring Bank: New York Community Bank, Westbury, NY
• Rate Changes: New York Community Bank will review rates
• Estimated Cost to Deposit Insurance Fund: $2.0 billion
• Financial Ratings: 1 star (lowest) at Bankrate.com, 0 star (lowest) at BauerFinancial

129th Bank Failure of 2009 (20th in IL)

• FDIC Press Release
• Closed Bank: Benchmark Bank, Aurora, IL
• Size: branches, $170.0 million in assets, $181.0 million in deposits
• Possible Uninsured Deposits: All deposits transferred, except some brokered deposits
• Acquiring Bank: MB Financial Bank, N.A., Chicago IL
• Rate Changes: MB Financial Bank, N.A. will review rates
• Estimated Cost to Deposit Insurance Fund: $64 million
• Financial Ratings: 1 star (lowest) at Bankrate.com, 0 star (lowest) at BauerFinancial

130th Bank Failure of 2009 (1st in VA)

• FDIC Press Release
• Closed Bank: Greater Atlantic Bank, Reston, VA
• Size: 5 branches, $203.0 million in assets, $179.0 million in deposits
• Possible Uninsured Deposits: All deposits transferred
• Acquiring Bank: Sonabank, McLean, VA
• Rate Changes: Sonabank will review rates
• Estimated Cost to Deposit Insurance Fund: $35 million
• Financial Ratings: 1 star (lowest) at Bankrate.com, 0 star (lowest) at BauerFinancial

Bankrate’s and BauerFinancial’s ratings are based on 6/30/09 data