Financial Shutdown For 4-15-2011

On Friday April 15, 2011 the FDIC seized and closed six (6) banks. It has been awhile since this many banks were closed at once. Last week it was only two (2). Before that we have to go back to March 25 to have seen one (1) closure. Since the beginning of the year the largest group of closures had been 4 banks. Anyway here is the list of closures for this week.

1. Bartow County Bank, Cartersville, GA was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
   
   All deposit accounts, including brokered deposits, have been transferred to Hamilton State Bank, Hoschton, GA and will be available immediately. The former Bartow County Bank locations will reopen as branches of Hamilton State Bank during regular business hours.
2. New Horizons Bank, East Ellijay, GA was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
   All deposit accounts, excluding certain brokered deposits, have been transferred to Citizens South Bank, Gastonia, NC  and will be available immediately. The former New Horizons Bank location will reopen as a branch of Citizens South Bank during regular business hours.
   
3. Nexity Bank, Birmingham, AL was closed by the State of Alabama Banking Department, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
   
   All deposit accounts, excluding the Cede & Co. deposits, have been transferred to AloStar Bank of Commerce, Birmingham, AL  and will be available immediately. The former Nexity Bank location will reopen as a branch of AloStar Bank of Commerce during regular business hours.
4. Superior Bank, Birmingham, AL was closed by the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
   
   All deposit accounts, excluding the Cede & Co. deposits, have been transferred to Superior Bank, National Association (N.A.), Birmingham, AL , a newly created wholly-owned subsidiary of Community Bankorp, LLC, Houston, TX and will be available immediately. The former Superior Bank locations will reopen as branches of Superior Bank, N.A. during regular business hours.
   
   
5. Rosemount National Bank, Rosemount, MN was closed by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
   
   All deposit accounts, including brokered deposits, have been transferred to Central Bank, Stillwater, MN and will be available immediately. The former Rosemount National Bank locations will reopen as branches of Central Bank during regular business hours.
6. Heritage Banking Group, Carthage, MS was closed by the Mississippi Department of Banking and Consumer Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
   
   All deposit accounts, including brokered deposits, have been transferred to Trustmark National Bank, Jackson, MS and will be available immediately. The former Heritage Banking Group locations will reopen as branches of Trustmark National Bank during regular business hours.
   

--- go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think. follow me on Twitter and facebook

---

---