Friday, June 17, 2011

Financial Shutdown Friday 6/17/11

Tonight two banks were seized by the Federal Deposit Insurance Corporation (FDIC).
On Friday, June 17, 2011, McIntosh State Bank, Jackson, 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 McIntosh State Bank locations will reopen as branches of Hamilton State Bank during regular business hours.

- FDIC


The other bank closed today was:

First Commercial Bank of Tampa Bay, Tampa, FL was closed by the Florida Office of Financial Regulation, 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 Stonegate Bank, Fort Lauderdale, FL ("assuming institution") and will be available immediately. The former First Commercial Bank of Tampa Bay locations will reopen as branches of Stonegate Bank during regular business hours.

- FDIC


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