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Bank Failure #23 in 2012: Security Bank, National Association, North Lauderdale, Florida


Security Bank
Once graceful on a tight rope
Fell as gator chum

by Soylent Green is People

From the FDIC: Banesco USA, Coral Gables, Florida, Assumes All of the Deposits of Security Bank, National Association, North Lauderdale, Florida
As of March 31, 2012, Security Bank, National Association had approximately 1.0 million in total assets and .1 million in total deposits. … The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be .8 million. … Security Bank, National Association is the 23rd FDIC-insured institution to fail in the nation this year, and the third in Florida.

Earlier on the employment report:
• April Employment Report: 115,000 Jobs, 8.1% Unemployment Rate
• April Employment Summary and Discussion
• More Graphs: Construction Employment, Duration of Unemployment, Unemployment by Education and Diffusion Indexes
• All Current Employment Graphs

Calculated Risk

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