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Bank Failures #10 & 11 in 2014: Two Valley Banks

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From the FDIC: Great Southern Bank, Reeds Spring, Missouri, Assumes All of the Deposits of Valley Bank, Moline, Illinois

As of March 31, 2014, Valley Bank had approximately 6.4 million in total assets and 0.0 million in total deposits. … The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be .4 million. … Valley Bank is the 10th FDIC-insured institution to fail in the nation this year, and the third in Illinois.

From the FDIC: Landmark Bank, National Association, Fort Lauderdale, Florida, Assumes All of the Deposits of Valley Bank, Fort Lauderdale, Florida

As of March 31, 2014, Valley Bank had approximately .8 million in total assets and .5 million in total deposits. … The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be .7 million. … Valley Bank is the 11th FDIC-insured institution to fail in the nation this year, and the first in Florida.

A two for Friday!
Calculated Risk

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