On Friday, the Arizona Department of Financial Institutions closed Desert Hills Bank, headquartered in Phoenix, Arizona, and the FDIC was named receiver. As receiver, the FDIC entered into a purchase and assumption agreement with New York Community Bancorp, headquartered in Westbury, NY to assume all of the deposits of Desert Hills Bank.
On Friday, the Florida Office of Financial Regulation closed Premier American Bank, headquartered in Miami, Florida, and the FDIC was named receiver.
On Friday, the Minnesota Department of Commerce closed St. Stephen State Bank, headquartered in St. Stephens, Minnesota, and the FDIC was named receiver. As receiver, the FDIC entered into a purchase and assumption agreement with First State Bank of St. Joseph, headquartered in St. Joseph, Minnesota, to assume all of the deposits of St. Stephen State Bank.
Yesterday, the FDIC announced that it had entered into a purchase and assumption agreement to assume the assets and deposits of the recently created Independent Bankers’ Bank Bridge Bank (IBBBB). IBBBB was created by the FDIC on December 18, 2009, to take over the operations of The Independent Bankers’ Bank, headquartered in Springfield, Illinois.
On Friday, the OCC closed Marshall Bank , National Association, headquartered in Hallock, Minnesota, and the FDIC was named receiver.
On Friday, the Missouri Division of Finance closed Bank of Leeton, headquartered in Leeton, Missouri, and the FDIC was named receiver.
On Friday, the Oregon Division of Finance and Corporate Securities closed Columbia River Bank, headquartered in Dalles, Oregon, and the FDIC was named receiver.