Today, the U.K. Treasury and Northern Rock plc separatelyannounced that the restructuring of Northern Rock will take place on January 1, 2010 (Transfer Date).
Yesterday, the OCC closed Flagship National Bank, headquartered in Bradenton, Florida, and the FDIC was named as receiver.
On Friday, the OTS closed Bradford Bank, headquartered in Baltimore, Maryland, and named the FDIC as receiver.
On April 10, 2009, the North Carolina Office of Commissioner of Banks closed Cape Fear Bank, headquartered in Wilmington, North Carolina, and the FDIC was named as receiver.
On Tuesday, the FDIC held the first in a series of proposed roundtable discussions on the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which is intended to bring transparency to the rulemaking process. Government officials, industry executives, academics and investors were invited to participate in the discussion.
On Friday, the Kansas Office of the State Bank Commissioner closed Thunder Bank, headquartered in Sylvan Grove, Kansas, and appointed the FDIC as receiver for the bank. As receiver, the FDIC entered into a purchase and assumption agreement with Bennington State Bank, headquartered in Salina, Kansas, to assume all of the deposits of Thunder Bank.
On Friday, the Nevada Financial Institutions Division closed Sun West Bank, headquartered in Law Vegas, Nevada, and appointed the FDIC as receiver. As receiver, the FDIC entered into a purchase and assumption agreement with City National Bank, headquartered in Los Angeles, California, to assume all of the deposits of the failed bank.
Friday, the Florida Office of Financial Regulation closed The Bank of Bonifay, headquartered in Bonifay, Florida, and the FDIC was appointed receiver. As receiver, the FDIC entered into a purchase and assumption agreement with First Federal Bank, headquartered in Lake City, Florida, to assume all of the deposits of The Bank of Bonifay.