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Central Bank, Stillwater, MN, Assumes Deposits of Commerce Bank of Southwest Florida, Fort Meyers [View All]

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FarCenter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-20-09 06:24 PM
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Central Bank, Stillwater, MN, Assumes Deposits of Commerce Bank of Southwest Florida, Fort Meyers
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Source: FDIC

Commerce Bank of Southwest Florida, Fort Myers, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of the deposits of Commerce Bank of Southwest Florida.

<SNIP>

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $23.6 million.

Read more: http://www.fdic.gov/news/news/press/2009/pr09211.html



Starting small in Florida this evening.
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