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Central Bank, Stillwater, MN, Assumes Deposits of Commerce Bank of Southwest Florida, Fort Meyers

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FarCenter (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Nov-20-09 07:24 PM
Original message
Central Bank, Stillwater, MN, Assumes Deposits of Commerce Bank of Southwest Florida, Fort Meyers
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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   Replies to this thread
   Any bets on how many we get tonight? I'll take a stab... 7.  truthisfreedom   Nov-20-09 07:27 PM   #1 
   Either that or another big one in CA  FarCenter   Nov-20-09 07:58 PM   #2 
   Next Friday is going to be a big day  AllentownJake   Nov-20-09 10:28 PM   #4 
      What?  HCE SuiGeneris   Nov-20-09 10:55 PM   #6 
   Do you think it helped when Eliz Warren said in the hearing  dixiegrrrrl   Nov-20-09 09:07 PM   #3 
   She better stay off small planes  AllentownJake   Nov-20-09 10:44 PM   #5 
   14 Bank Failures in Florida  pravin404   Nov-21-09 08:22 AM   #7 
      That is in Bachmann's district.  glinda   Nov-21-09 11:53 AM   #8 
         Bachmann's home town actually  CatholicEdHead   Nov-21-09 09:58 PM   #9 
 
truthisfreedom (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Nov-20-09 07:27 PM
Response to Original message
1. Any bets on how many we get tonight? I'll take a stab... 7.

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FarCenter (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Nov-20-09 07:58 PM
Response to Reply #1
2. Either that or another big one in CA
They should be doing a few hundred million per week, and this Florida bank is really small.

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AllentownJake Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Nov-20-09 10:28 PM
Response to Reply #1
4. Next Friday is going to be a big day
Perfect news dump, no one is paying any attention to anything other than shopping or Football the day after Thanks giving.

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HCE SuiGeneris Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Nov-20-09 10:55 PM
Response to Reply #4
6. What?
I didn't hear you. Wiiiiiiii!


sigh


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dixiegrrrrl Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Nov-20-09 09:07 PM
Response to Original message
3. Do you think it helped when Eliz Warren said in the hearing
"there could be a 1,000 more banks that will go under soon".
or words very close to that.

I thought to myself, " oh oh....not smart."

If you have not seen the video she said this in, it is fun to watch Geithner squirm under her questoins.

http://www.democraticunderground.com/discuss/duboard.ph...

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AllentownJake Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Nov-20-09 10:44 PM
Response to Reply #3
5. She better stay off small planes

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pravin404 (10 posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat Nov-21-09 08:22 AM
Response to Original message
7. 14 Bank Failures in Florida
14 banks failed in Florida since 2008.
Check all the banks failed in Florida at :
http://portalseven.com/finance/Failed_Banks_State_Wise....

Central Bank of Stillwater, Minnesota has acquired 4 banks till now including todays Commerce Bank of Southwest Florida.
Check more details at :
http://portalseven.com/finance/Failed_Banks_Acquirer.js...

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glinda Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat Nov-21-09 11:53 AM
Response to Reply #7
8. That is in Bachmann's district.

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CatholicEdHead (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat Nov-21-09 09:58 PM
Response to Reply #8
9. Bachmann's home town actually

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DU AdBot (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Wed Feb 10th 2010, 07:26 AM
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