First bank of the night topples. Lakeside Community Bank, Sterling Hts, MI

[Dr.Phool]

Source: FDIC Press release

On Friday, April 16, 2010, Lakeside Community Bank, Sterling Heights, MI was closed by the Michigan Office of Financial and Insurance Regulation, and the FDIC was named Receiver. No advance notice is given to the public when a financial institution is closed.

The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information, which should answer many of your questions.
(snip)



An acquiring institution could not be located; therefore, the FDIC will fulfill its obligation to insured depositors by mailing checks for their insured amounts.

Principal and interest on insured accounts, through April 16, 2010, are fully insured by the FDIC, up to the insurance limit of $250,000. You will receive full payment for your insured account. Certain entitlements and different types of accounts can be insured for more than the $250,000 limit. IRA funds are insured separately from other types of accounts, up to a $250,000 limit.

All interest bearing accounts that exceed the $250,000 insurance limit and/or all interest bearing accounts that appear to be related and exceed this limit are reviewed by the FDIC to determine their ownership and insurance coverage. If you think you might have uninsured deposits, you should call the FDIC Call Center to arrange for a telephone interview with a Claims Agent at 1-800-640-2631. The Claims Agent may direct you to download and submit a particular form that will assist in expediting the processing of your claim.

edit:Four more

Riverside National Bank of Florida

Butler Bank of Lowell MA

AmericanFirst Bank of Clermont Fl.

First Federal Bank of North Florida Palatka FL.

http://www.fdic.gov/

Read more: http://www.fdic.gov/bank/individual/failed/lakeside-comm.html#Introduction

---

"No acquiring institution could be located".

This place must really suck

[Bicoastal]

1. Oh, TOPPLES.

Then this story isn't nearly as interesting as I thought it would be.

[onehandle]

4. LOL! I read it that way too. nt

[MUAD_DIB]

6. Ditto. It would definitely make dropping off a deposit more fun.

[jberryhill]

10. No, but check out that story about the lady gardening in CO. /nt

[Dr.Phool]

2. It is now. Four more minutes later.

Riverside National Bank of Florida

Butler Bank of Lowell MA

AmericanFirst Bank of Clermont Fl.

First Federal Bank of North Florida Palatka FL.

http://www.fdic.gov/

[jannyk]

7. and it is now Eight!!!

City Bank, Lynnwood, WA
Tamalpais Bank, San Rafael, CA
Innovative Bank, Oakland, CA
Butler Bank, Lowell, MA
Riverside National Bank of Florida, Fort Pierce, FL
AmericanFirst Bank, Clermont, FL
First Federal Bank of North Florida, Palatka, FL
Lakeside Community Bank, Sterling MI

[Enrique]

3. not First Bank of the Night!

I loved their vampire theme. :-(

[OhioChick]

5. You beat me to it tonight.

:)

[Dr.Phool]

8. Just happened to wake up from a many margarita lunch at the right time.

[OnlinePoker]

9. Total hit to the FDIC fund for the 8 banks closed - $985 million n/t