On Friday, as thousands of offices and families across the United States debated whether the 3 colors of traditional candy corn tasted any different, the FDIC was busy.
The press releases all had pretty much the same verbiage: "(Name of Bank, State) was closed today by the (State) Office of Financial Regulation or OCC, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with (Rescue Bank)." Progress Bank of Florida, FL is now Bay Cities Bank (FL). First Bank of Jacksonville (FL) is now Ameris Bank (GA). The Gordon Bank (GA) is now Morris Bank (GA). The First National Bank of Barnesville (GA) is now United Bank (GA). First Suburban National Bank (IL) is now Seaway Bank and Trust Company (IL). Hillcrest Bank (KS) is now Hillcrest Bank (KS). Lastly, the FDIC approved the payout of the insured deposits of First Arizona Savings (AZ).
From: http://ping.fm/YoMdX
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