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Banks Acquiring Failed Banks

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Banks failed in 2010

# 147

Failed Bank	:	Gulf State Community Bank - Carrabelle, Florida
Date Closed	:	November 19, 2010
Assets	:	$112.1 million
Deposits	:	$112.2 million

Acquiring Bank	:	Centennial Bank - Conway, Arkansas
Assets Purchased	:	$112.1 million
Deposits Purchased	:	$112.2 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$84.4 million
Cost to the Deposit Insurance Fund	:	$42.7 million

Notes

As of September 30, 2010, Gulf State Community Bank had approximately $112.1 million in total assets and $112.2 million in total deposits. Centennial Bank did not pay the FDIC a premium to assume all of the deposits of Gulf State Community Bank. In addition to assuming all of the deposits of the failed bank, Centennial Bank agreed to purchase essentially all of the assets.

# 146

Failed Bank	:	Copper Star Bank - Scottsdale, Arizona
Date Closed	:	November 12, 2010
Assets	:	$204.0 million
Deposits	:	$190.2 million

Acquiring Bank	:	Stearns Bank National Association - St. Cloud, Minnesota
Assets Purchased	:	$204.0 million
Deposits Purchased	:	$190.2 million
Premium paid for acquiring deposits	:	1.0 percent
Loss Sharing Agreement with FDIC for assets	:	$165.2 million
Cost to the Deposit Insurance Fund	:	$43.6 million

Notes

As of September 30, 2010, Copper Star Bank had approximately $204.0 million in total assets and $190.2 million in total deposits. Stearns Bank N.A. will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Copper Star Bank. In addition to assuming all of the deposits, Stearns Bank N.A. agreed to purchase essentially all of the failed bank's assets.

# 145

Failed Bank	:	Darby Bank & Trust Co. - Vidalia, Georgia
Date Closed	:	November 12, 2010
Assets	:	$654.7 million
Deposits	:	$587.6 million

Acquiring Bank	:	Ameris Bank - Moultrie, Georgia
Assets Purchased	:	$654.7 million
Deposits Purchased	:	$587.6 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$560.2 million
Cost to the Deposit Insurance Fund	:	$136.2 million

Notes

As of September 30, 2010, Darby Bank & Trust Co. had total assets of $654.7 million and total deposits of $587.6 million.

# 144

Failed Bank	:	Tifton Banking Company - Tifton, Georgia
Date Closed	:	November 12, 2010
Assets	:	$143.7 million
Deposits	:	$141.6 million

Acquiring Bank	:	Ameris Bank - Moultrie, Georgia
Assets Purchased	:	$143.7 million
Deposits Purchased	:	$141.6 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$560.2 million
Cost to the Deposit Insurance Fund	:	$24.6 million

Notes

As of September 30, 2010, Tifton Banking Company had total assets of $143.7 million and total deposits of $141.6 million.

# 143

Failed Bank	:	First Vietnamese American Bank - Westminster, California
Date Closed	:	November 05, 2010
Assets	:	$48.0 million
Deposits	:	$47.0 million

Acquiring Bank	:	Grandpoint Bank - Los Angeles, California
Assets Purchased	:	$48.0 million
Deposits Purchased	:	$47.0 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$9.6 million

Notes

As of September 30, 2010, First Vietnamese American Bank had approximately $48.0 million in total assets and $47.0 million in total deposits. Grandpoint Bank did not pay the FDIC a premium for the deposits of First Vietnamese American Bank. In addition to assuming all of the deposits of the failed bank, Grandpoint Bank agreed to purchase essentially all of the assets.

# 142

Failed Bank	:	Pierce Commercial Bank - Tacoma, Washington
Date Closed	:	November 05, 2010
Assets	:	$221.1 million
Deposits	:	$193.5 million

Acquiring Bank	:	Heritage Bank - Olympia, Washington
Assets Purchased	:	$221.1 million
Deposits Purchased	:	$193.5 million
Premium paid for acquiring deposits	:	1.0 percent
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$21.3 million

Notes

As of September 30, 2010, Pierce Commercial Bank had approximately $221.1 million in total assets and $193.5 million in total deposits. Heritage Bank will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Pierce Commercial Bank. In addition to assuming all of the deposits of the failed bank, Heritage Bank agreed to purchase essentially all of the assets.

# 141

Failed Bank	:	Western Commercial Bank - Woodland Hills, California
Date Closed	:	November 05, 2010
Assets	:	$98.6 million
Deposits	:	$101.1 million

Acquiring Bank	:	First California Bank - Westlake Village, California
Assets Purchased	:	$98.6 million
Deposits Purchased	:	$101.1 million
Premium paid for acquiring deposits	:	0.5 percent
Loss Sharing Agreement with FDIC for assets	:	$83.9 million
Cost to the Deposit Insurance Fund	:	$25.2 million

Notes

As of September 30, 2010, Western Commercial Bank had approximately $98.6 million in total assets and $101.1 million in total deposits. First California Bank will pay the FDIC a premium of 0.5 percent to assume all of the deposits of Western Commercial Bank. In addition to assuming all of the deposits of the failed bank, First California Bank agreed to purchase essentially all of the assets.

# 140

Failed Bank	:	K Bank - Randallstown, Maryland
Date Closed	:	November 05, 2010
Assets	:	$538.3 million
Deposits	:	$500.1 million

Acquiring Bank	:	Manufacturers and Traders Trust Company (M&T Bank) - Manufacturers and Traders Trust Company (M&T Bank)
Assets Purchased	:	$410.8 million
Deposits Purchased	:	$500.1 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$289.0 million
Cost to the Deposit Insurance Fund	:	$198.4 million

Notes

As of September 30, 2010, K Bank had approximately $538.3 million in total assets and $500.1 million in total deposits. M&T Bank did not pay the FDIC a premium for the deposits of K Bank. In addition to assuming all of the deposits of the failed bank, M&T Bank agreed to purchase approximately $410.8 million of the failed bank's assets. The FDIC will retain the balance of the assets for later disposition.

# 139

Failed Bank	:	First Arizona Savings, A FSB - Scottsdale, Arizona
Date Closed	:	October 22, 2010
Assets	:	$272.2 million
Deposits	:	$198.8 million

Acquiring Bank	:	- - -
Assets Purchased	:	-
Deposits Purchased	:	-
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$32.8 million

Notes

The FDIC was unable to find another financial institution to take over the banking operations of First Arizona Savings, A FSB. The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of First Arizona Savings, A FSB, Scottsdale, Arizona.

# 138

Failed Bank	:	Hillcrest Bank - Overland Park, Kansas
Date Closed	:	October 22, 2010
Assets	:	$1.65 billion
Deposits	:	$1.54 billion

Acquiring Bank	:	Hillcrest Bank, N.A. - Overland Park, Kansas
Assets Purchased	:	$1.65 billion
Deposits Purchased	:	$1.54 billion
Premium paid for acquiring deposits	:
Loss Sharing Agreement with FDIC for assets	:	$1.15 billion
Cost to the Deposit Insurance Fund	:	$329.7 million

Notes

As of June 30, 2010, Hillcrest Bank had approximately $1.65 billion in total assets and $1.54 billion in total deposits. Hillcrest Bank, N.A. did not pay the FDIC a premium for the deposits of Hillcrest Bank. In addition to assuming all of the deposits of the failed bank, Hillcrest Bank, N.A. agreed to purchase essentially all of the assets. Hillcrest Bank, National Association, Overland Park, Kansas is a newly-chartered bank subsidiary of NBH Holdings Corp., Boston,