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Banks Acquiring Failed Banks

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ALL 2009 Banks 2008 Banks Big Banks Medium Banks Small Banks

Banks failed in 2010

# 107

Failed Bank	:	The Cowlitz Bank - Longview, Washington
Date Closed	:	July 30, 2010
Assets	:	$529.3 million
Deposits	:	$513.9 million

Acquiring Bank	:	Heritage Bank - Olympia, Washington
Assets Purchased	:	$329.5 million
Deposits Purchased	:	$513.9 million
Premium paid for acquiring deposits	:	1.0 percent
Loss Sharing Agreement with FDIC for assets	:	$160.9 million
Cost to the Deposit Insurance Fund	:	$68.9 million

Notes

Heritage Bank paid the FDIC a premium of 1.0 percent for the deposits of The Cowlitz Bank. In addition to assuming all of the deposits of the failed bank, Heritage Bank agreed to purchase approximately $329.5 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

# 106

Failed Bank	:	Coastal Community Bank - Panama City Beach, Florida
Date Closed	:	July 30, 2010
Assets	:	$372.9 million
Deposits	:	$363.2 million

Acquiring Bank	:	Centennial Bank - Conway, Arkansas
Assets Purchased	:	$372.9 million
Deposits Purchased	:	$363.2 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$302.8 million
Cost to the Deposit Insurance Fund	:	$94.5 million

Notes

Centennial Bank did not pay the FDIC a premium for the deposits of the failed banks. In addition to assuming all the deposits from the two Florida institutions, Centennial Bank will purchase virtually all their assets.

# 105

Failed Bank	:	Bayside Savings Bank - Port Saint Joe, Florida
Date Closed	:	July 30, 2010
Assets	:	$66.1 million
Deposits	:	$52.4 million

Acquiring Bank	:	Centennial Bank - Conway, Arkansas
Assets Purchased	:	$66.1 million
Deposits Purchased	:	$52.4 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$48.3 million
Cost to the Deposit Insurance Fund	:	$16.2 million

Notes

# 104

Failed Bank	:	Northwest Bank & Trust - Acworth, Georgia
Date Closed	:	July 30, 2010
Assets	:	$167.7 million
Deposits	:	$159.4 million

Acquiring Bank	:	State Bank and Trust Company - Macon, Georgia
Assets Purchased	:	$167.7 million
Deposits Purchased	:	$159.4 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$107.6 million
Cost to the Deposit Insurance Fund	:	$39.8 million

Notes

State Bank and Trust Company did not pay the FDIC a premium for the deposits of NorthWest Bank and Trust. In addition to assuming all of the deposits of the failed bank, State Bank and Trust Company agreed to purchase essentially all of the failed bank's assets.

# 103

Failed Bank	:	Home Valley Bank - Cave Junction, Oregon
Date Closed	:	July 23, 2010
Assets	:	$251.80 million
Deposits	:	$229.6 million

Acquiring Bank	:	South Valley Bank & Trust - Klamath Falls, Oregon
Assets Purchased	:	$251.8 million
Deposits Purchased	:	$229.6 million
Premium paid for acquiring deposits	:	1.05 percent
Loss Sharing Agreement with FDIC for assets	:	$211.6 million
Cost to the Deposit Insurance Fund	:	$37.1 million

Notes

South Valley Bank & Trust will pay the FDIC a premium of 1.05 percent to assume all of the deposits of Home Valley Bank. In addition to assuming all of the deposits of the failed bank, South Valley Bank & Trust agreed to purchase essentially all of the assets.

# 102

Failed Bank	:	SouthwestUSA Bank - Las Vegas, Nevada
Date Closed	:	July 23, 2010
Assets	:	$214.0 million
Deposits	:	$186.7 million

Acquiring Bank	:	Plaza Bank - Irvine, California
Assets Purchased	:	$137.3 million
Deposits Purchased	:	$186.7 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$111.3 million
Cost to the Deposit Insurance Fund	:	$74.1 million

Notes

Plaza Bank did not pay the FDIC a premium for the deposits of SouthwestUSA Bank. In addition to assuming all of the deposits of the failed bank, Plaza Bank agreed to purchase approximately $137.3 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

# 101

Failed Bank	:	Community Security Bank - New Prague, Minnesota
Date Closed	:	July 23, 2010
Assets	:	$108.0 million
Deposits	:	$99.7 million

Acquiring Bank	:	Roundbank - Waseca, Minnesota
Assets Purchased	:	$108.0 million
Deposits Purchased	:	$99.7 million
Premium paid for acquiring deposits	:	0.89 percent
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$18.6 million

Notes

Roundbank will pay the FDIC a premium of 0.89 percent to assume all of the deposits of Community Security Bank. In addition to assuming all of the deposits of the failed bank, Roundbank agreed to purchase essentially all of the assets.

# 100

Failed Bank	:	Thunder Bank - Sylvan Grove, Kansas
Date Closed	:	July 23, 2010
Assets	:	$32.6 million
Deposits	:	$28.5 million

Acquiring Bank	:	The Bennington State Bank - Salina, Kansas
Assets Purchased	:	$32.6 million
Deposits Purchased	:	$28.5 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$4.5 million

Notes

The Bennington State Bank did not pay the FDIC a premium for the deposits of Thunder Bank. In addition to assuming all of the deposits of the failed bank, The Bennington State Bank agreed to purchase essentially all of the assets.

# 99

Failed Bank	:	Williamsburg First National Bank - Kingstree, South Carolina
Date Closed	:	July 23, 2010
Assets	:	$139.3 million
Deposits	:	$134.3 million

Acquiring Bank	:	First Citizens Bank and Trust Company - Columbia, South Carolina
Assets Purchased	:	$139.3 million
Deposits Purchased	:	$134.3 million
Premium paid for acquiring deposits	:	0.5 percent
Loss Sharing Agreement with FDIC for assets	:	$64.4 million
Cost to the Deposit Insurance Fund	:	$64.4 million

Notes

First Citizens Bank and Trust Company, Inc. will pay the FDIC a premium of 0.5 percent to assume all of the deposits of Williamsburg First National Bank. In addition to assuming all of the deposits of the failed bank, First Citizens Bank and Trust Company, Inc. agreed to purchase essentially all of the assets.

# 98

Failed Bank	:	Crescent Bank and Trust Company - Jasper, Georgia
Date Closed	:	July 23, 2010
Assets	:	$1.01 billion
Deposits	:	$965.7 million

Acquiring Bank	:	Renasant Bank - Tupelo, Mississippi
Assets Purchased	:	$1.01 billion
Deposits Purchased	:	$965.7 million
Premium paid for acquiring deposits	:	1.0 percent
Loss Sharing Agreement with FDIC for assets	:	$617.4 million
Cost to the Deposit Insurance Fund	:	$242.4 million

Notes

Renasant Bank will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Crescent Bank and Trust Company. In addition to assuming all of the deposits of the failed bank, Renasant Bank agreed to purchase essentially all of the assets.