Feds Absorb Another Bank

ongoing update of: 'Beast' Swallowing Banks...and psa (public service announcement)

Failed Bank Information (from FDIC) excerpts from website
I. Introduction
On August 1, 2008, First Priority Bank, Bradenton, FL was closed by the Florida Office of Financial Regulation and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

The FDIC has issued a press release
(PR-65-2008) about the institution's closure. If you represent a media outlet and would like information about the closure, please contact David Barr with the Office of Public Affairs at 703-622-4790 or 202-898-6992 or Andrew Gray in Florida, at 202-494-1049
III. Is My Account Fully Insured?
Simply enter your account number in the search screen. If you receive the message that "your account is fully insured" a link will appear that provides you with additional information. If you receive the message that you should contact the FDIC, then a link will appear that provides you contact information.
(IV.) "All accounts that exceed the $100,000 insurance limit, and/or all accounts that appear to be related and exceed this limit, are reviewed by the FDIC to determine their ownership and insurance coverage."
Falling like dominoes
The wave of the future....banks absorbed by the FDIC. The future is here...
The above is excerpted from the FDIC web page concerning the actual bank in question. Two things are worth noting. First, the statement that "no advance notice" is given of the closure, and secondly, as most people are already aware, all accounts that exceed the $100,000 limit are AT RISK. Note also that insured accounts are only one per person, per bank. Be a good time to get the bank books straightened out if need be. Don't be caught unprepared by the next closure, because there's no telling where it will be...or the next...or the next. see: blueprint-for-us-economic-takeover
related: FDIC warns four US banks over liquidity (08-01-2008)
The banks receiving cease-and-desist orders in June were MetroPacific Bank in Irvine, California; Bank Haven in Haven, Kansas; Clarkston State Bank in Clarkston, Michigan; and Hastings State Bank in Hastings, Nebraska.

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