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The Federal Deposit Insurance Corp. has charged nine former directors of Southern Community Bank in Fayetteville, Ga., with approving risky loans that later led to its collapse in 2009.
June 21 -
As the volume of Federal Deposit Insurance Corp. suits against failed-bank officers and directors continues to rise, few cases are approaching anything close to an outcome.
June 17 -
The Federal Deposit Insurance Corp. knows it must put some meat on the bones of its process for dismantling large financial firms, but is struggling to strike the right balance between providing too much detail and not enough.
June 14
Community Bank Shares of Indiana (CBIN) in New Albany recorded a nearly $1 million charge in the second quarter for a failed-bank acquisition.
The $807 million-asset company said it expects to report $950,000 in quarterly expenses tied to integrating First Federal Bank in Lexington, Ky., according to a Wednesday
Community Bank said it expects the integration of First Federal to cost up to $1.3 million in total, with $800,000 going toward converting the failed banks data to a new system. Community Bank also said it expects the branch closings and systems integration, set for August, to reduce the costs of the operations it obtained from First Federal by 75%.
First Federal was
Community Bank had $807 million in assets and 27 branches as of March 31, according to the FDIC.
