Weekend Links: 2009-09-12

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Three failed banks this weekend. The big one is Corus: assets of $7 billion.

  • FDIC: Failed Bank Information – Bank Closing Information for Venture Bank, Lacey, WA

    "As of July 28, 2009, Venture Bank had total assets of $970 million and total deposits of approximately $903 million. In addition to assuming all of the deposits of the failed bank, First-Citizens Bank & Trust Company agreed to purchase approximately $874 million of the assets. The FDIC will retain the remaining assets for later disposition."

  • FDIC: Failed Bank Information – Bank Closing Information for Corus Bank, N.A., Chicago, IL

    "As of June 30, 2009, Corus Bank had total assets of $7 billion and total deposits of approximately $7 billion. MB Financial Bank will pay the FDIC a premium of 0.2 percent to assume all of the deposits of Corus Bank. In addition to assuming all of the deposits of the failed bank, MB Financial Bank agreed to purchase approximately $3 billion of the assets, comprised mainly of cash and marketable securities. The FDIC will retain the remaining assets for later disposition. The FDIC plans to sell substantially all of the remaining assets of Corus Bank in the next 30 days in a private placement transaction. "

  • FDIC: Failed Bank Information – Bank Closing Information for Brickwell Community Bank, Woodbury, MN

    "As of July, 24, 2009, Brickwell Community Bank had total assets of $72 million and total deposits of approximately $63 million. CorTrust Bank will pay the FDIC a premium of 0.10 percent to assume all of the deposits of Brickwell Community Bank. In addition to assuming all of the deposits of the failed bank, CorTrust Bank agreed to purchase essentially all of the assets."

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    (video embedded below)

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