United Americas Bank, NA
The OCC also took over United Americas Bank, which had $242.3 million in total assets. As receiver, the FDIC arranged for State Bank and Trust Company of Macon, Ga. to assume the failed institution's assets and deposits, with the agency agreeing to share in losses on $195.8 million of the acquired assets.
State Bank and Trust Company is the main subsidiary of State Bank Financial (STBZ.PK).
The FDIC estimated the cost of United Americas Bank's failure to the deposit insurance fund would be $75.8 million.
Thorough Bank Failure CoverageAll bank and thrift closures since the beginning of 2008 are detailed in TheStreet's interactive bank failure map: The bank failure map is color-coded, with the states having the greatest number of failures highlighted in dark gray, and states with no failures in light green. By moving your mouse over a state you can see its combined 2008-2010 totals. Then click the state to open a detailed map pinpointing the locations and providing additional information for each bank failure.
Philip van Doorn. >To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn. >To submit a news tip, send an email to: email@example.com.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts