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Three community-based lenders went under over the weekend in Georgia, Florida, and Pennsylvania, marking the ""first bank failures"":http://www.fdic.gov/bank/individual/failed/banklist.html of 2012. Altogether, the three closings are expected to cost the FDIC an estimated $243.8 million.
Last year, the FDIC reported 92 closings nationwide â€" a sharp drop-off from the 157 bank seizures overseen by the[IMAGE] [COLUMN_BREAK]
agency in 2010 and the 140 institutions that became insolvent in 2009.
FDIC officials maintain that bank failures stemming from the real estate downturn and the ensuing economic recession have peaked and will continue to trend lower, and so far 2012 is on pace to fall in line with that assessment.
The largest of this weekend's closings was the First State Bank in Stockbridge, Georgia. The lender's $527.5 million in deposits and $536.9 million in assets are now part of Hamilton State Bank, also headquartered in Georgia.
Central Florida State Bank in Belleview went under with $77.7 million in deposits and assets valued at $79.1 million. Its operations were picked up by CenterState Bank of Florida.
American Eagle Savings Bank of Boothwyn, Pennsylvania, was also shuttered. It had $17.7 million in deposits and $19.6 million in total assets. Capital Bank, N.A. of Rockville, Maryland, was the acquiring institution.
