After nearly two months with no activity, ""FDIC's"":http://fdic.gov/ list of bank failures grew by one on Friday with the closure of First Community Bank of Southwest Florida (also operating as Community Bank of Cape Coral).
The Fort Myers-based bank was closed by the Florida Office of Financial Regulation, which appointed FDIC as receiver.
To protect depositors, C1 Bank has agreed to take on all of the collapsed bank's estimated $254.2 million in deposits and will purchase essentially all of its $265.7 million in total assets. The cost to the Deposit Insurance Fund will be an estimated $27.1 million.
First Community Bank of Southwest Florida is the third institution to fall this year in Florida. Nationally, the bank failure tally now sits at 17 year-to-date.