medbiller777
October 5th, 2007, 01:39 PM
FDIC Approves the Assumption of the Insured Deposits of Miami Valley Bank, Lakeview, Ohio
Miami Valley, with $86.7 million in total assets and $76 million in total deposits as of October 1, 2007, was closed today by Ohio's Superintendent of Financial Institutions, and the FDIC was named receiver.
The failed bank's two offices will reopen tomorrow as branches of The Citizens Banking Company. Depositors of Miami Valley will automatically become depositors of the assuming bank.
The FDIC estimates the cost of this transaction to its Deposit Insurance Fund to be approximately $3 million. Miami Valley is the third FDIC-insured bank to fail this year, and the first in Ohio since Oakwood Deposit Bank, Oakwood, Ohio, was closed on February 1, 2002.
http://www.fdic.gov/news/news/press/2007/pr07083.html
:shocked
Miami Valley, with $86.7 million in total assets and $76 million in total deposits as of October 1, 2007, was closed today by Ohio's Superintendent of Financial Institutions, and the FDIC was named receiver.
The failed bank's two offices will reopen tomorrow as branches of The Citizens Banking Company. Depositors of Miami Valley will automatically become depositors of the assuming bank.
The FDIC estimates the cost of this transaction to its Deposit Insurance Fund to be approximately $3 million. Miami Valley is the third FDIC-insured bank to fail this year, and the first in Ohio since Oakwood Deposit Bank, Oakwood, Ohio, was closed on February 1, 2002.
http://www.fdic.gov/news/news/press/2007/pr07083.html
:shocked