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Dennis Santiago

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Four More Bank Closures Mark the Week of January 27, 2012

Posted: 01/27/2012 9:14 pm

The FDIC shuttered four additional banks today bringing the 2012 count to seven. The four banks closed were BankEast in Knoxville, Tenn., Patriot Bank Minnesota in Forest Lake, Minn., Tennessee Commerce Bank in Franklin, Tenn. and First Guaranty Bank and Trust Company of Jacksonville in Jacksonville, Fla. The general pattern of the FDIC closing banks with weak operating characteristics and deepening asset quality troubles continues. All four banks found buyers and will be spending the weekend changing over to their new owners.

Forensic analysis pages for these banks can be found here:

First Guaranty Bank and Trust Company of Jacksonville -- Jacksonville, FL 1/27/2012

Patriot Bank Minnesota -- Forest Lake, MN 1/27/2012

Tennessee Commerce Bank -- Franklin, TN 1/27/2012

BankEast -- Knoxville, TN 1/27/2012

 

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