The First Community Bank of Southwest Florida, located in Fort Myers, Florida, was closed down by the FDIC on Aug 2. This bank failure is the first closure in August, and the first two months, and brings the total number of failed banks in 2013 to 17.
8/2/2013 *** FL*** Fort Myers *** First Community Bank of Southwest Florida *** $27.1 million dollar estimated FDIC DIF cost. - FDIC
The total DIF for failed banks this week is $27.1 million.
If you were banking at the First Community of Southwest Florida in Fort Myers, Georgia, you are now banking at C1 (Clients First) Community Bank.
For more on the FDIC bank closure lists you can go to the FDIC website and search through their report of failed banks, credit unions, and Trusts.
In 2012, there were a total of 51 banks that went into receivership, merged with another financial institutions, or closed their doors entirely.
Entering 2013, there are nearly 1000 banks and other financial organizations on the troubled list due to mortgages, derivatives, and bad investments.
At the current rate of bank and financial institutions closing their doors so far this year, the estimated total number of closures for 2013 could reach 29.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com, and hosts the popular web blog, The Daily Economist. Ken can also be heard Friday evenings giving an weekly economic report on the Angel Clark radio show.