People's First Bank Seized by Regulators
- Thread starter SHELLY
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Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-523-8177. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Due to the Christmas Holiday, the toll-free number will not be operational between the hours of 3 p.m., Thursday, December 24, and 8:00 a.m., Monday, December 28. At that time the toll-free number will resume its normal hours.
Interested parties also can visit the FDIC's Web site at FDIC: Failed Bank Information - Bank Closing Information for Peoples First Community Bank, Panama City, FL.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $556.7 million. Hancock Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Peoples First Community Bank is the 135th FDIC-insured institution to fail in the nation this year, and the fourteenth in Florida.
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Pardon the interruption but FDIC insurance works pretty good would be my point.
Interested parties also can visit the FDIC's Web site at FDIC: Failed Bank Information - Bank Closing Information for Peoples First Community Bank, Panama City, FL.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $556.7 million. Hancock Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Peoples First Community Bank is the 135th FDIC-insured institution to fail in the nation this year, and the fourteenth in Florida.
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Pardon the interruption but FDIC insurance works pretty good would be my point.
The Hancock Bank vinyl banner was already up and covering the sign of the former People's Bank branch in Niceville by Saturday morning.
Peoples First
Am just curious?.given the takeover of Peoples First and subsequent acquisition by Hancock bank; will the Feds cover short sale losses for Hancock that occurs after the acquisition? It seems according to this article that the Fed will cover anywhere from 95% to 80% of losses on non-performing assets.
http://www.newsherald.com/articles/panama-80056-ceo-city.html
Am just curious?.given the takeover of Peoples First and subsequent acquisition by Hancock bank; will the Feds cover short sale losses for Hancock that occurs after the acquisition? It seems according to this article that the Fed will cover anywhere from 95% to 80% of losses on non-performing assets.
http://www.newsherald.com/articles/panama-80056-ceo-city.html