Another Friday..another failed bank (company, closing, FDIC, Columbia)

[HappyTexan]

FDIC: Failed Bank Information - Bank Closing Information for The Columbian Bank and Trust Company, Topeka, KS

At least it wasn't taken over by the FDIC.

[Nor'Eastah]

Originally Posted by HappyTexan

At least it wasn't taken over by the FDIC.

Noy sure what you mean by "not taken over by the FDIC", but the FDIC is definitely covering all the deposits.

Maybe the new trend is to have some state agency close them down, so they don't show up so quickly as having failed? I dunno...looks like a regular FDIC-insured failure to me!

[bhcompy]

the first bank that went down had the FDIC appointed as the administrator, meaning they're not just insuring the deposits, they're also running the business. that is what he meant

[HappyTexan]

Yes, that is what I meant..this was not like another IndyMac.

This bank had accounts transferred to Citizens Bank & Trust.