Another Friday, another slew of bank failures. The state of Florida leads this week’s failure list with three banking institutions being turned over to the control of the FDIC.
1. Woodlands Bank of Bluffton, South Carolina.
2. First National Bank of the South of Spartanburg, South Carolina.
3. Metro Bank of Dade County of Miami, Florida.
4. Turnberry Bank of Aventura, Florida.
5. Olde Cypress Community Bank of Clewiston, Florida.
6. Mainstreet Savings Bank of Hastings, Michigan.
Each depositor is insured up to $250,000 per insured bank. If your bank is one the above list and you have less than $250,000 on deposit with the institution, your deposit is insured. The FDIC does not notify the public of bank failures prior to the actual closure.


by Stephan Tawney on July 16, 2010