Bank of Florida, closed today by the Florida Office of Financial Regulation, which appointed the FDIC as receiver

[Jeff Tumbarello]

http://www.fdic.gov/news/news/press/2010/pr10125.html

Everbank, Jacksonville, Florida, Acquires All the Deposits of Three Affiliated Florida Institutions

Bank of Florida – Southeast; Bank of Florida – Southwest; and Bank of Florida – Tampa Bay

This Bank was a deadman walking for quite a while.

Here is a little perspective from the Lot next door to the Ft Myers Branch :cool:
http://www.northfortmyers.com/dm/fdic_bofl.wmv

I give the FDIC credit. Had we not know what we were looking for, you never would have known they were taking the bank down. I can imagine the least thing in the world you would want to do is spark a bank run while attempting to save the depositors money. More and more the FDIC has become a dealmaker/bank broker. Brokering the weak to the stronger. Taking enough of the toxic assets on their balance sheet to make things happen. I would love to get control of millions of dollars worth of assets with one of those handy, dandy loss sharing agreements at 80/20 with 80 percent of the loss being the houses loss.

We sure enjoyed the show..
:lol: :wink: