Maybe I'm missing something here but why would they be taking over a bank, or any business for that matter, that has $108 million in assets and $99.7 million in deposits (liabilities)? I wish my personal finances were that good! There must be more going on than what is in the press release?
However I guess by not hiring you the problem may have been concerns about mismanagement :)
Gary--in bank-speak, assets are loans. What we have here is a situation where the bank can not plausibly achieve its required reserve ratio. Hence FDIC needs to come in with the difference between assets and deposits ($8 million) plus the reserve ratio funds ($10 million)
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Maybe I'm missing something here but why would they be taking over a bank, or any business for that matter, that has $108 million in assets and $99.7 million in deposits (liabilities)? I wish my personal finances were that good! There must be more going on than what is in the press release?
However I guess by not hiring you the problem may have been concerns about mismanagement :)
Gary--in bank-speak, assets are loans. What we have here is a situation where the bank can not plausibly achieve its required reserve ratio. Hence FDIC needs to come in with the difference between assets and deposits ($8 million) plus the reserve ratio funds ($10 million)
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