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Market
FDIC Shutters Two Banks
WASHINGTON (5/14/13)--Two U.S. banks were closed Friday and their assets were assumed by other banks, the Federal Deposit Insurance Corp. announced Friday. The two failures bring the number of total failures so far this year to 12.

Sunrise Bank, Valdosta, Ga., was assumed by Synovus Bank, Columbus, Ga. As of Dec. 31.,  Sunrise Bank had roughly $60.8 million in total assets and $57.8 million in total deposits. FDIC estimated the failure will cost the Deposit Insurance Fund $17.3 million.

Pisgah Community Bank, Asheville, N.C., was assumed by Capital Bank, N.A., Rockville, Md. The cost of the failure will be $8.9 million, FDIC estimated. Pisgah Community Bank had about $21.9 million in total assets and  $21.2 million in total deposits.


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