FIs closed: Mid City Bank, Omaha, Nebraska, USA
On Friday, 4 November, 2011, Mid City Bank, Inc., Omaha, NE was closed by the Nebraska Department of Banking and Finance and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.
To protect the depositors, the FDIC entered into a purchase and assumption agreement with Purdum State Bank, Purdum, Nebraska, to assume all of the deposits of Mid City Bank, Inc.
Beginning Saturday 5 November, Purdum State Bank will change its name to Premier Bank, at which time the five branches of Mid City Bank, Inc., will reopen during their normal business hours under the new name.
As of 30 September, 2011, Mid City Bank, Inc. had approximately USD106.1 million in total assets and USD105.5 million in total deposits.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be USD12.7 million.
Mid City Bank, Inc. is the 86th FDIC-insured institution to fail in the USA this year and the first in Nebraska.
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