Appalachian Community Bank, F.S.B., McCaysville, Georgia, was closed today by The Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Peoples Bank of East Tennessee, Madisonville, Tennessee, to assume all of the deposits of Appalachian Community Bank, F.S.B., except for brokered deposits and certain out-of-state certificates of deposit (CD).

The three branches of Appalachian Community Bank, F.S.B. will reopen during normal business hours beginning Saturday as branches of Peoples Bank of East Tennessee. Depositors of Appalachian Community Bank, F.S.B. will automatically become depositors of Peoples Bank of East Tennessee. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Appalachian Community Bank, F.S.B. should continue to use their existing branch until they receive notice from Peoples Bank of East Tennessee that it has completed systems changes to allow other Peoples Bank of East Tennessee branches to process their accounts as well.

This evening and over the weekend, depositors of Appalachian Community Bank, F.S.B. can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, Appalachian Community Bank, F.S.B. had approximately $68.2 million in total assets and $76.4 million in total deposits. Peoples Bank of East Tennessee did not pay the FDIC a premium for the deposits of Appalachian Community Bank, F.S.B. In addition to assuming all of the deposits of the failed bank, Peoples Bank of East Tennessee agreed to purchase approximately $67.5 million of the failed bank’s assets. The FDIC will retain the remaining assets for later disposition.

The FDIC and Peoples Bank of East Tennessee entered into a loss-share transaction on $46.4 million of Appalachian Community Bank, F.S.B.’s assets. Peoples Bank of East Tennessee will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-350-2746. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/appalachianga.html.

On Monday morning, the FDIC will mail checks to those customers with out-of-state CDs, as long as the funds were not used as collateral for a loan. Customers with brokered deposits should contact their broker directly to obtain information on the status of their funds.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $26.0 million. Compared to other alternatives, Peoples Bank of East Tennessee’s acquisition was the least costly resolution for the FDIC’s DIF. Appalachian Community Bank, F.S.B. is the 154^th FDIC-insured institution to fail in the nation this year, and the 20^th in Georgia. The last FDIC-insured institution closed in the state was Chestatee State Bank, Dawsonville, earlier today.

The Bank of Miami, National Association, Coral Gables, Florida, was closed today by The Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with 1^st United Bank, Boca Raton, Florida, to assume all of the deposits of The Bank of Miami, N.A.

The three branches of The Bank of Miami, N.A. will reopen on Monday as branches of 1^st United Bank. Depositors of The Bank of Miami, N.A. will automatically become depositors of 1^st United Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of The Bank of Miami, N.A. should continue to use their existing branch until they receive notice from 1^st United Bank that it has completed systems changes to allow other 1^st United Bank branches to process their accounts as well.

This evening and over the weekend, depositors of The Bank of Miami, N.A. can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, The Bank of Miami, N.A. had approximately $448.2 million in total assets and $374.2 million in total deposits. 1^st United Bank did not pay the FDIC a premium for the deposits of The Bank of Miami, N.A. In addition to assuming all of the deposits of the failed bank, 1^st United Bank agreed to purchase approximately $442.3 million of the failed bank’s assets. The FDIC will retain the remaining assets for later disposition.

The FDIC and 1^st United Bank entered into a loss-share transaction on $313.5 million of The Bank of Miami, N.A.’s assets. 1^st United Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-323-6111. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/bankofmiami.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $64.0 million. Compared to other alternatives, 1^st United Bank’s acquisition was the least costly resolution for the FDIC’s DIF. The Bank of Miami, N.A. is the 152^nd FDIC-insured institution to fail in the nation this year, and the 29th in Florida. The last FDIC-insured institution closed in the state was Gulf State Community Bank, Carrabelle, on November 19, 2010.

Chestatee State Bank, Dawsonville, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bank of the Ozarks, Little Rock, Arkansas, to assume all of the deposits of Chestatee State Bank.

The four branches of Chestatee State Bank will reopen during normal business hours beginning Saturday as branches of Bank of the Ozarks. Depositors of Chestatee State Bank will automatically become depositors of Bank of the Ozarks. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Chestatee State Bank should continue to use their existing branch until they receive notice from Bank of the Ozarks that it has completed systems changes to allow other Bank of the Ozarks branches to process their accounts as well.

This evening and over the weekend, depositors of Chestatee State Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, Chestatee State Bank had approximately $244.4 million in total assets and $240.5 million in total deposits. Bank of the Ozarks did not pay the FDIC a premium for the deposits of Chestatee State Bank. In addition to assuming all of the deposits of the failed bank, Bank of the Ozarks agreed to purchase essentially all of the assets.

The FDIC and Bank of the Ozarks entered into a loss-share transaction on $195.3 million of Chestatee State Bank’s assets. Bank of the Ozarks will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-238-8209. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/chestatee.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $75.3 million. Compared to other alternatives, Bank of the Ozarks’s acquisition was the least costly resolution for the FDIC’s DIF. Chestatee State Bank is the 153^rd FDIC-insured institution to fail in the nation this year, and the 19^th in Georgia. The last FDIC-insured institution closed in the state was Darby Bank & Trust, Vidalia, on November 12, 2010.

Earthstar Bank, Southampton, Pennsylvania, was closed today by the Secretary of Banking of the Commonwealth of Pennsylvania, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Polonia Bank, Huntingdon Valley, Pennsylvania, to assume all of the deposits of Earthstar Bank, except for certain out-of-state certificates of deposit (CD).

The four branches of Earthstar Bank will reopen on Saturday as branches of Polonia Bank. Depositors of Earthstar Bank will automatically become depositors of Polonia Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Earthstar Bank should continue to use their existing branch until they receive notice from Polonia Bank that it has completed systems changes to allow other Polonia Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Earthstar Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, Earthstar Bank had approximately $112.6 million in total assets and $104.5 million in total deposits. Polonia Bank did not pay the FDIC a premium for the deposits of Earthstar Bank. In addition to assuming all of the deposits of the failed bank, Polonia Bank agreed to purchase approximately $77.1 million of the failed bank’s assets. The FDIC will retain most of the assets for later disposition.

The FDIC and Polonia Bank entered into a loss-share transaction on $45.8 million of Earthstar Bank’s assets. Polonia Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-822-1918. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/earthstar.html.

On Monday morning, the FDIC will mail checks to those customers with out-of-state CDs, as long as the funds were not used as collateral for a loan.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $22.9 million. Compared to other alternatives, Polonia Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Earthstar Bank is the 151st FDIC-insured institution to fail in the nation this year, and the second in Pennsylvania. The last FDIC-insured institution closed in the state was Allegiance Bank of North America, Bala Cynwyd, on November 19, 2010.

Paramount Bank, Farmington Hills, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Level One Bank, Farmington Hills, Michigan, to assume all of the deposits of Paramount Bank.

The four branches of Paramount Bank will reopen on Monday as branches of Level One Bank. Depositors of Paramount Bank will automatically become depositors of Level One Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Paramount Bank should continue to use their existing branch until they receive notice from Level One Bank that it has completed systems changes to allow other Level One Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Paramount Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, Paramount Bank had approximately $252.7 million in total assets and $213.6 million in total deposits. Level One Bank did not pay the FDIC a premium for the deposits of Paramount Bank. In addition to assuming all of the deposits of the failed bank, Level One Bank agreed to purchase essentially all of the assets.

The FDIC and Level One Bank entered into a loss-share transaction on $233.1 million of Paramount Bank’s assets. Level One Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-881-7816. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/paramount.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $90.2 million. Compared to other alternatives, Level One Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Paramount Bank is the 150th FDIC-insured institution to fail in the nation this year, and the fifth in Michigan. The last FDIC-insured institution closed in the state was Mainstreet Savings Bank, FSB, Hastings, on July 16, 2010.

First Banking Center, Burlington, Wisconsin, was closed today by the Wisconsin Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Michigan Bank, Troy, Michigan, to assume all of the deposits of First Banking Center.

The 17 branches of First Banking Center will reopen during normal business hours beginning Saturday as branches of First Michigan Bank. Depositors of First Banking Center will automatically become depositors of First Michigan Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of First Banking Center should continue to use their existing branch until they receive notice from First Michigan Bank that it has completed systems changes to allow other First Michigan Bank branches to process their accounts as well.

This evening and over the weekend, depositors of First Banking Center can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, First Banking Center had approximately $750.7 million in total assets and $664.8 million in total deposits. First Michigan Bank will pay the FDIC a premium of 0.50 percent to assume all of the deposits of First Banking Center. In addition to assuming all of the deposits of the failed bank, First Michigan Bank agreed to purchase essentially all of the failed bank’s assets.

The FDIC and First Michigan Bank entered into a loss-share transaction on $515.6 million of First Banking Center’s assets. First Michigan Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-830-3256. The phone number will be operational this evening until 9:00 p.m. Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m. CST; on Sunday from noon to 6:00 p.m. CST; and thereafter from 8:00 a.m. to 8:00 p.m. CST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/firstbanking.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $142.6 million. Compared to other alternatives, First Michigan Bank’s acquisition was the least costly resolution for the FDIC’s DIF. First Banking Center is the 149^th FDIC-insured institution to fail in the nation this year, and the second in Wisconsin. The last FDIC-insured institution closed in the state was Maritime Savings Bank, West Allis, on September 17, 2010.

Allegiance Bank of North America, Bala Cynwyd, Pennsylvania, was closed today by the Secretary of the Pennsylvania Department of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with VIST Bank, Wyomissing, Pennsylvania, to assume all of the deposits of Allegiance Bank of North America.

The five branches of Allegiance Bank of North America will reopen on Monday as branches of VIST Bank. Depositors of Allegiance Bank of North America will automatically become depositors of VIST Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Allegiance Bank of North America should continue to use their existing branch until they receive notice from VIST Bank that it has completed systems changes to allow other VIST Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Allegiance Bank of North America can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, Allegiance Bank of North America had approximately $106.6 million in total assets and $92.0 million in total deposits. VIST Bank will pay the FDIC a premium of 0.50 percent to assume all of the deposits of Allegiance Bank of North America. In addition to assuming all of the deposits of the Allegiance Bank of North America, VIST Bank agreed to purchase essentially all of the assets.

The FDIC and VIST Bank entered into a loss-share transaction on $86.2 million of Allegiance Bank of North America’s assets. VIST Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-837-0215. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m. EST; on Sunday from noon to 6:00 p.m. EST; and thereafter from 8:00 a.m. to 8:00 p.m. EST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/allegbank.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $14.2 million. Compared to other alternatives, VIST Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Allegiance bank of North America is the 148^th FDIC-insured institution to fail in the nation this year, and the first in Pennsylvania. The last FDIC-insured institution closed in the state was Dwelling House Savings and Loan Association, Pittsburgh, on August 14, 2009.

Gulf State Community Bank, Carrabelle, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Centennial Bank, Conway, Arkansas, to assume all of the deposits of Gulf State Community Bank.

The five branches of Gulf State Community Bank will reopen during normal business hours beginning Saturday as branches of Centennial Bank. Depositors of Gulf State Community Bank will automatically become depositors of Centennial Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Gulf State Community Bank should continue to use their existing branch until they receive notice from Centennial Bank that it has completed systems changes to allow other Centennial Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Gulf State Community Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, Gulf State Community Bank had approximately $112.1 million in total assets and $112.2 million in total deposits. Centennial Bank did not pay the FDIC a premium to assume all of the deposits of Gulf State Community Bank. In addition to assuming all of the deposits of the failed bank, Centennial Bank agreed to purchase essentially all of the assets.

The FDIC and Centennial Bank entered into a loss-share transaction on $84.4 million of Gulf State Community Bank’s assets. Centennial Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-774-8035. The phone number will be operational this evening until 9:00 p.m. Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m. EST; on Sunday from noon to 6:00 p.m. EST; and thereafter from 8:00 a.m. to 8:00 p.m. EST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/gulfstate.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $42.7 million. Compared to other alternatives, Centennial Bank’s acquisition was the least costly resolution for the FDIC’s DIF. Gulf State Community Bank is the 147^th FDIC-insured institution to fail in the nation this year, and the 28^th in Florida. The last FDIC-insured institution closed in the state was Progress Bank of Florida, Tampa, on October 22, 2010.

Tifton Banking Company, Tifton, Georgia and Darby Bank & Trust Co., Vidalia, Georgia, were closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Ameris Bank, Moultrie, Georgia, to acquire the banking operations, including all the deposits, of the two failed Georgia-based institutions. The two closed institutions were not affiliated with one another.

The branches of the two closed institutions will reopen as branches of Ameris Bank under their normal business hours, including those with Saturday hours. Depositors will automatically become depositors of Ameris Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage up to the applicable limits. Tifton Banking Company operated one branch in Tifton, Georgia, and Darby Bank & Trust Co. operated seven branches in Georgia.

Customers of the two failed institutions should continue to use their former branches until they receive notice from Ameris Bank that it has completed systems changes to allow other Ameris Bank branches to process their accounts as well. Over the weekend, depositors can access their money by writing checks or using ATM or debit cards. Loan customers should continue to make their payments as usual.

As of September 30, 2010, Tifton Banking Company had total assets of $143.7 million and total deposits of $141.6 million, and Darby Bank & Trust Co. had total assets of $654.7 million and total deposits of $587.6 million. Besides assuming all the deposits from the two Georgia institutions, Ameris Bank will purchase virtually all their assets.

The FDIC and Ameris entered into a loss-share transaction on $560.2 million of the failed institutions’ assets. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transactions can call the FDIC toll free: for Tifton Banking Company customers, 1-800-822-0412, and for Darby Bank & Trust Co. customers, 1-800-823-5028. The phone numbers will be operational this evening until 9:00 p.m. Eastern Standard Time (EST); on Saturday from 8:00 a.m. to 6:00 p.m. EST; on Sunday from noon until 6:00 p.m. EST; and thereafter from 8:00 a.m. to 8:00 p.m. EST.

Interested parties can also visit the FDIC’s Web site: for Tifton Banking Company, http://www.fdic.gov/bank/individual/failed/tifton.html, and for Darby Bank & Trust Co., http://www.fdic.gov/bank/individual/failed/darbybank.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $24.6 million for Tifton Banking Company, and $136.2 million for Darby Bank & Trust Co. Compared to other alternatives, Ameris Bank’s acquisition of all the deposits of the two institutions was the least costly option for the FDIC’s DIF.

The two closed institutions were the 144th and 145th banks to fail in the nation this year, and the 17th and 18th banks to close in Georgia. Prior to these failures, the last bank closed in the state was The Gordon Bank, Gordon, on October 22, 2010.

Copper Star Bank, Scottsdale, Arizona, was closed today by the Superintendent of the Arizona Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank National Association, St. Cloud, Minnesota, to assume all of the deposits of Copper Star Bank.

The three branches of Copper Star Bank will reopen on Monday as branches of Stearns Bank N.A. Depositors of Copper Star Bank will automatically become depositors of Stearns Bank N.A. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to the applicable limits. Customers of Copper Star Bank should continue to use their existing branch until they receive notice from Stearns Bank N.A. that it has completed systems changes to allow other Stearns Bank N.A. branches to process their accounts as well.

This evening and over the weekend, depositors of Copper Star Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, Copper Star Bank had approximately $204.0 million in total assets and $190.2 million in total deposits. Stearns Bank N.A. will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Copper Star Bank. In addition to assuming all of the deposits, Stearns Bank N.A. agreed to purchase essentially all of the failed bank’s assets.

The FDIC and Stearns Bank N.A. entered into a loss-share transaction on $165.2 million of Copper Star Bank’s assets. Stearns Bank N.A. will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-815-0286. The phone number will be operational this evening until 9:00 p.m., Mountain Standard Time (MST); on Saturday from 9:00 a.m. to 6:00 p.m., MST; on Sunday from noon to 6:00 p.m., MST; and thereafter from 8:00 a.m. to 8:00 p.m., MST. Interested parties also can visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/copperstar.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $43.6 million. Compared to other alternatives, Stearns Bank N.A.’s acquisition was the least costly resolution for the FDIC’s DIF. Copper Star Bank is the 146th FDIC-insured institution to fail in the nation this year, and the fourth in Arizona. The last FDIC-insured institution closed in the state was First Arizona Savings, a F.S.B., Scottsdale, on October 22, 2010.