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JULY 2010
 

FDIC Awards Task Order for Closing & Management Services of Coastal Community Bank, Panama City Beach, Florida (July 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of Coastal Community Bank, Panama City Beach, Florida.

On July 30, 2010, Coastal Community Bank was closed by the Florida Office of Financial Regulation, which appointed the 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 Coastal Community Bank.

As of March 31, 2010, Coastal Community Bank had approximately $372.9 million in total assets and $363.2 million in total deposits. In addition to assuming all of the deposits from Coastal Community Bank, Centennial Bank agreed to purchase virually all of Coastal Community Bank's assets.

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FDIC Awards Task Order for Closing & Management Services of The Cowlitz Bank, Longview, Washington (July 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of The Cowlitz Bank, Longview, Washington.

On July 30, 2010, The Cowlitz Bank was closed by the Washington Department of Financial Institutions, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Heritage Bank, Olympia, Washington, to assume all of the deposits of The Cowlitz Bank.

As of March 31, 2010, The Cowlitz Bank had approximately $529.3 million in total assets and $513.9 million in total deposits. In addition to assuming all of the deposits from The Cowlitz Bank, Heritage Bank agreed to purchase approximately $280.0 million of The Cowlitz Bank's assets.

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FDIC Awards Task Order for Closing & Management Services of LibertyBank, Eugene, Oregon (July 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of LibertyBank, Eugene, Oregon.

On July 30, 2010, LibertyBank was closed by the Oregon Divison of Finance and Corporate Securities, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Home Federal Bank, Nampa, Idaho, to assume all of the deposits of LibertyBank.

As of March 31, 2010, LibertyBank had approximately $768.2 million in total assets and $718.5 million in total deposits. In addition to assuming all of the deposits from LibertyBank, Home Federal Bank agreed to purchase approximately $419.7 million of the failed bank's assets.

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FDIC Awards Task Orders for Closing & Management Services of Metro Bank of Dade County, Miami Florida and Turnberry Bank, Aventura, Florida (July 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Orders by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of Metro Bank of Dade County, Miami, Florida and Turnberry Bank, Aventura, Florida.

On July 16, 2010, Metro Bank of Dade County and Turnberry Bank were closed by the Florida Office of Financial Regulation and the Office of Thrift Supervision, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreements with NAFH National Bank, Miami, Florida, a newly-chartered bank subisidiary of North American Financial Holdings, Inc., Charlotte, North Carolina, to assume all of the deposits of the failed institutions.

As of March 31, 2010, Metro Bank of Dade County had approximately $442.3 million in total assets and $391.3 million in total deposits. Turnberry Bank had total assets of $263.9 million and total deposits of $196.9 million. In addition to assuming all of the deposits from Metro Bank of Dade County and Turnberry Bank, NAFH National Bank agreed to purchase virtually all of the failed bank's assets.

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JUNE 2010

 

FDIC Awards Task Order for Closing & Management Services of Peninsula Bank, Englewood, Florida (June 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the FDIC to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of Peninsula Bank, Englewood, Florida.

On June 25, 2010, Peninsula Bank, was closed by the Florida Division of Financial Institutions , which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, Miami, Florida, to assume all of the deposits of Peninsula Bank.

As of March 31, 2010, Peninsula Bank had approximately $644.3 million in total assets and $580.1 million in total deposits. In addition to assuming all of the deposits from Peninsula Bank, Premier American Bank agreed to purchase essentially all of the failed bank's assets.

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MAY 2010

 

FDIC Awards Task Order for Closing & Management Services of Sun West Bank, Las Vegas, Nevada (May 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of Sun West Bank, Las Vegas, Nevada.

On May 28, 2010, Sun West Bank, was closed by the Nevada Financial Institutions Division, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with City National Bank, Los Angeles, California, to assume all of the deposits of Sun West Bank.

As of March 31, 2010, Sun West Bank had approximately $360.7 million in total assets and $353.9 million in total deposits. In addition to assuming all of the deposits from Sun West Bank, City National Bank agreed to purchase essentially all of the failed bank's assets.

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FDIC Awards Task Order for Closing & Management Services of Towne Bank of Arizona, Mesa, Arizona (May 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of Towne Bank of Arizona, Mesa, Arizona.

On May 7, 2010, Towne Bank of Arizona, was closed by the Arizona Department of Financial Institutions, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Commerce Bank of Arizona, Tucson, Arizona, to assume all of the deposits of Towne Bank of Arizona.

As of March 31, 2010, Towne Bank of Arizona had approximately $120.2 million in total assets and $113.2 million in total deposits. Besides assuming all of the deposits from Towne Bank of Arizona, Commerce Bank of Arizona agreed to purchase essentially all of the failed bank's assets.

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APRIL 2010

 

FDIC Awards Task Order for Closing & Management Services of Innovative Bank, Oakland, California (April 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of Innovative Bank, Oakland, California.

On April 16, 2010, Innovative Bank, was closed by the California Department of Financial Institutions, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Center Bank, Los Angeles, California, to assume all of the deposits of Innovative Bank.

As of December 31, 2009, Innovative Bank had $268.9 in total assets and $225.2 million in total deposits. Besides assuming all of the deposits from Innovative Bank, Center Bank agreed to purchase essentially all of the failed bank's assets.

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FDIC Awards Task Order for Closing & Management Services of American First Bank, Clermont, Florida (April 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of AmericanFirst Bank, Clermont, Florida.

On April 16, 2010, AmericanFirst Bank was closed by the Florida Office of Financial Regulation, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with T.D. Bank, N.A.

As of December 31, 2009, AmericanFirst Bank had total assets of $90.5 million and total deposits of $81.9 million. Besides assuming all of the deposits from AmericanFirst Bank, T.D. Bank, N.A. will purchase virtually all of the failed bank's assets.

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MMC Awarded Staffing Services Task Order for Eurobank, San Juan, Puerto Rico (April 2010)
C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Eurobank, San Juan, Puerto Rico.

Eurobank, San Juan, Puerto Rico, was closed on April 30, 2010 by the Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Oriental Bank and Trust, San Juan, Puerto Rico, to assume all of the deposits of Eurobank.

As of December 31, 2009, Eurobank had approximately $2.56 billion in total assets and $1.97 billion in total deposits. In addition to assuming all of the deposits of Eurobank, Oriental Bank and Trust agreed to purchase essentially all of the failed bank's assets.

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MARCH 2010

 

FDIC Awards Task Order for Closing & Management Services of Unity National Bank, Cartersville, Georgia (March 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of Unity National Bank, Centersville, Georgia.

On March 26, 2010, Unity National Bank was closed by the Office of the Comptroller of the Currency, which appointed the 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 Unity National Bank.

As of December 31, 2009, Unity National Bank had approximately $292.2 million in total assets and $264.3 million in total deposits. In addition to assuming all of the deposits, Bank of the Ozarks agreed to purchase essentially all of the failed bank's assets.

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FDIC Awards Task Order for Closing & Management Services of Appalachian Community Bank, Ellijay, Georgia (March 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of Appalachian Community Bank.

On March 19, 2010, Appalachian Community Bank was closed by the Georgia Department of Banking and Finance, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Community & Southern Bank, Carrollton, Georgia, to assume all of the deposits of Appalachian Community Bank.

As of December 31, 2009, Appalachian Community Bank had approximately $1.01 billion in total assets and $917.6 million in total deposits. In addition to assuming all of the deposits of the failed bank, Community & Southern Bank agreed to purchase essentially all of the assets.

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MMC Awarded Staffing Services Task Order for Advanta Bank Corp., Draper, Utah (March 2010)
C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Advanta Bank Corp., Draper, Utah.

Advanta Bank Corp. was closed on March 19, 2010, by the Utah Department of Financial Institutions, which appointed the FDIC as receiver. The FDIC was unable to find another financial institution to take over the banking operations of Advanta Bank Corp.

As of December 310, 2009, Advanta Bank Corp. had approximately $1.6 billion in total assets and $1.5 billion in total deposits.

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FDIC Awards Task Order for Closing & Management Services of Centennial Bank, Ogden, Utah (March 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of Centennial Bank.

On March 5, 2010, Centennial Bank was closed by the Utah Department of Financial Institutions, which appointed the FDIC as receiver. The FDIC entered into an agreement with Zions First National Bank, Salt Lake City, Utah, to accept the failed bank's direct deposits from the federal government, such as Social Security and Veteran's payments. The FDIC was unable to find another fiinancial institution to take over the banking operations of Centennial Bank.

As of December 31, 2009, Centennial Bank had total assets of $215.2 million and $205.1 million in total deposits.

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FEBRUARY 2010

 

FDIC Awards Task Order for Closing & Management Services of George Washington Savings Bank, Orland Park, Illinois (February 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of George Washington Savings Bank.

On February 19, 2010, George Washington Savings Bank was closed by the Illinois Department of Financial Professional Regulation - Division of Banking, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with FirstMerit Bank, National Association, Akron, Ohio, to assume all of the deposits of George Washington Savings Bank.

As of December 31, 2009, George Washington Savings Bank had total assets of $412.8 million in total assets and $395.3 million in total deposits. In addition to assuming all of the deposits of the failed bank, FirstMerit Bank, N.A. agreed to purchase essentially all of the assets.

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JANUARY 2010

 

FDIC Awards Task Order for Closing & Management Services of Florida Community Bank, Immokalee, FL (January 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of Florida Community Bank.

On January 29, 2010, Republic Federal Bank, N.A. was closed by the Florida Office of Financial Regulation, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, Miami, Florida, to assume all of the deposits of Florida Community Bank.

As of September 30, 2009, Florida Community Bank had total assets of $875.5 million in total assets and $795.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, Premier National Bank, N.A. agreed to purchase $499.1 of the failed assets. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of the remaining assets.

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FDIC Awards Task Order for Closing & Management Services of Premier American Bank , Miami, FL (January 2010)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group, L.P., has been awarded a Receivership Assistance Contract Task Order by the Federal Deposit Insurance Corporation (FDIC) to provide services related to the management and resolution of unresolved claims, debts, and other assets due to the closing of Premier American Bank.

On January 22, 2010, Republic Federal Bank, N.A. was closed by the Florida Office of Financial Regulation, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, Miami, Florida, a newly-chartered national institution, to assume all of the deposits of Premier American Bank.

As of September 30, 2009, Premier American Bank had approximately $350.9 million in total assets and $326.3 million in total deposits. In addition to assuming all of the deposits of the failed bank, Premier American Bank, N.A. agreed to purchase essentially all of the assets.

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