 |
|
|
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 Federal Deposit Insurance Corporation (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. |
|
| |
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 Federal Deposit Insurance Corporation (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. The FDIC will retain the remaning assets for later disposition. MMC will assist the FDIC in the accounting and dispositon of the remaining assets. |
|
| |
DECEMBER 2009 |
| |
FDIC Awards Task Order for Closing & Management Services of Imperial Capital Bank, La Jolla, CA (December 2009)
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 Republic Federal Bank, National Association.
On December 18, 2009, Imperial Capital Bank was closed by the California 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 City National Bank, Los Angeles, California, to assume all of the deposits of Imperial Capital Bank.
As of September 30, 2009, Imperial Capital Bank had total assets of $4.0 billion in total deposits and 2.8 billion in deposits. In addition to assuming all of the deposits of the failed bank, City National Bank agreed to purchase approximately $3.3 billion of the failed bank's assets. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets. |
|
| |
MMC Awarded Staffing Services Task Order for New South Federal Savings Bank, Irondale, AL ((December 2009)
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 New South Federal Savings Bank.
New South Federal Savings Bank was closed on December 18, 2009, 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 Beal Bank, Plano, Texas to assume all of the deposits of the New South Federal Savings Bank.
As of September 30, 2009, New South Federal Savings Bank had total assets of approximately $1.5 billion and $1.2 billion in total deposits. |
|
| |
FDIC Awards Task Order for Closing & Management Services of Republic Federal Bank, National Association, Miami, FL (December 2009)
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 Republic Federal Bank, National Association.
On December 11, 2009, Republic Federal Bank, N.A. was closed 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 1st United Bank, Boca Raton, Florida, to assume all of the deposits of Republic Federal Bank, N.A.
As of September 30, 2009, Republic Federal Bank, N.A. had total assets of $433 million and total deposits of approximately $352.7 million. In addition to assuming all of the deposits of the failed bank, 1st United Bank agreed to purchase approximately $267.1 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets. . |
|
| |
NOVEMBER 2009 |
| |
FDIC Awards Task Order for Closing & Management Services of Orion Bank, Naples, FL (November 2009)
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 Orion Bank.
On November 13, 2009, Orion Bank was closed 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 IBERIABANK, Lafayette, Louisiana, to assume all of the deposits of Orion Bank.
As of October 31, 2009, Orion Bank had total assets of $2.7 billion and total deposits of approximately $2.1 billion. In addition to assuming all of the deposits of the failed bank, IBERIABANK agreed to purchase approximately $2.4 billion of the failed bank's assets. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets. . |
|
| |
FDIC Awards Task Order for Closing & Management Services of United Security Bank, Sparta, GA (November 2009)
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 United Security Bank.
On November 6, 2009, United Security Bank was closed 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 Ameris Bank, Moultrie, Georgia, to assume all of the deposits of United Security Bank.
As of September 14, 2009, United Security Bank had total assets of $157 million and total deposits of approximately $150 million. In addition to assuming all of the deposits of the failed bank, Ameris Bank agreed to purchase essentially all of the assets. |
|
| |
OCTOBER 2009 |
| |
FDIC Awards Task Order for Closing & Management Services of California National Bank, Los Angeles, CA (October 2009)
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 California National Bank.
On October 30, 2009, California National Bank was closed by state bank regulators, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with U.S. Bank, N.A., Minneapolis, Minnesota, to assume all of the deposits of California National Bank. Additionally, U.S. Bank, N.A. purchased essentially all of the assets of California National Bank. |
|
| |
FDIC Awards Task Order for Closing & Management Services of Riverview Community Bank, Otsego, MN (October 2009)
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 Riverview Community Bank.
On October 23, 2009, Riverview Community Bank was closed by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of the deposits of Riverview Community Bank.
As of August 31, 2009, Riverview Community Bank had total assets of $108 million and total deposits of approximately $80 million. In addition to assuming all of the deposits of the failed bank, Central Bank agreed to purchase essentially all of the assets. |
|
| |
FDIC Awards Task Order for Closing & Management Services of Bank of Elmwood, Racine, WI (October 2009)
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 Bank of Elmwood.
Bank of Elmwood was closed on October 23, 2009 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 Tri City National Bank, Oak Creek, Wisconsin, to assume all of the deposits of Bank of Elmwood.
As of September 30, 2009, Bank of Elmwood had total assets fo $327.4 million and total deposits of approximately $273.2 milion. In addition to assuming all of the deposits of the failed bank, Tri City National Bank agreed to purchase essentially all of the assets. |
|
| |
MMC Awarded Staffing Services Task Order for Hillcrest Bank Florida, Naples, FL (October 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Hillcrest Bank Florida.
Hillcrest Bank Florida was closed on October 23, 2009, 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 assumption agreement with Stonegate Bank, Fort Lauderdale, Florida, to assume all of the deposits of Hillcrest Bank Florida.
As of October 1, 2009, Hillcrest Bank Florida had total assets of $83 million and total deposits of approximately $84 million. |
|
| |
SEPTEMBER 2009 |
| |
MMC Awarded Staffing Services Task Order for Venture Bank, Lacey, WA (September 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Venture Bank.
Venture Bank was closed on September 11, 2009, by the Washington 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-Citizens Bank & Trust Company, Raleigh North Carolina, to assume all of the deposits of Venture Bank.
As of July 28, 2009, Venture Bank had total assets of $970 million and total deposits of approximately $903 million.
|
|
| |
MMC Awarded Staffing Services Task Order for Platinum Community Bank, Rolling Meadows, IL (September 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Platinum Community Bank.
Platinum Community Bank was closed on September 4, 2009, by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. As of August 29, 2009, Platinum Community Bank had total assets of $346 million and total deposits of approximately $305 million.
|
|
| |
HP Enterprise Services selects MMC as a United States Public Sector Approved Supplier (September 2009)
HP has selected MMC as a Approved Supplier to serve HP in the Federal and Government business sectors. The HP USPS Federal Sourcing initiative represents a major opportunity, because combined with EDS’s federal business unit, HP’s historical spend represents approximately $250 million annually. HP will work to direct the spend through their new Approved Supplier network.
The Approved Supplier Program will bring numerous benefits to HP and suppliers, including:
- A manageable number of USPS Approved Suppliers, selected based on objective criteria that meet all USGS client requirements.
- An improved “partnership” environment with the selected Approved Suppliers.
- An approved rate matrix and consistency in the HP skill set terminology.
- Consistency and automation throughout the complete contract labor life cycle.
MMC has been a partner with HP Enterprise Services (Formerly EDS), for several years in numerous business opportunities across the nation and looks forward to the continued relationship.
|
|
| |
AUGUST 2009 |
| |
Workforce Solutions of Gulf Coast selects MSC, an affiliate of MMC to provide Professional Services. (August 2009)
MSC Provides Disaster Relief Assistance and Clean-up Services through Workforce Solutions for various Texas-based Job Corps centers. MSC has directly supported Work Force Solutions sites in 7 counties in the Gulf Coast area, providing payroll services for over 60 temporary employees. MSC has employed candidates under Workforce Solutions in East Texas for the Goodyear, Career Counselor, and Child Care projects.
Currently MSC is supporting the In-school & Out-of-School youth programs in Dallas for Arbor E&T for the fourth year. Currently MSC has over 140 youths throughout various programs on our payroll. This proactive program is supporting communities that help prepare eligible young adults ages 14 - 21 to obtain meaningful, gainful employment leading to a self-sufficient lifestyle and continued growth. |
|
| |
Sogeti L.L.C selects MMC as an approved Supplier (August 2009)
Sogeti L.L.C., a subsidiary or Cap Gemini USA, selected MMC as an approved supplier to assist in fulfilling technical requirements of Sogeti’s U.S. client base. MMC will support Sogeti throughout the US by providing highly skilled technical and functional resources on a contracted basis. MMC’s extensive experience combined with Sogeti’s installed client base will further expand the MMC footprint throughout the US.
MMC will support Sogeti throughout various industries such as Communications & High Tech, Oil & Gas, Transportation, Manufacturing, and General Professional services within niche environments.
|
|
| |
MMC Awarded Staffing Services Task Order for First Coweta, Newnan, GA (August 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for First Coweta.
First Coweta was closed on August 21, 2009, 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 United Bank, Zebulon, Georgia, to assume all of the deposits of First Coweta, excluding those from brokers.
As of July 31, 2009, First Coweta had total assets of $167 million and total deposits of approximately $155 million. |
|
| |
MMC Awarded Staffing Services Task Order for CapitalSouth Bank, Birmingham, AL (August 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for CapitalSouth Bank.
CapitalSouth Bank was closed on August 21, 2009, by the Alabama State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with IBERIABANK, Lafayette, Lousisiana, to assume all of the deposits of First Coweta, excluding those from brokers.
As of June 30, 2009, CapitalSouth Bank had total assets of $617 million and total deposits of approximately $546 million. |
|
| |
FDIC Awards Task Orders for Closing & Management Services and Staffing Services for Dwelling House Savings and Loan Association, Pittsburgh, PA (August 2009)
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 Dwelling House Savings and Loan Association.
On August 14, 2009, Dwelling House Savings and Loan Association was closed 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 PNC Bank, National Association, Pittsburgh, Pennsylvania, to assume all of the deposits of Dwelling House Savings and Loan Association.
As of March 31, 2009, Dwelling House Savings and Loan Association had total assets of $13.4 million and total deposits of approximately $13.8 million. In addition to assuming all of the deposits of the failed bank, PNC Bank, National Association agreed to purchase approximately $3 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets.
Additionally, C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Dwelling House Savings and Loan Association. |
|
| |
MMC Awarded Staffing Services Task Order for Community Bank of Nevada, Las Vegas, NV (August 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Community Bank of Nevada.
Community Bank of Nevada was closed on August 14, 2009, by the State Commissioner, by Order of the Nevada Financial Institutions Division, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC created the Deposit Insurance National Bank of Las Vegas (DINB), which will remain open for approximately 30 days to allow depositors access to their insured deposits and time to open accounts at other insured institutions.
As of June 30, 2009, Community Bank of Nevada had total assets of $1.52 billion and total deposits of approximately $1.38 billion.
|
|
| |
MMC Awarded Staffing Services Task Order for Community First Bank, Prineville, OR (August 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Community First Bank.
Community First Bank was closed on August 7, 2009, by the Oregon Division of Finance & Corporate Securities, which appointed the Federal Deposit Insurance Corporation (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 Community First Bank, excluding those from brokers.
As of July 5, 2009, Community First Bank had total assets of $209 million and total deposits of approximately $182 million.
|
|
| |
JULY 2009 |
| |
FDIC Awards Task Order for Closing & Management Services of Integrity Bank, Jupiter, FL (July 2009)
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 Integrity Bank.
Integrity Bank was closed by the Florida Office of Financial Regulation on July 31, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stonegate Bank, Fort Lauderdale, Florida, to assume all of the deposits of Integrity Bank.
As of June 5, 2009, Integrity Bank had total assets of $119 million and total deposits of approximately $102 million. Stonegate Bank paid a premium of .2% to acquire all of the deposits of the failed bank. In addition to assuming all of the deposits of the failed bank, Stonegate Bank agreed to purchase approximately $52 million of the assets. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets.
|
|
| |
FDIC Awards Task Order for Closing & Management Services of the Six Bank Subsidiaries of Security Bank Corporation, Macon, GA (July 2009)
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 six bank subsidiaries of Security Bank Corporation.
On July 24, 2009, the six bank subsidiaries of Security Bank Corporation, Macon, Georgia, were closed by the Georgia 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 State Bank and Trust Company, Pinehurst, Georgia, to assume all of the deposits of six bank subsidiaries of Security Bank Corporation.
The six banks include Security Bank of Bibb County, Macon, GA, with $1.2 billion in total assets and $1 billion in deposits; Security Bank of Houston County, Perry, GA, with $383 million in assets and $320 million in deposits; Security Bank of Jones County, Gray, GA, with $453 million in assets and $387 million in deposits; Security Bank of Gwinnett County, Suwanee, GA, with $322 million in assets and $292 million in deposits; Security Bank of North Metro, Woodstock, GA, with $224 million in assets and $212 million in deposits; and Security Bank of North Fulton, Alpharetta, GA, with $209 million in assets and $191 million in deposits.
As of March 31, 2009, the six banks had total assets of $2.8 billion and total deposits of approximately $2.4 billion. In addition to assuming all of the deposits of the failed bank, State Bank and Trust Company will acquire $2.4 billion in assets. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets. |
|
| |
FDIC Awards Task Order for Closing & Management Services of Waterford Village Bank, Williamsville, NY (July 2009)
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 Waterford Village Bank.
On July 24, 2009, Waterford Village Bank was closed by the New York State Banking Department, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Evans Bank, N.A., Angola, New York, to assume all of the deposits of Waterford Village Bank.
As of March 31, 2009, Waterford Village Bank had total assets of $61.4 million and total deposits of $58 million. In addition to assuming all of the deposits of the failed bank, Evans Bank, N.A. agreed to purchase essentially all of the assets. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets.
|
|
| |
MMC Awarded Staffing Services Task Order for Temecula Valley Bank, Temecula, CA (July 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Temecula Valley Bank.
Temecula Valley Bank was closed July 17, 2009 by the California 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-Citizens Bank and Trust Company, Raleigh, North Carolina, to assume all of the deposits of Temecula Valley Bank, excluding those from brokers.
As of May 31, 2009, Temecula Valley Bank had total assets of $1.5 billion and total deposits of approximately $1.3 billion.
|
|
| |
MMC Awarded Staffing Services Task Order for Vineyard Bank, Rancho Cucamonga, CA (July 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Vineyard Bank.
Vineyard Bank was closed July 17, 2009 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 California Bank & Trust, San Diego, California, to assume all of the deposits of Vineyard Bank, excluding those from brokers.
As of March 31, 2009, Vineyard Bank had total assets of $1.9 billion and total deposits of approximately $1.6 billion.
|
|
| |
FDIC Awards Task Order for Closing & Management Services of Bank of Wyoming, Thermopolis, WY (July 2009)
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 Bank of Wyoming.
On July 10, 2009, Bank of Wyoming was closed by the State of Wyoming,Department of Audit, Division of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Central Bank & Trust, Lander, Wyoming, to assume all of the deposits of Bank of Wyoming, except those from brokers.
As of June 30, 2009, Bank of Wyoming had total assets of $70 million and total deposits of $67 million. Central Bank & Trust will purchase all deposits, except about $8million in brokered deposits, held by the Bank of Wyoming. The FDIC will pay the brokers directly for the amount of their funds. Central Bank & Trust agreed to purchase approximately $55 million of assets. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets.
|
|
| |
Seaside, CA – EDS selected MMC to provide support services for EDS’s Defense Manpower Data Center (DMDC) project (July 2009)
The project (DSO) provides Database Management and Call Center services within a Department of Defense (DOD) facility located in Seaside, California. The primary focus is to ensure that military personnel, eligible family members, and retired personnel receive the proper benefits and entitlements. These include medical and dental benefits, as well as commissary, exchange, and/or military morale and recruitment privileges. DMDC maintains the largest archive of personnel, manpower, training and financial data in the Department of Defense.
MMC provides Customer Support Representatives (CSR) that support over 3500 calls per day and process 7.1 million letters annually. DMDC CSR’s are the central source to identify, authenticate, authorize and provide information on DOD affiliated personnel by reinforcing the DOD’s goal of a lifetime relationship with the entire DOD family. MMC CSR’s ensure that the Uniformed Service Members and their families receive their benefits and entitlements they need and deserve.
|
|
| |
MMC signs Teaming agreement with EDS for NAVSISA (Navy Supply Information Systems Activity). (July 2009)
NAVSISA is the Navy's Information Technology division with responsibility to design, develop, and maintain information systems supporting numerous activities in areas of logistics, supply chain management, transportation, finance, and accounting.. The projects will consist of IT/Information Management Support and Business Management Support. As a teaming partner with EDS, MMC will partner with EDS to develop and pursue business opportunities in which application support technology services are required. |
|
| |
JUNE 2009 |
| |
FDIC Awards Task Order for Closing & Management Services of Cooperative Bank, Wilmington, NC (June 2009)
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 Cooperative Bank.
On June 19, 2009, Cooperative Bank was closed by the North Carolina Office of the Commissioner of Banks and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Bank, Troy, North Carolina, to assume all of the deposits, except those from brokers.
As of May 31, 2009, Cooperative Bank had total assets of $970 million and total deposits of $774 million. First Bank will purchase all the deposits, except about $57 million in brokered deposits, held by Cooperative Bank. The FDIC will pay the brokers directly for the amount of their funds. First Bank agreed to purchase $942 million of assets. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets. |
|
| |
MAY 2009 |
| |
FDIC Awards Task Order for Closing & Management Services of Westsound Bank, Bremerton, WA (May 2009)
C.D. Mitchell & Company, 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 Westsound Bank.
Westsound Bank, Bremerton, Washington, was closed May 8, 2009 by the Washington 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 Kitsap Bank, Port Orchard, Washington, to assume all of the deposits, except those from brokers, of Westsound Bank.
As of March 31, 2009, Westsound Bank had total assets of $334.6 million and total deposits of $304.5 million. Kitsap will not assume the approximately $9.4 million in brokered deposits. The FDIC will pay the brokers directly. Customers who placed money with brokers should contact them directly for more information about the status of their deposits. MMC will assist the FDIC in the accounting and disposition of remaining assets.
|
|
| |
FDIC Awards Task Order for Closing & Management Services of Silverton Bank, Atlanta, GA (May 2009)
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 Cape Fear Bank.
The Federal Deposit Insurance Corporation (FDIC) created a bridge bank to take over the operations of Silverton Bank, National Association, Atlanta, Georgia, after the bank was closed May 1, 2009 by the Office of the Comptroller of the Currency (OCC). The OCC appointed the FDIC as receiver. The newly created bank is Silverton Bridge Bank, National Association. Silverton Bank did not take deposits directly from the general public nor did it make loans to consumers. It was a commercial bank that provided correspondent banking services to its client banks.
Silverton Bank had approximately 1,400 client banks in 44 states, and operated six regional offices. It provided a variety of services for its clients, including credit card operations, clearing accounts, investments, consulting, purchasing loans, and selling loan participations. Since the FDIC created a new bank to take over the operations of Silverton Bank, there is not expected to be any meaningful impact on the bank's clients.
The creation of the bridge bank allows the client banks to maintain their correspondent banking relationship with the least amount of disruption. The FDIC will operate Silverton Bridge Bank, N.A., to allow preexisting marketing efforts for the bank to continue.
At the time of its closing, Silverton Bank had approximately $4.1 billion in assets and $3.3 billion in deposits, all of which are expected to be within the FDIC's insurance limits. MMC will assist the FDIC in the accounting and disposition of remaining assets.
Additionally, C.D. Mitchell & Company, an affiliate company of MMC Group, L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Silverton Bank.
|
|
| |
FDIC Awards Task Order for Closing & Management Services of Bank United, Coral Gables, FL (May 2009)
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 United.
BankUnited, a newly chartered federal savings bank, acquired the banking operations, including all of the nonbrokered deposits, of BankUnited, FSB, Coral Gables, Florida, in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC).
Bank United, FSB had assets of $12.80 billion and deposits of $8.6 billion as of May 2, 2009. The new BankUnited will assume $12.7 billion in assets and $8.3 billion in nonbrokered deposits. The FDIC and BankUnited entered into a loss-share transaction and will share in the losses on approximately $10.7 billion in assets covered under the agreement. The loss-sharing arrangement is projected to maximize returns on the covered assets by keeping them in the private sector. The agreement also is expected to minimize disruptions for loan customers as they will maintain a banking relationship. BankUnited will recapitalize the institution with $900 million in new capital.
BankUnited will not assume the approximately $348 million in brokered deposits. The FDIC will pay the brokers directly. MMC will assist the FDIC in the accounting and disposition of remaining assets. |
|
| |
MMC Awarded Staffing Services Task Order for Citizens Community Bank (May 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Citizens Community Bank.
Citizens Community Bank, Ridgewood, New Jersey, was closed May 1, 2009 by the New Jersey Department of Banking and Insurance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with North Jersey Community Bank, Englewood Cliffs, New Jersey, to assume all of the deposits of Citizens Community Bank.
As of December 31, 2008, Citizens Community Bank had total assets of approximately $45.1 million and total deposits of $43.7 million.
|
|
| |
MMC Awarded Staffing Services Task Order for Westsound Bank (May 2009)
Mir Mitchell & Company, L.L.P., an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for
Westsound Bank, Bremerton, Washington, was closed May 8, 2009 by the Washington 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 Kitsap Bank, Port Orchard, Washington, to assume all of the deposits, except those from brokers, of Westsound Bank.
As of March 31, 2009, Westsound Bank had total assets of $334.6 million and total deposits of $304.5 million. Kitsap will not assume the approximately $9.4 million in brokered deposits. |
|
| |
APRIL 2009 |
| |
FDIC Awards Task Order for Closing & Management Services of Cape Fear Bank, Wilmington, NC (April 2009)
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 Cape Fear Bank.
Cape Fear Bank, Wilmington, North Carolina, was closed April 10, 2009 by the North Carolina Office of Commissioner of Banks, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Federal Savings and Loan Association of Charleston (First Federal), Charleston, South Carolina, to assume all of the deposits of Cape Fear Bank.
As of March 31, 2009, Cape Fear Bank had total assets of approximately $492 million and total deposits of $403 million. In addition to assuming all of the deposits of the failed bank, First Federal agreed to purchase approximately $468 million in assets. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets. |
|
| |
MMC Awarded Staffing Services Task Order for American Sterling Bank (April 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for American Sterling Bank.
American Sterling Bank, Sugar Creek, Missouri, was closed April 17, 2009 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 Metcalf Bank, Lee's Summit, Missouri, to assume all of the deposits of American Sterling Bank.
As of March 20, 2009, American Sterling Bank had total assets of approximately $181 million and total deposits of $171.9 million.
|
|
| |
MMC Awarded Staffing Services Task Order for American Southern Bank (April 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for American Southern Bank.
American Southern Bank, Kennesaw, Georgia, was closed April 24, 2009 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 North Georgia, Alpharetta, Georgia, to assume all of the deposits, excluding those from brokers, of American Southern Bank.
As of March 30, 2009, American Southern Bank had total assets of approximately $112.3 million and total deposits of $104.3 million. |
|
| |
MMC Awarded Staffing Services Task Order for Michigan Heritage Bank (April 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Michigan Heritage Bank.
Michigan Heritage Bank, Farmington Hills, Michigan, was closed April 24, 2009 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, excluding those from brokers, of Michigan Heritage.
As of December 31, 2008, Michigan Heritage had total assets of approximately $184.6 million and total deposits of $151.7 million. |
|
| |
MMC Selected as a Teaming Partner with EDS (April 22, 2009)
Mir Mitchell & Company, L.L.P. , an affiliate company of MMC Group L.P., has entered into a Teaming Agreement with EDS for a response to the US Postal Service Enterprise Technology Services (ETS). MMC's participation would be to provide professional services to the ETS program as a subcontractor to EDS. MMC has been partnered with EDS since 1996 in both the Commercial and Federal business sectors and has previously provided resources to the US Postal service under the EDS USGS contract. |
|
| |
MARCH 2009 |
| |
FDIC Awards Task Order for Closing & Management Services of Omni Bank, Atlanta, GA (March 2009)
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 Omni Bank.
Omni National Bank, Atlanta, Georgia, was closed March 27, 2009 by the Office of the Comptroller of the Currency, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into an agreement with SunTrust Bank, Atlanta, Georgia, to act as paying agent for the insured deposits of Omni.
As of March 9, 2009, Omni National Bank had total assets of $956.0 million and total deposits of $796.8 million. At the time of closing, there were approximately $2.0 million in uninsured deposits that potentially exceeded the insurance limits.
The FDIC will retain all the assets for later disposition except for cash, correspondent accounts, and loans fully secured by deposits. MMC will assist the FDIC in the accounting and disposition of remaining assets. |
|
| |
MMC Awarded Staffing Services Task Order for Pinnacle Bank ( March 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Pinnacle Bank.
Pinnacle Bank, Beaverton, Oregon, was closed February 13, 2009 by the Oregon Division of Finance and Corporate Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Washington Trust Bank, Spokane, Washington, to assume all of the deposits of Pinnacle Bank.
As of December 31, 2008, Pinnacle Bank had total assets of approximately $73 million and total deposits of $64 million. |
|
| |
MMC Awarded Staffing Services Task Order for Colorado National Bank (March 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Colorado National Bank.
Colorado National Bank, Colorado Springs, Colorado, was closed March 20, 2009 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 Herring Bank, Amarillo, Texas, to assume all of the deposits of Colorado National.
As of December 31, 2008, Colorado National had total assets of $123.5 million and total deposits of $82.7 million. |
|
| |
MMC Awarded Staffing Services Task Order for Team Bank (March 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Team Bank.
Teambank, National Association, Paola, Kansas, was closed March 20, 2009 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 Great Southern Bank, Springfield, Missouri, to assume all of the deposits of Teambank.
As of December 31, 2008, Teambank had total assets of $669.8 million and total deposits of $492.8 million. Great Southern will assume $474 million in deposits and the FDIC will pay out $18.8 million directly to the broker.
|
|
| |
FEBRUARY 2009 |
| |
FDIC Awards Task Order for Closing & Management Services of Alliance Bank, Culver City, CA (February 2009)
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 Alliance Bank.
Alliance Bank, Culver City, California, was closed February 6, 2009 by the California Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with California Bank & Trust, San Diego, California, to assume all of the deposits of Alliance Bank.
As of December 31, 2008, Alliance Bank had total assets of approximately $1.14 billion and total deposits of $951 million. In addition to assuming all of the deposits of the failed bank, including those from brokers, California Bank & Trust agreed to purchase approximately $1.12 billion in assets at a discount of $9.9 million. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets. |
|
| |
MMC Awarded Staffing Services Task Order for Riverside Bank of the Gulf Coast (February 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Riverside Bank of the Gulf Coast.
Riverside Bank of the Gulf Coast, Cape Coral, Florida, was closed February 13, 2009 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 TIB Bank, Naples, Florida, to assume all of the deposits of Riverside Bank.
As of December 31, 2008, Riverside Bank had total assets of approximately $539 million and total deposits of $424 million.
|
|
| |
MMC Awarded Staffing Services Task Order for Corn Belt Bank and Trust (February 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Corn Belt Bank and Trust.
Corn Belt Bank and Trust Company, Pittsfield, Illinois, was closed February 13, 2009 by the Division of Banking, Illinois Department 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 The Carlinville National Bank,
As of December 31, 2008, Corn Belt Bank and Trust Company had total assets of approximately $271.8 million and total deposits of $234.4 million. |
|
| |
JANUARY 2009 |
| |
FDIC Awards Task Order for Closing & Management Services of 1st Centennial Bank, Redlands, CA (January 2009)
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 1st Centennial Bank.
On January 23, 2009, 1st Centennial Bank was closed by the California Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First California Bank, to assume all of the deposits, including those that exceeded the insurance limit, of 1st Centennial Bank.
As of December 31, 2008, 1st Centennial Bank had total assets of $1.1 billion and total deposits of $700 million. First California Bank agreed to assume all the deposits, including the brokered deposits, it is not obligated to purchase any of the assets. MMC will assist the FDIC in the accounting and disposition of remaining assets. |
|
| |
FDIC Awards Task Order for Closing & Management Services of Suburban Federal Savings Bank, Crofton, MD (January 2009)
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 Suburban Federal Savings Bank.
On Friday, January 30, 2009, Suburban Federal Savings Bank, Crofton, MD was closed by the Office of Thrift Supervision (OTS), and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.
To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bank of Essex, Tappahannock, Virginia, to assume all of the deposits of Suburban Federal. As of September 30, 2008, Suburban Federal had total assets of approximately $360 million and total deposits of $302 million. In addition to assuming all of the failed bank's deposits, Bank of Essex agreed to purchase approximately $348 million in assets at a discount of $45 million. The FDIC will retain the remaining assets for later disposition. MMC will assist the FDIC in the accounting and disposition of remaining assets. |
|
| |
MMC Awarded Staffing Services Task Order for Bank of Clark County (January 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for Bank of Clark County.
Bank of Clark County, Vancouver, Washington, was closed January 16, 2009 by the Washington Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Umpqua Bank, Roseburg, Oregon, to assume the insured deposits of the Bank of Clark County.
As of January 13, 2009, Bank of Clark County had total assets of $446.5 million and total deposits of $366.5 million. At the time of closing, there were approximately $39.3 million in uninsured deposits held in approximately 138 accounts that potentially exceeded the insurance limits. This amount is an estimate that is likely to change once the FDIC obtains additional information from these customers.
|
|
| |
MMC Awarded Staffing Services Task Order for 1st Centennial Bank (January 2009)
C.D. Mitchell & Company, an affiliate company of MMC Group L.P., has been awarded a Task Order by the FDIC to provide staff management and transition services related to the closure, acquisition, and management of unresolved assets for 1st Centennial Bank.
On January 23, 2009, 1st Centennial Bank was closed by the California Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First California Bank, to assume all of the deposits, including those that exceeded the insurance limit, of 1st Centennial Bank.
As of December 31, 2008, 1st Centennial Bank had total assets of $1.1 billion and total deposits of $700 million. First California Bank agreed to assume all the deposits, including the brokered deposits, it is not obligated to purchase any of the assets. |
|
|
| |
| Archive Links |
|
|
|
 |