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FDIC takeover of People’s First Bank

December 20, 2009

December 18, 2009 FDIC took over all 29 branches of People’s First Bank. The bank has been under review for more than a year when its capital fell below federal guidelines. The FDIC estimates the failure of Peoples First Bank will cost the deposit insurance fund  $556.7 million

Peoples First Bank lost more than $135 million in 2009 and currently has $1.8 billion in assets and $1.7 billion in deposits. The bank holds $221 million in nonperforming loans (90 days late or more) and $60 million past due (30 to 90 days late).

For a complete list of FDIC assets from Peoples First Bank takeover contact
Chad Miller. General Manager of Miller & Associates Realty, LLC
850-249-6655

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