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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