Millennium Bank, N.A., located in Sterling, VA, and Vantage Point Bank, located in Horsham, PA, were closed down by the FDIC on Friday, Feb. 28. These bank failures are the only two for the month of February, and bring the total amount of bank closures in 2014 to five.
2/28/2014 *** VA *** Sterling *** Millennium Bank, N.A. *** $7.7 million dollar estimated FDIC DIF cost.
2/28/2014 *** PA *** Horsham *** Vantage Point Bank *** $8.5 million dollar estimated FDIC DIF cost.
The total DIF for failed banks this week is $15.2 million.