On March 11, the FDIC closed down is first bank for 2016 as North Milwaukee State Bank shuttered its doors. This institution is also the first bank failure in over five months, when Hometown National Bank was shuttered last October.
This bank failure is the first for the month of March and brings the overall number of bank closures in 2016 to 1.
3/11/2016 *** Wisconsin *** Milwaukee *** North Milwaukee State Bank *** $9.6 million dollar estimated FDIC DIF cost.
The total DIF for failed banks this week is $9.6 million.