On April 29, the FDIC closed down is second bank for 2016 as Trust Company Bank shuttered its doors. This institution is the second bank failure in the past two months, with North Milwaukee State Bank being closed down by regulators in March.
This bank failure is the first for the month of April and brings the overall number of bank closures in 2016 to 2.
4/29/2016 *** Tennessee *** Memphis *** Trust Company Bank *** $7.2 million dollar estimated FDIC DIF cost.
The total DIF for failed banks this week is $9.6 million.