Bank failure · FL

First East Side Savings Bank (Tamarac, FL) — failed October 19, 2012

First East Side Savings Bank of Tamarac, Florida was closed on October 19, 2012 and resolved through a purchase and assumption. Stearns Bank National Association (MN) took over its insured deposits. At failure it held $65.7M in assets and $64.9M in deposits. The FDIC's estimated loss on the failure is $12.4M (18.8% of assets).