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原文传递 Safety and Soundness: Failed Bank Review of Bayside Savings Bank, FSB. Audit Report

题名：	Safety and Soundness: Failed Bank Review of Bayside Savings Bank, FSB. Audit Report
作者：	empty
关键词：	Banking##Failures##Assets##Audits##Deposits##Federal government##Financial management##Florida##Loans##Losses##Bayside Savings Bank##Federal Deposit Insurance Corporation(FDIC)##Bayside(Florida)##
摘要：	This memorandum presents the results of our review of the failure of Bayside Savings Bank, FSB (Bayside). Bayside opened in October 2003 and had a main office in Port St. Joe, Florida and one branch in Mexico Beach, Florida. The thrift was a subsidiary of Coastal Community Investments, Inc., a bank holding company located in Panama City Beach, Florida. The Office of Thrift Supervision (OTS) closed Bayside and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver on July 30, 2010. As of March 31, 2010, the thrift had $66.1 million in total assets. FDIC estimated that the loss to the Deposit Insurance Fund is $16.2 million. Because the loss to the Deposit Insurance Fund is less than $200 million, as set forth by section 38(k) of the Federal Deposit Insurance Act (FDIA), we conducted a review of the failure of Bayside that was limited to (1) ascertaining the grounds identified by OTS for appointing the FDIC as receiver, and (2) determining whether any unusual circumstances exist that might warrant a more in-depth review of the loss. In performing our review we (1) reviewed documentation related to the appointment of FDIC as receiver, (2) reviewed OTS reports of examination, and (3) interviewed OTS examination personnel.
总页数：	6
报告类型：	科技报告