The Huntington National Bank, Columbus, Ohio, Assumes All of the Deposits of Fidelity Bank, Dearborn

[FarCenter]

Fidelity Bank, Dearborn, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with The Huntington National Bank, Columbus, Ohio, to assume all of the deposits of Fidelity Bank.
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As of December 31, 2011, Fidelity Bank had approximately $818.2 million in total assets and $747.6 million in total deposits. In addition to assuming all of the deposits of the failed bank, The Huntington National Bank agreed to purchase essentially all of the assets.
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The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $92.8 million.

http://www.fdic.gov/news/news/press/2012/pr12038.html