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Material Loss Reviews

2009 Reviews
Material Loss Review of Alpha Bank and Trust, Alpharetta, Georgia  (Report No. 09-010, 5/1/2009)
Material Loss Review of Main Street Bank, Northville Michigan  (Report No. Eval-09-005, 4/15/2009)
Material Loss Review of Silver State Bank, Henderson, Nevada  (Report No. 09-008, 3/30/2009)
Material Loss Review of Integrity Bank, Alpharetta, Georgia  (Report No. 09-006, 3/17/2009)
Material Loss Review of The Columbian Bank and Trust Company, Topeka, Kansas  (Report No. 09-005, 3/11/2009)
Material Loss Review of First Priority Bank, Bradenton, Florida  (Report No. 09-003, 2/18/2009)

Section 38(k) of the Federal Deposit Insurance Act states that when the Deposit Insurance Fund incurs a material loss with respect to an insured depository institution, the inspector general of the appropriate Federal banking agency shall make a written report to that agency reviewing the agency's supervision of the institution (including the agency's implementation of prompt corrective action provisions of section 38), which shall ascertain why the institution's problems resulted in a material loss to the Deposit Insurance Fund; and make recommendations for preventing any such loss in the future. A loss is material if it exceeds the greater of $25 million or 2 percent of an institution's total assets at the time the FDIC was appointed receiver. Our reports are required six months after the material loss becomes apparent.

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Last updated 5/5/2009