And then there were nine ...

We got news of our ninth bank failure of the year late Friday evening. Columbian Bank and Trust Co. of Topeka, Kansas, with $752 million in assets as of June 30, went under. The FDIC arranged a purchase and assumption agreement with Citizens Bank and Trust of Chillicothe, Missouri to take over Columbian's insured deposits. The FDIC estimates there were $46 million in uninsured deposits. The total cost to the FDIC's Deposit Insurance Fund will be an estimated $60 million. More details can be found here.