The nation had its 100th bank failure of the year as Office of Thrift Supervision closed Partners Bank located in Naples, Florida.

To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stonegate Bank, Fort Lauderdale, Florida, to assume all of the deposits of Partners Bank

As of September 30, 2009, Partners Bank had total assets of $65.5 million and total deposits of approximately $64.9 million. The FDIC estimates that the cost to the Deposit Insurance Fund  will be $28.6 million.

Douglas A. McIntyre