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Southern Bank & Trust Company Announces Early Termination of Loss Share Agreements!Wednesday, March 8, 2017
Congratulations to Southern Bank and Trust Company of Mount Olive, North Carolina for successfully terminating their FDIC loss share agreements on their failed bank receivership: Bank of the Commonwealth.
As of March 7, 2017 Southern will now recognize entirely all future gains, recoveries, charge-offs, losses and expenses related to the formerly covered assets with no offset to the FDIC.
DD&F has completed 67 buyouts so far, or 41% of all the deals completed and have saved our clients over $115MM in true-up savings.
Additionally, we have recently completed buyouts for Oriental Bank (on 2/7/17), Mutual of Omaha Bank (on 1/30/17), Huntington Bancshares/FirstMerit Bank (on 1/25/17), IBERIABANK (on 21/21/16) and Renasant Bank (on 12/8/16).
DD&F has assisted with by far the most buyouts in the country and has assisted in 18 of the last 23 successful buyouts.
We would be happy to sit down and talk with you or your team at our expense about how we can help you get out of loss share. Even better, at no cost to you, we can evaluate your true-up and give you an estimate of how much in savings we can find.Back to News and Events