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Harbor Community Bank Announces Early Termination of Loss Share AgreementsSunday, October 15, 2017
Congratulations to Harbor Community Bank (Harbor) of Fort Pierce, Florida for successfully terminating their FDIC loss share agreements on their failed bank receivership: Putnam State Bank.
As of October 11, 2017 Harbor 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 served as an advisor to Harbor Community Bank in successfully terminating their shared loss agreements with the FDIC and would like to congratulate all of the Harbor team. We wish you continued success!
DD&F has completed 77 buyouts so far, or 40% of all the deals completed and have saved our clients over $170MM in true-up savings.
Additionally, we have recently completed buyouts for MidWestOne Bank, Iowa City, IA (on 7/14/17), BBVA Compass, Birmingham, AL (on 4/12/17), Great Southern Bank, Springfield, MO (on 6/9/17), BankSouth, Greensboro, GA (on 4/12/17), First-Citizens Bank & Trust Company, Raleigh, NC (on 3/29/17), Southern Bank & Trust, Inc., Mt. Olive, NC (on 3/7/17), Oriental Bank, San Juan, PR (on 2/7/17), Mutual of Omaha Bank, Omaha, NE (on 1/30/17), Huntington Bancshares/FirstMerit Bank, Akron, OH (on 1/25/17) and IBERIABANK, Lafayette, LA (on 12/21/16).
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