It's Friday -- #26, 27, and a credit union

Tell me all about the "recovery". Two "smallish" banks and a good sized credit union.


Bank Failure 26: American Southern Bank, Kennesaw, Georgia.

Bank Failure 27: Michigan Heritage Bank, Farmington Hills.

The National Credit Union Administration (NCUA) today assumed control of the operations of Eastern Financial Florida Credit Union, a state-chartered, federally insured credit union headquartered in Miramar, Florida.
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Eastern Financial Florida Credit Union was originally chartered in 1937 and today serves Broward, Miami-Dade, Palm Beach, Hillsborough, Pinellas counties and the Jacksonville area. The credit union has approximately $1.6 billion in assets and just over 200,000 members.

The National Credit Union Administration (NCUA) is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government...