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Proficio Bank was 98% funded with Internet deposits, which the @FDICgov counts as core. Its failure cost the insurance fund $11M.
Proficio Bank failed because $33 million of its Internet deposits would mature in March: https://t.co/VmMcsYE817
Cache Valley Bank, Logan, Utah, assumes all of the deposits of Proficio Bank, Cottonwood Heights, Utah - https://t.co/mjhwYYltwq@FDICgov
Cache Valley Bank, Logan, Utah, assumes all of the deposits of Proficio Bank, Cottonwood Heights, Utah - https://t.co/BIiYWE4lDQ@FDICgov
Cache Valley Bank, Logan, Utah, assumes all of the deposits of Proficio Bank, Cottonwood Heights, Utah - https://t.co/lmLso9A5y8@FDICgov