This small Bradenton, FL bank was shut down Friday, August 1, 2008 by the FDIC:
Bank regulators closed a small Florida-based bank on Friday, the eighth U.S. bank to fail this year under pressure from a weak economy and a credit crisis precipitated by falling home prices.
The Federal Deposit Insurance Corp said First Priority Bank had $259 million in assets and $227 million in deposits and its failure will cost the federal fund that insures deposits an estimated $72 million.
SunTrust Banks Inc has agreed to assume the insured deposits of First Priority, whose six branches will reopen Monday as branches of SunTrust Bank.
Here is the FDIC page for the closure.
Update, Aug. 4: Here is an interesting blog post from someone local to the bank adding a little bit of detail.
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