GulfSouth Private Bank
Destin,
Fla. |
See all recipients in Florida
This investment resulted in a loss to taxpayers. See below for details.
| $7.5M Disbursed |
| $0 Returned |
| $681K Revenue to Gov't |
| $6.82M Net Outstanding |
| $7.5M Committed |
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On 10/19/2012, GulfSouth Private Bank, Destin, Florida, was closed by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
Events
-
$395K Revenue
Jun. 21, 2010 Dividends payment
Part of Capital Purchase Program -
$49.4K Revenue
May 17, 2010 Dividends payment
Part of Capital Purchase Program -
$152K Revenue
Feb. 17, 2010 Interest Payment
Part of Capital Purchase Program -
$84.5K Revenue
Nov. 16, 2009 Interest Payment
Part of Capital Purchase ProgramMore info from www.financialstability.gov -
$7.5M Bailout
Sep. 25, 2009 Preferred Stock w/ Exercised Warrants
On 3/30/2010, Treasury exchanged its $7,500,000 of Subordinated Debentures in GulfSouth Private Bank for an equivalent amount of Preferred Stock, in connection with its conversion from a Subchapter S-Corporation, that comply with the CPP terms applicable to privately held qualified financial institutions.
Part of Capital Purchase ProgramMore info from www.financialstability.gov
| Date | Type | Amount | Program | Description |
|---|---|---|---|---|
| 06/21/2010 | Dividend | $395,250 | CPP | Dividends payment |
| 05/17/2010 | Dividend | $49,406 | CPP | Dividends payment |
| 02/17/2010 | Interest | $152,138 | CPP | Interest Payment |
| 11/16/2009 | Interest | $84,518 | CPP | Interest Payment |
| 09/25/2009 | Purchase | $7,500,000 | CPP | Preferred Stock w/ Exercised Warrants |
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