GulfSouth Private Bank

Destin, Fla. | See all recipients in Florida
Revenue to Gov't
Net Outstanding

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.

This investment resulted in a loss to taxpayers.

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
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.
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