GulfSouth Private Bank
Destin,
Fla. |
See all recipients in
Florida
$7.5M
Disbursed
$0
Returned
$681K
Revenue to Gov't
$6.82M
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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