DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/329085
» VISIT US ONLINE @ DSNEWS.COM 89 IN THE NEWS Allendale County Bank Closes, Will Reopen As Palmetto State Bank e South Carolina Board of Financial Institutions recently closed the five branches of Allendale County Bank, Fairfax, South Carolina. e FDIC was appointed as the re- ceiver. To protect the depositors, an assump- tion agreement was made with Palmetto State Bank, Hampton, South Carolina. Depositors will continue to be insured by the FDIC, so Palmetto hopes that customers of Allendale will not change their banking relationships due to the switch. Over that weekend, customers were able to access their money by writing checks or by using their ATM/debit cards while the branches were closed, but now it's business as usual—only under a different name. As of the end of the year, Allendale had $54.5 million in total assets and $51 million in deposits. Palmetto not only assumed the de- posits of the failed bank, but also purchased all of the assets. e FDIC has predicted that the cost to the Deposit Insurance Fund (DIF) for this will be $17.1 million. Palmetto's acquisition was the least costly option. North Carolina Jennifer Harris, Broker Re/Max One Realty 100 Lynn Road, Raleigh, NC 27609 919-931-0313 cell 919-232-9251 offi ce jennifersoldit@gmail.com www.RaleighBestHomeSearch.com North Carolina RANK: 34 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2014 2.48% 1.13% 6.3 YEAR AGO 2.76% 2.20% 8.5 YEAR-OVER-YEAR CHANGE -10.1% -48.7% -2.2 Top County BERTIE COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 4.26% 3.32% YEAR AGO 4.76% 4.35% YEAR-OVER-YEAR CHANGE -10.5% -23.7% Top Core-Based Statistical Area HENDERSON, NC 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 7.36% 1.84% YEAR AGO 6.52% 3.28% YEAR-OVER-YEAR CHANGE 12.8% -43.9% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. South Carolina Dustin Johns, Broker Resource Realty Group 1224 Huger Street, Columbia SC 29201 803.513.4247 cell 803.758.4444 offi ce 888.437.0486 fax dustin@dustinjohns.com www.GoogleREO.com Oklahoma RANK: 17 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2014 2.09% 2.26% 4.9 YEAR AGO 2.06% 3.07% 5.2 YEAR-OVER-YEAR CHANGE 1.5% -26.4% -0.3 Top County ADAIR COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 2.85% 6.44% YEAR AGO 2.58% 11.33% YEAR-OVER-YEAR CHANGE 10.3% -43.2% Top Core-Based Statistical Area MIAMI, OK 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 2.75% 4.77% YEAR AGO 2.79% 6.60% YEAR-OVER-YEAR CHANGE -1.5% -27.8% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. South Carolina RANK: 19 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2014 2.41% 2.16% 5.5 YEAR AGO 2.50% 3.56% 8 YEAR-OVER-YEAR CHANGE -3.5% -39.4% -2.5 Top County DILLON COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 4.80% 5.28% YEAR AGO 4.35% 5.31% YEAR-OVER-YEAR CHANGE 10.5% -0.6% Top Core-Based Statistical Area DILLON, SC 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 4.80% 5.28% YEAR AGO 4.35% 5.31% YEAR-OVER-YEAR CHANGE 10.5% -0.6% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Total Short and Distressed Sales as a Percentage of All Sales, Q1 2014 Source: RealtyTrac's Residential and Foreclosure Report, March and Q1 2014 STAT INSIGHT 12.8% Institutional investors made up 5.4 percent of all home sales in Q1 2014, according to RealtyTrac. KNOW THIS