Freedom Bank

Who: Freedom Bank

What: 17^th bank failure of 2008 (Oct. 31, 2008)

Where: Bradenton, Florida

Why: A failure to raise capital.

Fast Facts: Fifth Third Bank of Grand Rapids, MI assumed all deposits from Freedom Bank; as of Oct. 17, 2008, Freedom Bank had $287 million in total assets and $254 million in total deposits; Freedom Bank is the second bank in Bradenton, FL to be shut down in 2008 (First Priority Bank was shut down in August); since September, the bank had been operating on a cease and desist order.

View the press release