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6. Fayette County Bank of Saint Elmo, IL was closed on May 26, 2017 by the Office of the Comptroller of the Currency, which appointed
6. Fayette County Bank of Saint Elmo, IL was closed on May 26, 2017 by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. According to the press release linked on the page for this bank on the FDIC Failed Bank List website: (a) What happened to the depositors? (b) Regarding the financial health of Fayette County Bank on March 31, 2017: i. What was the level of the assets? ii. What was the level of the deposits? iii. If the deposits were the only liabilities, what was the level of equity? iv. Given the level of equity that you calculated in part 6(b)iii above, what was the leverage of Fayette County Bank on March 31, 2017
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