Daily Archives: Nov. 15, 2012

Bank regulator to close last of temporary offices opened at height of financial crisis

The Federal Deposit Insurance Corp. said this week it is making plans to close the last of its three temporary satellite offices opened after the 2008 financial crisis.

The last office to close is its East Coast Temporary Satellite Office, though that office’s closure is slated for the second quarter of 2014.

The East Coast office, based in Jacksonville, Fla., has a temporary staff of 420 employees and it is managing 138 failed bank receiverships for institutions located in the Southeast.

“Based on a review of ongoing workload and in recognition of the signs of the improving health of the banking industry, the FDIC has determined that its Dallas Regional Office will be able to absorb the remaining work of the ECTSO by the second quarter of 2014,” the FDIC said in a news release.

The FDIC said its temporary workers in Jacksonville will receive outplacement support because of the closing. It said most of the workers there were hired on a non-permanent basis.

The FDIC has already closed satellite offices in Irvine, Calif., and Schaumburg, Ill.