Failed bank office equipment up for auction

2012-12-10T12:10:00Z 2012-12-14T16:57:03Z Failed bank office equipment up for auctionBy Lisa Brown 314-340-8127

Less than two months after Excel Bank failed, desk chairs, file cabinets and office appliances from its mortgage office in Clayton are being auctioned this week.

Excel Bank, which is based in Sedalia, was closed Oct. 19 by the Missouri Division of Finance. The bank had a branch in Kirkwood and a mortgage office in Clayton. After the bank was closed by regulators, its assets and deposits were acquired by Simmons First National Bank, which is based in Pine Bluff, Ark.

The 94 lots for sale in the auction include a coffee maker and a coat rack formerly owned by Excel Bank. By early afternoon Monday, 22 bidders had submitted offers for a wood conference table, with a high bid of $105. 

The online auction at is slated to close Wednesday, Dec. 12. 

The Federal Deposit Insurance Corporation, which was named Excel Bank's receiver, estimated that the cost of the bank failure to the Deposit Insurance Fund will total $40.9 million.

Excel Bank was the third FDIC-insured Missouri bank to fail in 2012 and the 46th in the nation. 


Lisa Brown is a reporter at the Post-Dispatch covering banking and other business news. Follow her on Twitter @LisaBrownSTL and the Business section @postdispatchbiz.

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