federal deposit insurance corporation

Beach Community Bancshares bankrupt; bank to be sold

Beach Community Bancshares bankrupt; bank to be sold

Following more than a decade of delinquent loans, capital deficiencies and poor bank ratings, Beach Community Bank will soon be under new ownership as the bank’s holding company, Beach Community Bancshares, Inc., has filed for bankruptcy. According to the documents filed in the Northern District of Florida United States Bankruptcy Court, the bank will shift […]

Gulf Breeze attorney faces 210 year sentence

Gulf Breeze attorney faces 210 year sentence

A Gulf Breeze attorney faces a potential 210 years in prison pleaded guilty to 13 felony counts of bank fraud, embezzlement and money laundering last week according to a press release by the United States Attorney for the Northern District of Florida. Richard Michael Colbert, 55, of Pensacola Beach, is charged with one count of […]