Tucked away in the FDIC press releases we find this little note of interest:

May 8, 2009

The Federal Deposit Insurance Corporation (FDIC) today announced it will open a temporary satellite office in Jacksonville, Florida, to manage receiverships and to liquidate assets from failed financial institutions primarily located in the eastern states.

After conducting a competitive leasing acquisition process, the FDIC entered into a short-term agreement to lease space at 7777 Baymeadows Way in Jacksonville. The decision was based on mission needs and workload. (emphasis added)

The new office will provide facilities for up to 500 nonpermanent staff and contractors. Staffing will be based on the workload needs of this office, based on the number of closings in the eastern states, the resulting number of receiverships, and the post-closing workload.

Throughout its history, the FDIC has used these offices to keep temporary asset resolution staff closer to the concentration of failed bank assets they oversee. As the work diminishes, the temporary satellite offices are closed.

The FDIC expects to gradually move into the space starting in mid-September 2009.

Wow, 500 temporary employees to be operating out of a satellite office in Florida. And the office won’t even open until September of this year.

So while the government talks of green shoots everywhere, the FDIC is getting ready for what appears to be ‘an expected’ onslaught of bank failures later this year, perhaps in the Florida area.