Problem Bank List

The FDIC issued 57 enforcement actions against banks in December 2011, down from 72 in November. The December enforcement actions included 9 consent orders, 19 civil money penalties, 4 prompt corrective actions, 3 voluntary terminations of insurance, 12 removal and prohibition orders and 10 orders terminating previous consent orders and cease and desist orders. A consent order is [...]

David Stockman, former budget director in the Reagan administration, argues persuasively that the fundamental problems of the financial system are worse than in 2008. The “too big to fail” banks have become bigger, politicians have been bought and paid for, an entitled class of Wall Street financiers are being served by government policies and a massive amount of  [...]

A total of 92 banks failed during 2011, signaling a continuation of the crisis in the banking industry.  Although total banking failures during 2011 declined from the previous year, the number remains historically high.  The last time more than 50 banks failed in one year was 1992 or 20 years ago. The complete list of 2011 banking failures is listed below followed by some interesting [...]

The number of banks on the confidential FDIC Problem Bank List is at a 20 year high.  As of September 30, 2011, there were 844 institutions on the Problem Bank List, the largest number since 1992 when the total was 1,066. Since the beginning of the financial crisis in 2008, a total of 417 banks have failed nationwide, yet the number of problem banks remains stubbornly high.  Considering [...]

The first bank failures of 2012 occurred today when regulators closed three banks in Florida, Georgia and Pennsylvania. Florida and Georgia are continuing a trend from last year when they accounted for almost 40% of the nation’s 92 banking failures.  Georgia had 23 bank failures in 2011 followed by Florida with 13 bank failures.  Today’s three failed banks had total [...]

With any type of luck, American Eagle Savings Bank of Boothwyn, PA, could have gone unnoticed by regulators.  American Eagle was a speck of a bank with only $19.6 million in total assets, despite the fact that it was one of the oldest banks in the country, having been established in 1917. The smallest bank closed in 2011 was Rosemount National Bank of Minnesota that had only $37 [...]

During 2011, Georgia had the largest number of banking failures in the United States, with 23 failed banks that accounted for 25% of all banking failures.  As regulators closed the first failed banks of the new year, Georgia was once again on the list of failed banks with the closing of a large community bank. The First State Bank, Stockbridge, GA, was closed today by the Georgia [...]

The first banking failure of 2012 occurred in Florida as regulators closed Central Florida State Bank, Belleview, Florida.   During 2011, Florida had 13 banking failures, second only to Georgia which witnessed the closing of 23 banks.  Combined, Florida and Georgia accounted for 39% of the 92 bank failures that occurred during 2011. State regulators appointed the FDIC as receiver [...]

According to Micheal Olenick, founder of FindtheFraud, the worst of the housing crash and banking crisis still lies ahead of us.  Mr. Olenick’s excellent in depth analysis discusses the multiple factors that are prolonging the foreclosure crisis and explains how banks and servicers are trying to delay taking losses that could eventually reach a staggering $1 trillion. Mr. [...]

The housing crisis is widely viewed as the biggest impediment to economic recovery.  Despite the expenditure of trillions of dollars in financial support from the Federal Reserve and other government agencies, housing prices continue to decline.  In addition, the wide ranging regulatory overhaul of banking and mortgage practices being implemented under the Dodd-Frank Act, is viewed [...]