July 30, 2010 -  Five more banking institutions collapsed this week in Oregon, Washington, Florida and Georgia.  Florida now leads the nation with 20 banking failures, followed by Illinois with 12. All five of this week’s failed banks were acquired by other banking institutions under purchase and assumption agreements with the FDIC acting as receiver.  The total assets [...]

July 30, 2010 – The Oregon Division of Finance and Corporate Securities closed LibertyBank, Eugene, Oregon, and appointed the FDIC as receiver.  The deposits and a portion of the failed bank’s assets were acquired by Home Federal Bank, Nampa, Idaho, under a purchase and assumption agreement with the FDIC. LibertyBank had 15 branches in Oregon, all of which will reopen [...]

July 30, 2010 – The Cowlitz Bank, Longview, Washington, was closed today by the Washington Department of Financial Institutions.  The FDIC, as receiver, entered into an agreement with Heritage Bank, Olympia, Washington, to assume all deposits and some of the assets of failed Cowlitz Bank. The Cowlitz Bank had a total of nine branches, including two in Oregon and three in [...]

July 30, 2010 – Coastal Community Bank, Panama City Beach, Florida, was closed today by the Florida Office of Financial Regulation.  Coastal Bank, the third oldest bank in Florida, was originally started as the Apalachicola State Bank in 1906.  In 2002, Apalachicola State Bank was acquired by Coastal Community Bank, a newly chartered bank.  At the time of closing, Coastal [...]

July 30, 2010 - Bayside Savings Bank, Port Sainte Joe, Florida, becomes the nation’s 105th banking failure. Bayside Savings Bank was closed today by the Office of Thrift Supervision which appointed the FDIC as receiver.  The FDIC entered into an agreement with Centennial Bank, Conway, Arkansas, to acquire all of the deposits and assets of failed Bayside Savings.  Centennial [...]

July 30, 2010 -  Northwest Bank and Trust, Acworth, Georgia, was closed today by the Georgia Department of Banking and Finance.  The FDIC was appointed as receiver and entered into a purchase and assumption agreement with State Bank and Trust Company, Macon, Georgia, to take over failed Northwest Bank.   State Bank will assume all deposits and essentially all of the assets of [...]

July 30, 2010 – The FDIC today released a list of orders of enforcement actions taken against banks and individuals.   A total of 29 cease and desist consent orders and 3 prompt corrective actions orders were issued. The Federal Deposit Insurance Corporation, the federal agency in charge of safeguarding the nation’s bank deposits, maintains a confidential Problem Bank [...]

July 23, 2010 – Home Valley Bank – Banking Failure #103 See analysis of this week’s bank closings at - Banking Failures Hit 103 As Regulators Close Seven More Banks FDIC – Home Valley Bank, Cave Junction, Oregon, was closed today by the Oregon Department of Consumer and Business Services, which appointed the Federal Deposit Insurance Corporation (FDIC) [...]

July 23, 2010 - SouthwestUSA Bank – Banking Failure #102 See analysis of this week’s bank closings at - Banking Failures Hit 103 As Regulators Close Seven More Banks FDIC – SouthwestUSA Bank, Las Vegas, Nevada, was closed today by the Nevada Financial Institutions Division, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect [...]

July 23, 2010 – Community Security Bank - Banking Failure #101 See analysis of this week’s bank closings at - Banking Failures Hit 103 As Regulators Close Seven More Banks FDIC – Community Security Bank, New Prague, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. [...]