You are browsing the archives of 2009 August.

Banking Failures - 84 And Counting
2009 has now seen a total of 59 more failed banks than occurred for all of 2008.  The latest banking closures by the FDIC bring total banking failures for 2009 to 84.  The latest three failed banks on August 28, 2009 had total assets of $1.9 billion and total losses [...]

Banking Industry - Recovery or Another Bailout?
The latest FDIC Quarterly Banking Profile shows a banking industry still in turmoil, as non performing loans reached all time highs.  The banking industry reported an aggregate net loss of $3.7 billion in the latest quarter ending June 30, 2009 compared to a year ago quarterly profit of $4.7 [...]

Quarterly Banking Profile, June 30, 2009
On August 27, 2009, the FDIC released their Quarterly Banking Profile for the Second Quarter of 2009.
The Banking Profile depicts a banking industry that continues to struggle as shown by deteriorating loan quality, an increased number of banks on the Problem Bank List, a declining FDIC Insurance Fund, aggregate losses [...]

FDIC’s Objective Is A “Safe and Sound” Banking System
On July 2, 2009, the FDIC issued a proposed policy statement on the qualifications for failed bank acquisitions by private capital investors.  Since that time, their have been intense lobbying efforts by private equity groups to persuade the FDIC to relax the rather stringent proposed capital requirements [...]

Bidding Deadline Set For Corus - Closure Expected In September

Reuters is reporting a bidding deadline for problem bank Corus Bankshares of September 3, 2009.  The disclosure of a bidding deadline followed shortly by a bank closure follows the procedure recently observed with the closing of Guaranty Financial Group last week.   The closing of Corus [...]

Banking Failures Continue
Banks are facing numerous problems in the current banking crisis.   Mortgage defaults continue to rise to unprecedented levels, commercial loans are forecast to be the next black hole in bank balance sheets and loan volume continues to contract.
The FDIC has been closing banks at what appears to be a leisurely pace due to [...]

Banking Failures - 81 And Counting
2009 has now seen a total of 56 more failed banks than occurred for all of 2008.  The latest banking closures by the FDIC bring total banking failures for 2009 to 81.  The latest four failed banks on August 21, 2009 had total assets of $13.9 billion and total losses [...]

Lending Losses Doom Guaranty Financial
Although not formally announced by the banking regulators, it looks virtually certain that Guaranty Financial will be closed on Friday.   Numerous reports indicate that Guaranty Financial will be taken over by Banco Bilbao Vizcaya Argentaria SA of Spain in an FDIC assisted transaction.  As was the case with the closing last [...]

Depositors Face Loss Of $4.2 Million On Bank Failure
The closing of Community Bank of Nevada last week came as a very unpleasant surprise to some depositors.  The FDIC estimates that there was approximately $4.2 million of uninsured deposits in the bank at the time of closing.  The uninsured depositors had savings in the bank in [...]

FDIC Debt Guarantees Decline 5.6%
The FDIC Temporary Loan Guarantee Program (TLGP) was instituted late last year.  The program’s stated purpose and goals, according to the FDIC, is as follows:
The FDIC has created this program to strengthen confidence and encourage liquidity in the banking system by guaranteeing newly issued senior unsecured debt of banks, thrifts, and [...]