Shareholders Facing 100% Loss On Investment June 4, 2010 – Nebraska’s first bank closing of 2010 was the giant TierOne Bank of Lincoln, Nebraska.  TierOne was one of the largest publicly held thrifts in the Midwest and had 69 branches located in Nebraska, Iowa and Kansas.   According to the bank’s website, TierOne was originally organized in 1907 as Fidelity [...]

Losses on 7 Banking Failures Total $7.3 Billion Regulators turned their attention this week to Puerto Rico whose banking industry has been devastated by collapsing property values, poor lending decisions and a depressionary economy.   The basic facts on this week’s banking failures in Puerto Rico all indicate a banking system failure of epic proportions.  The three failed [...]

8 Bank Failures – Loss To FDIC Insurance Fund Almost $1 Billion Regulators closed eight more failed banks in 5 states today resulting in an  estimated cost to the FDIC Insurance Deposit Fund (DIF) of $984.7 million.  The eight failed banks for April 16, 2010 had total assets of $6.25  billion and total deposits of $5.18 billion.  The cost to the FDIC DIF for the 50 [...]

AmTrust And 5 Other Banks Closed By Regulators Regulators closed an additional six banks today, bringing total banking failures for the year to 130 compared to 25 bank failures during 2008.   Three of the failed banks were located in Georgia, and one each in Illinois, Ohio and Virginia. The failure of Ohio’s AmTrust Bank was the fourth largest banking failure of 2009. Institution [...]

120 Banking Failures In 2009 Regulators closed 5 additional failed banks today in California, Missouri, Minnesota, Michigan and Georgia.  Four of the five failed banks were relatively insignificant, having only 8 branches and total assets of $400 million. The largest failed bank of the week was United Commercial Bank, San Francisco, CA which had $11.2 billion in assets.  The [...]

Banking Failures – 77 And Counting 2009 has now seen a total of 52 more failed banks than occurred for all of 2008.  The latest banking closures by the FDIC bring total banking failures for 2009 to 77.  The latest five failed banks on August 14, 2009 had total assets of $26.8 billion and total losses to the FDIC Deposit Insurance Fund (DIF) are estimated at $3.7 billion. The [...]

Five Biggest Bank Failures Ever As the US banking crisis grew steadily worse during 2008, the largest bank failure as of July 2008 (Indy Mac) ranked only number 3 on the list of the largest bank failures in history. 5 Biggest Bank Failures As Of July 2008 Institution Name                    Date                $Assets Billions Continental Illinois                 [...]