Doral Bank Collapses After Years of Financial Losses – Largest Bank Failure Since 2010

The largest bank failure since 2010 left the FDIC on the hook for almost $1 billion in losses as the giant $5.9 billion asset Doral Bank, San Juan, Puerto Rico, was closed by bank regulators.  Doral Bank has been a bank failure waiting to happen as years of losses and economic turmoil in Puerto Rico […]

Capitol City Bank & Trust Co, Georgia, Collapses – Largest Bank Failure of 2015

The largest bank failure of the year occurred today as regulators closed down Capitol City Bank & Trust Company, Atlanta, Georgia.  After shuttering the bank, the Georgia Department of Banking & Finance appointed the FDIC as receiver.  To protect depositors the FDIC sold the failed bank under a purchase and assumption agreement to First-Citizens Bank […]

Highland Community Bank, IL, Second Bank Failure of 2015

The second bank failure of the year occurred in Illinois when state regulators closed Highland Community Bank, Chicago, IL.  During 2014 Illinois had five banking failures, the most of any state. After closing Highland Community Bank, state regulators appointed the FDIC as  receiver.  To protect depositors the FDIC sold the failed bank to United Fidelity […]

1st Bank Failure of 2015 – Feds Close First National Bank of Crestview, FL

The first banking failure of 2015 occurred in the state of Florida as the Office of the Comptroller of the Currency shut down the First National Bank of Crestview, Crestview, Florida.  The FDIC, appointed as receiver, sold the failed bank to First NBC Bank, New Orleans, Louisiana, which will assume all deposits of First National […]

Northern Star Bank, Mankato, MN, Becomes 18th Bank Failure of 2014

State regulators swooped in today to close the Northern Star Bank, Mankato, Minnesota.  After closing the Bank, the Minnesota Department of Commerce appointed the FDIC as receiver.  The FDIC in turn sold the failed bank to BankVista, Sartell, MN, under a purchase and assumption agreement. Northern Star Bank has been under regulatory scrutiny for years […]

Frontier Bank, FSB, Palm Desert, CA, Closed by Regulators – 17th Bank Failure of 2014

The seventeenth bank failure of the year occurred in California today as regulators shuttered the Frontier Bank, FSB, a small bank headquartered in Palm Desert, CA doing business as El Paseo Bank. The Office of the Comptroller of the Currency closed Frontier Bank and appointed the FDIC as receiver which in turn sold the failed […]

Largest Bank Failure of 2014 – The National Republic Bank of Chicago

Illinois has been a tough place for banks this year.  A third of all bank failures during 2014 have occurred in Illinois and the collapse of The National Republic Bank of Chicago also gives Illinois the distinction of having the nation’s largest bank failure. The National Republic Bank of Chicago, Chicago, Illinois, (TNRBC) was shuttered […]

NBRS Financial, Rising Sun, MD, Becomes 15th Bank Failure of 2014

The Maryland Office of the Commissioner of Financial Regulation closed today NBRS Financial, Rising Sun, Maryland, and appointed the FDIC as receiver.  The FDIC in turn sold the failed bank to Howard Bank, Elliott City, Maryland, which will assume all deposits of NBRS Financial. NBRS Financial was originally founded in 1873 under the name The […]

Bank Failures Fall to Seven Year Low

During the financial crisis the number of banking failures swelled to a peak failure year during 2010 when a total of 157 banking institutions failed. The number of bank failures has declined every year since then and the number of banks failures during 2014 has reached a seven year low. Is the current low number […]

Five Years After the Banking Crisis, Hundreds of Problem Banks Still Struggle

While many banks have completely recovered from the banking and financial crises of over six years ago, the number of banks classified as “Problem Banks” by the FDIC has remained stubbornly high. A milestone of sorts was reached recently when, after five years, the number of banks on the FDIC’s Problem Bank List finally declined […]