November 5, 2010 – A nationwide drop in real estate values combined with an all time high in mortgage defaults and foreclosures have resulted in banking failures across 28 States. As of November 5, there were a total of 143 banking failures in the US and Puerto Rico. The five States with the greatest number […]
Florida Leads The Nation In Banking Failures – 5 States Account For Almost 60% Of Total Banking Failures
November 6, 2010 By Leave a Comment
Four More Banking Failures Push Year’s Total Above 2009 Failures
November 6, 2010 By Leave a Comment
November 5, 2010 – The number of banking failures in 2010 now exceeds last year’s total of 140, which was the most since 1992. Four additional banking failures this week brings the year’s total to 143 as regulators closed banks in Maryland, California and Washington. With over 10% of all FDIC insured institutions on the […]
7 Banking Failures Hit Arizona, Kansas, Illinois, Georgia and Florida
October 23, 2010 By Leave a Comment
October 22, 2010 – Regulators closed seven banks today in five different States. The total number of banking failures is now only one shy of last year’s total of 139. Banking failures are now at the highest level since 1992 when a large number of banks failed due to the savings and loan crisis. Highlights […]
Restoration of Depleted FDIC Deposit Insurance Fund Could Take 10 Years
October 21, 2010 By Leave a Comment
October 19, 2010 – The FDIC announced today a long term Restoration Plan to return the Deposit Insurance Fund (DIF) to a positive balance. The long term goal of the proposed fund management plan is to maintain a positive fund balance, even “during periods of large fund losses, and maintaining steady, predictable assessment rates throughout economic […]
Monterey County Bank, Monterey California, Cited By FDIC For Deceptive Practices
October 5, 2010 By 1 Comment
October 5, 2010 – Monterey County Bank, Monterey, California, agreed to pay $3 million under a Consent Order with the FDIC for deceptive practices under the Fair Debt Collection Practices Act. The terms of the settlement were announced in an FDIC Press Release. The Federal Deposit Insurance Corporation (FDIC) announced a settlement with Monterey County […]
Florida and Washington Hit By Banking Failures – 10% Of All Banks At Risk Of Failure
October 1, 2010 By 2 Comments
October 1, 2010 – In an exact repeat of last week’s failed bank activity, Florida and Washington both experienced banking failures, bringing the nation’s total of failed banks for the year to 129. Considering the increased number of Problem Banks reported by the FDIC and with three months still remaining in 2010, this year’s banking […]
Banking Failures In Washington and Florida Bring Year’s Total To 127
September 24, 2010 By Leave a Comment
September 24, 2010 – Banking failures in Washington and Florida brought the nation’s total number of banking failures to 127. The State of Florida remains unchallenged as the nation’s top state for banking failures. With this week’s failure of Haven Trust Bank Florida, Florida now accounts for nearly 20% of the total banking failures for […]
Banking Failures Spread To 28 States Across The Nation
September 17, 2010 By Leave a Comment
A nationwide drop in real estate values combined with an all time high in mortgage defaults and foreclosures have resulted in banking failures across 28 States. As of September 17, there were a total of 125 banking failures in the US and Puerto Rico. The five States with the greatest number of banking failures are […]
Maritime Savings Bank, West Allis, Wisconsin, Closed By Regulators
September 17, 2010 By Leave a Comment
September 17, 2010 – Maritime Savings Bank, West Allis, Wisconsin, was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver. The FDIC sold failed Maritime Bank to North Shore Bank, FSB, Brookfield, Wisconsin, which will assume all the deposits but only about half of the failed bank’s assets. Maritime Savings […]
Bramble Savings Bank, Milford, Ohio, Seized By Regulators
September 17, 2010 By 1 Comment
September 17, 2010 – Bramble Savings Bank, Milford, Ohio, was closed today by the Ohio Division of Financial Institutions, which appointed the FDIC as receiver. The FDIC sold Bramble Savings Bank to Foundation Bank, Cincinnati, Ohio, which will assume all deposits and purchase essentially all assets of failed Bramble Bank. Bramble Savings Bank was a […]