July 23, 2010 –Crescent Bank and Trust Company – Banking Failure #98 See analysis of this week’s bank closings at – Banking Failures Hit 103 As Regulators Close Seven More Banks FDIC – Crescent Bank and Trust Company, Jasper, Georgia, was closed today by the Georgia Department of Banking & Finance, which appointed the Federal […]
Sterling Bank, Lantana, Florida Closed By State Regulators
July 24, 2010 By Leave a Comment
July 23, 2010 – Sterling Bank – Banking Failure #97 See analysis of this week’s bank closings at – Banking Failures Hit 103 As Regulators Close Seven More Banks FDIC – Sterling Bank, Lantana, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. […]
Turnberry Bank of Aventura, Florida Shut Down by Regulators
July 17, 2010 By Leave a Comment
The Office of Thrift Supervision shut down Turnberry Bank of Aventura, Florida, yesterday on July 16, 2010. The Federal Deposit Insurance Corporation (FDIC) was appointed as receiver. Turnberry Bank was a full service community bank which had served South Florida since 1985. Branches were located in Aventura, Coral Gables, Pinecrest, and South Miami, Florida. The […]
Metro Bank of Dade County, Florida Joins Failed Bank List
July 17, 2010 By Leave a Comment
MetroBank of Dade County, Miami, Florida was closed by regulators on July 16, 2010. Together with Olde Cypress Community Bank and Turnberry Bank, this was one of three Florida banks that were shut down on Friday. Florida has a total of sixteen failed banks for the year. Metro Bank had a total of six branches […]
Collapse of USA Bank, Port Chester, New York, Becomes Nation’s 89th Banking Failure
July 9, 2010 By 1 Comment
July 9, 2010 – USA Bank, Port Chester, New York, was closed today by the New York State Banking Department, which appointed the FDIC as receiver. USA Bank was acquired by New Century Bank, Phoenixville, PA, under a purchase and assumption agreement with the FDIC. New Century will assume all of the deposits and all […]
First National Bank, Savannah, Georgia, Closed By Regulators
June 25, 2010 By 1 Comment
June 25, 2010 – Troubled First National Bank, Savannah, Georgia, was closed today by the Comptroller of the Currency, which appointed the FDIC as receiver. Failed First National was acquired by The Savannah Bank, N.A., Savannah, GA, in a purchase and assumption agreement with the FDIC. All of First National’s deposits and “some” of the […]
Record High Delinquency Rates On Commercial Loans Stress Banks
June 24, 2010 By 1 Comment
June 24, 2010 – Commercial and multifamily delinquencies continued to increase in the first quarter of 2010 according to a report by the Mortgage Bankers Association. According to Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research, “Weakness in the economy has continued to weigh on commercial properties, which in turn weighs on the […]
SAY GOODBYE TO LOW MORTGAGE RATES
March 30, 2010 By Leave a Comment
BANKING LINKS Are Mortgage Rates Set To Skyrocket? “And bonds are now telling us that long-term interest rates are preparing for a major upside breakout. One look at a chart of the 10-year Treasury rate bears this out” – Barron’s Banks Need More Capital – No Agreement On How Much “Conspicuously absent from any regulatory […]
Is The Banking Industry On The Road To Recovery Or Perdition?
March 13, 2010 By Leave a Comment
Banking Links No Catching Up – Staggering 10% Of All Mortgage Borrowers Are Delinquent 3 Payments – WP Many Mortgage Borrowers Beyond “Help” – MSN Will Dodd’s Financial “Reform” Program Really Solve Anything? – LAT How Lenders Are Hiding Defaulting Commercial Real Estate Loans – MM Another Bad Idea – Governments Seek To Solve Debt […]
Will A New Flood Of Mortgage Bailouts And Defaults Crush Bank Earnings?
February 10, 2010 By Leave a Comment
Banking Links Expect Homeowner Mortgage Bailouts To Continue On Massive Scale – Mortgage Balances Exceed Home Values For 1 of 5 Homeowners – Bloomberg Looming Credit Downgrades For Citi and BofA – FT Easy Money Fuels Canada’s Housing Boom – WSJ What Caused the Housing Bubble – Lax Monetary Policy or Poor Regulation? – Credit […]