July 30, 2010 – The Oregon Division of Finance and Corporate Securities closed LibertyBank, Eugene, Oregon, and appointed the FDIC as receiver. The deposits and a portion of the failed bank’s assets were acquired by Home Federal Bank, Nampa, Idaho, under a purchase and assumption agreement with the FDIC. LibertyBank had 15 branches in Oregon, […]
The Cowlitz Bank, Longview, Washington, Closed By Regulators
July 30, 2010 By Leave a Comment
July 30, 2010 – The Cowlitz Bank, Longview, Washington, was closed today by the Washington Department of Financial Institutions. The FDIC, as receiver, entered into an agreement with Heritage Bank, Olympia, Washington, to assume all deposits and some of the assets of failed Cowlitz Bank. The Cowlitz Bank had a total of nine branches, including […]
Coastal Community Bank, Florida, Closed By Regulators
July 30, 2010 By Leave a Comment
July 30, 2010 – Coastal Community Bank, Panama City Beach, Florida, was closed today by the Florida Office of Financial Regulation. Coastal Bank, the third oldest bank in Florida, was originally started as the Apalachicola State Bank in 1906. In 2002, Apalachicola State Bank was acquired by Coastal Community Bank, a newly chartered bank. At […]
Bayside Savings Bank, Florida, Closed By Office Of Thrift Supervision
July 30, 2010 By Leave a Comment
July 30, 2010 – Bayside Savings Bank, Port Sainte Joe, Florida, becomes the nation’s 105th banking failure. Bayside Savings Bank was closed today by the Office of Thrift Supervision which appointed the FDIC as receiver. The FDIC entered into an agreement with Centennial Bank, Conway, Arkansas, to acquire all of the deposits and assets of […]
Northwest Bank And Trust of Georgia Closed By Regulators
July 30, 2010 By Leave a Comment
July 30, 2010 – Northwest Bank and Trust, Acworth, Georgia, was closed today by the Georgia Department of Banking and Finance. The FDIC was appointed as receiver and entered into a purchase and assumption agreement with State Bank and Trust Company, Macon, Georgia, to take over failed Northwest Bank. State Bank will assume all deposits […]
FDIC Enforcement Actions Issued On 32 Problem Banks – Is Your Bank On This List?
July 30, 2010 By 1 Comment
July 30, 2010 – The FDIC today released a list of orders of enforcement actions taken against banks and individuals. A total of 29 cease and desist consent orders and 3 prompt corrective actions orders were issued. The Federal Deposit Insurance Corporation, the federal agency in charge of safeguarding the nation’s bank deposits, maintains a […]
Thunder Bank of Sylvan Grove, Kansas, Becomes 100th Banking Failure
July 24, 2010 By Leave a Comment
July 23, 2010 – Thunder Bank – Banking Failure #100 See analysis of this week’s bank closings at – Banking Failures Hit 103 As Regulators Close Seven More Banks FDIC – Thunder Bank, Sylvan Grove, Kansas, was closed today by the Kansas Office of the State Bank Commissioner, which appointed the Federal Deposit Insurance Corporation […]
Banking Failures Hit 103 As Regulators Close Seven More Banks
July 24, 2010 By Leave a Comment
July 23, 2010 – State and Federal regulators closed seven banks today as the banking industry continues to struggle with loan losses in a weak economy. At the current pace, the number of bank failures in 2010 may reach 200, compared to a total of 140 banking failures in 2009. In addition, the number […]
Mainstreet Savings Bank, Hastings, Michigan, Closed By Regulators
July 23, 2010 By Leave a Comment
July 16, 2010 – Mainstreet Savings Bank, FSB, Hastings, Michigan, was closed by the Office of Thrift Supervision, which appointed the FDIC as receiver. Mainstreet Savings was acquired by Commercial Bank, Alma, Michigan under a purchase and assumption agreement with the FDIC. Commercial Bank agreed to purchase all the deposits and essentially all of the […]
Olde Cypress Community Bank, Florida Closed By OTS
July 23, 2010 By Leave a Comment
July 16, 2010 – Olde Cypress Community Bank, Clewiston, Florida was closed by the Office of Thrift Supervision, which appointed the FDIC as receiver. To protect depositors, the FDIC entered into a purchase and assumption agreement with CenterState Bank of Florida, N.A., Winter Haven, Florida. CenterState Bank will assume all of the deposits and assets […]