Four Banks Fail In Four States May 7, 2010 – The Federal Deposit Insurance Corporation (FDIC) closed four more banks in Florida, Arizona, Minnesota and California. The total number of failed banks for the year is now 68, double the number of failures at this point during 2009. During 2009, 140 banks failed in the United States, […]
One Fourth Of Puerto Rico’s Banking Industry Collapses
April 30, 2010 By Leave a Comment
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 […]
Illinois Rocked By 7 Banking Failures
April 24, 2010 By Leave a Comment
Illinois Rocked By 7 Banking Failures – Coincidence or FDIC Strategy? Regulators focused on Illinois this week as seven failed banks in that state were closed. An FDIC spokesman suggested that multiple bank closings in one particular state enhanced the bidding process for the failed banks, thus reducing FDIC losses. Whether or not this explanation […]
Eight Banks Fail – Florida Now Leads Nation In Banking Failures
April 17, 2010 By Leave a Comment
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 […]
Insiders Reap Huge Profits On Purchase Of Failed South Carolina Bank
April 10, 2010 By Leave a Comment
Myrtle Beach Bank Failure Results In Fast Profits For Insiders South Carolina saw its first banking failure since 1999 as regulators closed the failed Beach First National Bank of Myrtle Beach. The failed bank had total assets of $585.1 million and total deposits of $516.0 million. The cost to the FDIC Deposit Insurance Fund (DIF) […]
Georgia And Florida Now Account For One Third Of 2010 Bank Failures
March 27, 2010 By Leave a Comment
Four More Banks Fail In Georgia, Florida and Arizona – 2010 Total Now 41 The four failed banks for March 26, 2010 had total assets of $1.2 billion and total deposits of $1.1 billion. The cost to the FDIC Deposit Insurance Fund (DIF) for these latest banking failures is estimated at $320 million. The cost […]
7 Banks Collapse – Stunning 42% Loss On Failed Bank Assets For FDIC
March 20, 2010 By Leave a Comment
2010 Banking Failures Increase To 37 As Seven More Banks Fail March 19 – The banking crisis continues as regulators closed seven failed banks, the largest number of lenders to collapse in one week this year. The seven failed banks for March 19, 2010 had total assets of $3.3 billion and total deposits of […]
FDIC May Need Taxpayer Bailout As Banking Failures Increase To 30
March 13, 2010 By Leave a Comment
2010 Banking Failures Increase To 30 As Three More Banks Fail The banking failures continue as regulators closed three more failed banks. The three failed banks for March 12, 2010 had total assets of $1.1 billion and total deposits of $1.0 billion. The cost to the FDIC Deposit Insurance Fund (DIF) for these latest […]
New York Banking Failure Brings 2010 Total To 27
March 11, 2010 By Leave a Comment
First Banking Failure In New York Brings 2010 Total To 27 Banking regulators closed LibertyPointe Bank of New York, NY today, the first banking failure in New York this year. As of December 31, 2009 LibertyPointe had total assets of $209.7 million and total deposits of $209.5 million. The cost to the FDIC Deposit Insurance […]
Government Taxes Prudent To Help Foolish With Mortgage Rescue Plans
March 7, 2010 By Leave a Comment
Banking Links – March 8, 2010 Volcker Says – Keep Rates Low And Spending High – Bloomberg Local Governments Seek To Renege On Bank Interest Rate Swaps – BI Hard Times To Follow Reckless Fed Policies And Easy Bank Lending – Telegraph Banks Facing Huge Losses On Mortgage Buybacks – Bloomberg The EURO Will Survive […]