January 15, 2010 – Regulators Close 3 Banks Regulators closed three banks today in Utah, Minnesota and Illinois. The three failed banks had total assets of $922.1 million and total deposits of $877.3. The total cost to the FDIC Deposit Insurance Fund for the three failed banks is estimated at $296.3 million or 32% of […]
FDIC Sells Failed Bank Loans At Steep Discount
January 9, 2010 By Leave a Comment
Private Investors Make Very Leveraged Bet On Asset Value Recovery The FDIC currently holds approximately $30 billion in failed bank assets from banks that have failed in the past 18 months. The assets held by the FDIC were of such dubious quality that the FDIC was unable to entice acquiring banks to purchase them, despite […]
AmTrust Bank – Fourth Largest Banking Failure Of 2009
December 5, 2009 By Leave a Comment
AmTrust And 5 Other Banks Closed By Regulators Regulators closed an additional six banks today, bringing total banking failures for the year to 130 compared to 25 bank failures during 2008. Three of the failed banks were located in Georgia, and one each in Illinois, Ohio and Virginia. The failure of Ohio’s AmTrust Bank was […]
Bank Lending Implodes And Loan Defaults Hit Record Levels
November 25, 2009 By Leave a Comment
FDIC 2009 Third Quarter Banking Profile Depicts Troubled Banking Industry The FDIC released its Quarterly Banking Profile today which shows continued deterioration in the financial performance of the banking industry during the third quarter of 2009. The Quarterly Banking Profile depicts a banking industry that continues to struggle as shown by deteriorating loan quality, increased […]
FDIC Losses Total $1Billion On 3 Bank Failures
November 14, 2009 By Leave a Comment
Banking Failures Hit 123 As Of November 13, 2009 Regulators closed three additional banks today in Florida and California. The three failed banks had a total of 36 branches with total assets of $3.6 billion. The total cost to the FDIC Deposit Insurance Fund for the three failed banks is estimated at $986.4 million. The […]
Commercial Real Estate – The Most Widely Advertised Crash In History
November 12, 2009 By Leave a Comment
Is Armageddon Upon Us? Predictions of Armageddon for the commercial real estate market are being urgently issued daily by prognosticators of doom. Many analysts are breathlessly predicting that collapsed real estate prices ensure a mountain of defaulting commercial real estate loans that will lead to the failure of thousands of small and regional banks. […]
5 Banking Failures For November 6, 2009 Include 4th Largest Bank Failure Of 2009
November 7, 2009 By Leave a Comment
120 Banking Failures In 2009 Regulators closed 5 additional failed banks today in California, Missouri, Minnesota, Michigan and Georgia. Four of the five failed banks were relatively insignificant, having only 8 branches and total assets of $400 million. The largest failed bank of the week was United Commercial Bank, San Francisco, CA which had $11.2 […]