November 17, 2010 – As anticipated, the Federal Reserve Board issued guidelines to the nation’s largest bank holding companies (BHCs) for evaluating plans to pay stock dividends or repurchase common stock. The Fed stated that the guidelines are a conservative approach to “ensure that the BHCs hold adequate capital to maintain ready access to funding, […]
Fed Puts Bank Dividend Payments On Hold Until Capital Adequacy Tested
November 18, 2010 By Leave a Comment
Warren Buffett Bullish On Wells Fargo – Stock Price Unchanged For 10 Years
November 16, 2010 By 1 Comment
If you want to invest in bank stocks, legendary Warren Buffett says buy Wells Fargo. Wells Fargo, the fourth largest bank holding company in the United States with $1.22 trillion dollars in assets emerged from the financial crisis in far better shape than many of its large competitors. The management team at Wells avoided high […]
One West Bank Seeks Growth With Citibank Loan Purchase
November 13, 2010 By 1 Comment
One West Bank, newly chartered in early 2009, is the banking industry’s biggest success story. At a time when many banks are failing or struggling with nonperforming loans and slow growth, One West has earned almost $2 billion in profits for its founders by acquiring three failed banks, including giant IndyMac Bank which failed in […]
Copper Star Bank, Scottsdale, AZ, Closed By Regulators
November 12, 2010 By Leave a Comment
November 12, 2010 – Copper Star Bank, Scottsdale, Arizona, was closed today by the Superintendent of the Arizona Department of Financial Institutions, which appointed the FDIC as receiver. The FDIC entered into a purchase and assumption agreement with Stearn Bank, N.A., St. Cloud, Minnesota, to assume all deposits and purchase all of the failed bank’s […]
Tifton Banking Company, Tifton, GA, Closed By Regulators
November 12, 2010 By Leave a Comment
November 12, 2010 – Tifton Banking Company, Tifton, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the FDIC as receiver. Ameris Bank, Moultrie, Georgia, acquired the failed bank from the FDIC under a purchase and assumption agreement. Ameris Bank also acquired today another failed bank, Darby Bank & Trust […]
Washington Mutual – Largest Banking Failure In History Turns Out Well For Many But Shareholders Left Fuming
November 9, 2010 By 23 Comments
The collapse of Washington Mutual Bank on September 25, 2008 is officially listed as the largest banking failure in history by the FDIC. The collapse of Washington Mutual occurred after nervous depositors withdrew $16.7 billion in the ten days prior to the bank’s collapse. Fearing a classic run on the bank situation and perhaps a […]
Pierce Commercial Bank, Tacoma, Washington, Closed By Regulators
November 5, 2010 By Leave a Comment
November 5, 2010 – Pierce Commercial Bank of Tacoma, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the FDIC as receiver. Heritage Bank, Olympia, Washington, agreed to purchase the failed bank, assuming all deposits and purchasing all assets of failed Pierce Bank. The one branch of Pierce Bank will reopen […]
Western Commercial Bank, Woodland Hills, CA, Closed By Regulators
November 5, 2010 By Leave a Comment
November 5, 2010 – Western Commercial Bank, Woodland Hills, California, was closed today by the California Department of Financial Institutions, which appointed the FDIC as receiver. The FDIC entered into a purchase and assumption agreement with First California Bank, Westlake Village, California, to assume all deposits and purchase all assets of failed Western Commercial. Western […]
Failed K Bank, Randallstown, MD, Acquired By M&T Bank
November 5, 2010 By 5 Comments
November 5, 2010 – K Bank, Randallstown, Maryland, was closed today by the Maryland Office of Financial Regulation, which appointed the FDIC as receiver. K Bank, the fourth banking failure in Maryland this year, becomes the 140th banking failure of the year. Total banking failures for 2010 now match the 140 banking failures for all […]
Confidence In Banks Shattered As Wilmington Trust Reports Huge Unexpected Loss – Shareholders Trashed
November 3, 2010 By Leave a Comment
November 2, 2010 – Speculation had been building for the past month over whether troubled Wilmington Trust would sell itself to another bank or be able to raise additional private equity and remain independent. Wilmington Trust received $330 million from the US Treasury in 2008 under the Troubled Asset Relief Program (TARP) and raised another […]