August 22, 2010 – The latest week’s 8 banking failures brought the total for 2010 to 118 banks across 26 States. The eight banks closed by regulators on August 20, 2010 were located in California, Illinois, Virginia and Florida. The 8 banks closed by regulators along with their total assets and estimated loss to the […]
Sonoma Valley Bank Of California One Of Eight Banking Failures For The Week
August 21, 2010 By Leave a Comment
August 20, 2010 – Sonoma Valley Bank, Sonoma, California, was closed today and the FDIC appointed as receiver. To protect depositors, the FDIC sold failed Sonoma Valley Bank to Westamerica Bank, San Rafael, California, which will assume all deposits and purchase essentially all assets of Sonoma Valley Bank. <!– /* Font Definitions */ @font-face {font-family:Calibri; […]
Los Padres Bank Of California Collapses – Total Of 8 Failures For The Week
August 21, 2010 By Leave a Comment
August 20, 2010 – Los Padres Bank, Solvang, California, was closed today and the FDIC appointed as receiver. To protect depositors, the FDIC sold failed Los Padres Bank to Pacific Western Bank, San Diego, California, which will assume all deposits and purchase essentially all assets of Los Padres. All 14 branches of Los Padres will […]
Butte Community Bank and Pacific State Bank Closed By State of California
August 21, 2010 By 1 Comment
August 20, 2010 – Butte Community Bank, Chico, California, and Pacific State Bank, Stockton, California, were closed today by the California Department of Financial Institutions, which appointed the FDIC as receiver. Both failed banks with a total of 23 branches were acquired by Rabobank, N.A., El Centro, California which agreed to assume all deposits and […]
Imperial Savings and Loan, Martinsville, Virginia, Closed By Regulators
August 20, 2010 By Leave a Comment
August 20, 2010 -Imperial Savings and Loan Association, Martinsville, Virginia, was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver. Imperial Savings was purchased by another local bank, River Community Bank, N.A., Martinsville, Virginia, which will assume all deposits and purchase essentially all assets of the failed bank. Imperial Savings, […]
Independent National Bank, Ocala, Florida, Closed By Regulators
August 20, 2010 By Leave a Comment
August 20, 2010 – Independent National Bank, Ocala, Florida, was closed today by the Office of the Comptroller of the Currency which appointed the FDIC as receiver. The FDIC entered into a purchase and assumption agreement with CenterState Bank of Florida, N.A., Winter Haven, Florida, to assume all deposits and assets of failed Independent National. […]
Community National Bank of Bartow Florida Closed By Regulators
August 20, 2010 By Leave a Comment
August 20, 2010 – Community National Bank at Bartow, Bartow, Florida, was closed today by the Office of the Comptroller of the Currency which appointed the FDIC as receiver. The FDIC entered into a purchase and assumption agreement with CenterState Bank of Florida, N.A., Winter Haven, Florida, to assume all deposits and assets of failed […]
Palos Bank and Trust Company Of Illinois Closed By Regulators
August 13, 2010 By Leave a Comment
August 13, 2010 – Palos Bank and Trust Company, Palos Heights, Illinois was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the FDIC as receiver. The FDIC entered into a purchase and assumption agreement with First Midwest Bank, Itasca, Illinois to assume all deposits and purchase essentially all assets of […]
Banking Failures Hit 25 States Across The Nation
August 13, 2010 By Leave a Comment
August 13, 2010 – Despite a nationwide drop in real estate values and all time high rates of mortgage defaults and foreclosures, 25 States have not had a banking failure in 2010. States that would seem to be obvious candidates for a large number of bank failures have actually experienced a small number of failures. […]