Imperial Savings and Loan, Martinsville, Virginia, Closed By Regulators

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, […]

Banking Failures Hit 25 States Across The Nation

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. […]