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 […]
Butte Community Bank and Pacific State Bank Closed By State of California
August 21, 2010 By 1 Comment
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 […]
Calls For More Lending To Small Businesses Misguided
August 20, 2010 By Leave a Comment
August 19, 2010 – After another bad jobs report, President Obama called for an increase in lending to small businesses. According to the President, “Small businesses and community banks that loan to small businesses have been lagging behind. If we want this economy to create more jobs more quickly, we need to help them.” The […]
Bank Loan Demand Remains Weak As Consumers Repair Tattered Balance Sheets
August 18, 2010 By 1 Comment
August 19, 2010 – The latest Federal Reserve survey of bank lending practices showed a net modest easing in credit standards and terms in the second quarter. The slight loosening of credit standards, however, was not widespread. The Fed’s report noted that “While the survey results suggest that lending conditions are beginning to ease, the […]
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. […]
Dodd-Frank Financial Regs Could Cripple Lending
August 13, 2010 By Leave a Comment
August 13, 2010 – As the scope of the recently passed Dodd-Frank Act is assessed, many are convinced that the massive new regulatory burdens imposed by the new bill could cripple bank lending and restrain economic growth. Despite the good intentions of Congress, the unintended consequences of a massively complex and ambiguous financial reform bill […]