Four Banks Fail In Four States May 7, 2010 – The Federal Deposit Insurance Corporation (FDIC) closed four more banks in Florida, Arizona, Minnesota and California. The total number of failed banks for the year is now 68, double the number of failures at this point during 2009. During 2009, 140 banks failed in the United States, […]
Eight Banks Fail – Florida Now Leads Nation In Banking Failures
April 17, 2010 By Leave a Comment
8 Bank Failures – Loss To FDIC Insurance Fund Almost $1 Billion Regulators closed eight more failed banks in 5 states today resulting in an estimated cost to the FDIC Insurance Deposit Fund (DIF) of $984.7 million. The eight failed banks for April 16, 2010 had total assets of $6.25 billion and total deposits of […]
Bank Depositors Lose Millions As FDIC Finds No Buyers For 2 Failed Banks
March 6, 2010 By Leave a Comment
Banking Failures in Florida, Illinois, Maryland and Utah Bring 2010 Total To 26 The weekly banking failures continue as regulators closed four more failed banks. The four failed banks for March 5, 2010 had total assets of $1.1 billion and total deposits of $1.0 billion. The cost to the FDIC Deposit Insurance Fund (DIF) […]
Graphic Look At The Sorry State Of US Banking
February 24, 2010 By Leave a Comment
Quarterly Banking Profile December 31, 2009 The FDIC Quarterly Banking Profile for the latest quarter ending December 31, 2009 continues to show a banking industry struggling with record levels of charge-offs and noncurrent loans. Net Charge-offs And Noncurrent Loans At Record Levels Net charge-offs for the fourth quarter of $53 billion increased by $14.4 billion […]
Buyers For Failed Banks Hard To Find As FDIC Loses $1.8 Billion On 7 Bank Closings
December 19, 2009 By 1 Comment
7 Banking Institutions Closed On December 18, 2009 – FDIC Forced To Retain $1.9 Billion In Failed Bank Assets – Depositors Lose $3.2 Million As the number of banking failures increase, the FDIC appears to be encountering increasing difficulty in finding buyers for failed banks, despite agreeing to cover a large percentage of potential losses […]
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 […]
FDIC To Bolster Insurance Fund With Prepaid Bank Assessments
September 29, 2009 By Leave a Comment
FDIC To Increase DIF By $45 Billion The FDIC announced today a proposal to increase the deposit insurance fund (DIF) by requiring financial institutions to prepay three years of assessments. The collection of prepaid assessments will allow the FDIC to cover the cost of future banking failures without tapping their credit line with the US […]
FDIC Seeks To Avoid Treasury Bailout
September 29, 2009 By Leave a Comment
The FDIC Board of Directors will meet today to discuss the Deposit Insurance Fund Restoration Plan, assessments and funding. As the number of banking failures continues to increase, it has become obvious that the current amount of reserves ($10.4 billion) in the FDIC deposit insurance fund (DIF) are totally inadequate to cover expected FDIC losses […]
5 Failed Banks For September 4, 2009
September 4, 2009 By Leave a Comment
Banking Failures – 89 And Counting 2009 has now seen a total of 64 more failed banks than occurred for all of 2008. The latest banking closures by the FDIC bring total banking failures for 2009 to 89. The latest five failed banks on September 4, 2009 had total assets of $1.14 billion and total […]