September 24, 2010 – Florida has experienced more banking failures than any other state in the nation. Today’s failure of Haven Trust Bank Florida becomes the nation’s 126th banking failure and the twenty-fourth in Florida. Almost 20% of the nation’s total banking failures have now occurred in Florida. The only two other states with […]
Haven Trust Bank Florida, Ponte Vedra Beach, Florida, Closed By Regulators
September 24, 2010 By Leave a Comment
Banking Failures Spread To 28 States Across The Nation
September 17, 2010 By Leave a Comment
A nationwide drop in real estate values combined with an all time high in mortgage defaults and foreclosures have resulted in banking failures across 28 States. As of September 17, there were a total of 125 banking failures in the US and Puerto Rico. The five States with the greatest number of banking failures are […]
Pace Of Bank Failures Increase As Regulators Close Six Banks
September 17, 2010 By Leave a Comment
September 17, 2010 – After closing only one bank since August 20th, regulators picked up the pace and closed six banking institutions. With the recent increase in the number of banks on the FDIC’s “Problem Bank List“, regulators should be busy well into 2011 closing institutions that are considered “unsafe and unsound”. As of the […]
Maritime Savings Bank, West Allis, Wisconsin, Closed By Regulators
September 17, 2010 By Leave a Comment
September 17, 2010 – Maritime Savings Bank, West Allis, Wisconsin, was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver. The FDIC sold failed Maritime Bank to North Shore Bank, FSB, Brookfield, Wisconsin, which will assume all the deposits but only about half of the failed bank’s assets. Maritime Savings […]
Bramble Savings Bank, Milford, Ohio, Seized By Regulators
September 17, 2010 By 1 Comment
September 17, 2010 – Bramble Savings Bank, Milford, Ohio, was closed today by the Ohio Division of Financial Institutions, which appointed the FDIC as receiver. The FDIC sold Bramble Savings Bank to Foundation Bank, Cincinnati, Ohio, which will assume all deposits and purchase essentially all assets of failed Bramble Bank. Bramble Savings Bank was a […]
ISN Bank, Cherry Hill, New Jersey, Closed By Regulators
September 17, 2010 By Leave a Comment
September 17, 2010 – The nation’s 120th banking failure of 2010 occurred today with the closing of ISN Bank, Cherry Hill, New Jersey. ISN Bank was closed by the New Jersey Department of Banking and Insurance, which appointed the FDIC as receiver. The FDIC sold the failed one branch bank to New Century Bank (doing […]
Horizon Bank, Bradenton, FL, Closed By Regulators
September 10, 2010 By 2 Comments
September 10, 2010 – Horizon Bank, Bradenton, Florida, was closed by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bank of the Ozarks, Little Rock, Arkansas, to assume all of the deposits and essentially […]
Vanishing Banks – U.S. Loses 7,300 Banks Since 1990
September 4, 2010 By Leave a Comment
September 4, 2010 – The latest FDIC Quarterly Banking Profile reports that for the first time in almost ten years, the number of banks has declined by more than 100 in a single quarter. The number of banking institutions declined by 104 for the quarter ending June 30, the most since 113 in the third […]