Facts For Depositors When A Bank Fails The former head of the FDIC has predicted that up to 500 banks will fail this year and the FDIC has 305 banks on it Problem Bank List. The average depositor usually has no way to determine if his bank will fail. Given these circumstances, it is important […]
Problem Bank List Grows, Deposit Insurance Fund (DIF) Running On Empty
May 27, 2009 By 2 Comments
FDIC Quarterly Banking Profile 3/31/2009 The FDIC latest Quarterly Banking Profile, released today for the quarter ending March 31, 2009, showed another increase in the number of problem banks and a further large decrease in the FDIC Deposit Insurance Fund (DIF). As of the latest quarter, the number of problem banks increased to 305 with […]
Sign Of A Problem Bank – High CD Rates
May 25, 2009 By 2 Comments
Brokered Deposits Keep Problem Banks Alive Citizens National Bank, Macomb, Illinois, was the latest failed bank on May 22, 2009. One eye-catching statistic on this bank failure was the stunning percentage of Citizens assets represented by brokered deposits. Of total deposits of $400 million, a whopping 50% ($200 million) represented brokered deposits. Many […]
BankUnited Biggest Failed Bank Of 2009 With Massive Asset Losses
May 21, 2009 By Leave a Comment
Largest Banking Failure of 2009 The failure of BankUnited, FSB is the largest banking collapse of 2009 and marks the 34th FDIC insured bank to be added to the Failed Bank List. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $4.9 billion, leaving the DIF with a balance of […]
Failed Banks For May 21, 2009
May 21, 2009 By Leave a Comment
Failed Banks: BankUnited, FSB There was one more failed bank this week on May 21 – BankUnited, FSB, Coral Gables, FL. 2009 has now seen a total of 9 more failed banks than occurred for all of 2008. The FDIC closure of BankUnited brings total banking failures for 2009 to 34 banks. The FDIC estimates […]
Deathwatch At Corus Bankshares
May 18, 2009 By 1 Comment
Corus Management Gives Bleak Assessment The deepening financial difficulties at Corus Bankshares were highlighted in the company’s latest Form 10-Q filed with the SEC today. Corus is required by banking regulators to develop a plan to achieve and maintain minimum regulatory capital levels, but today’s 10-Q filing provided little reason to believe that Corus would […]
FDIC Requests $500 Billion To Cover “Unforeseen Losses” On Failed Banks
May 18, 2009 By 1 Comment
FDIC Insurance Fund Near Empty Last week surprisingly saw no bank failures despite the fact that many banks are tottering on the edge of insolvency, such as Corus Bank. The reason the FDIC did not close more insolvent banks last week may be due to the fact that the FDIC Deposit Insurance Fund (DIF) is […]
Expert Predicts Up To 500 Failed Banks In 2009 – Is The FDIC Ready?
May 11, 2009 By 2 Comments
Can The FDIC Handle 500 Bank Failures? The former head of the Resolution Trust Company, William Seidman, recently provided commentary on the ability of the FDIC to handle its many critical assignments. According to Mr. Seidman, the successful execution of the FDIC’s new duties is critical to ensuring a recovery of the US financial system. […]
Some Interesting Facts On Failed Banks
May 10, 2009 By Leave a Comment
Failed Banks By Decade Here is the historical record on the number of bank failues in the United States since the 1930’s. By Decade Total Bank Failures 2000-2007 32 1990-1999 925 1980-1989 2,036 1970-1979 […]