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 […]
Maritime Savings Bank, West Allis, Wisconsin, Closed By Regulators
September 17, 2010 By Leave a Comment
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 […]
Identity Thieves Impersonate FDIC To Steal Money
September 9, 2010 By Leave a Comment
September 9, 2010 – As if the Federal Deposit Insurance Corporation (FDIC) didn’t have enough issues to contend with, it now appears than criminals are impersonating the FDIC in an attempt to steal money or obtain sensitive financial information from consumers. The FDIC reports that it has received numerous reports of scam artists calling consumers and […]
FDIC Cites 30 Banks For “Unsafe or Unsound” Banking Practices
August 27, 2010 By 5 Comments
August 27, 2010 – The FDIC today released a list of orders of administrative enforcement actions taken against banks, including 30 cease and desist consent orders. A cease and desist order is issued when the FDIC has “determined that it had reason to believe that the Bank engaged in unsafe or unsound banking practices and […]
8 Banks With $4.4 Billion In Assets Fail – August 20, 2010
August 22, 2010 By Leave a Comment
August 22, 2010 – The latest week’s 8 banking failures brought the total for 2010 to 118 banks across 26 States. The eight banks closed by regulators on August 20, 2010 were located in California, Illinois, Virginia and Florida. The 8 banks closed by regulators along with their total assets and estimated loss to the […]