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 […]
Insiders Reap Huge Profits On Purchase Of Failed South Carolina Bank
April 10, 2010 By Leave a Comment
Myrtle Beach Bank Failure Results In Fast Profits For Insiders South Carolina saw its first banking failure since 1999 as regulators closed the failed Beach First National Bank of Myrtle Beach. The failed bank had total assets of $585.1 million and total deposits of $516.0 million. The cost to the FDIC Deposit Insurance Fund (DIF) […]
Georgia And Florida Now Account For One Third Of 2010 Bank Failures
March 27, 2010 By Leave a Comment
Four More Banks Fail In Georgia, Florida and Arizona – 2010 Total Now 41 The four failed banks for March 26, 2010 had total assets of $1.2 billion and total deposits of $1.1 billion. The cost to the FDIC Deposit Insurance Fund (DIF) for these latest banking failures is estimated at $320 million. The cost […]
7 Banks Collapse – Stunning 42% Loss On Failed Bank Assets For FDIC
March 20, 2010 By Leave a Comment
2010 Banking Failures Increase To 37 As Seven More Banks Fail March 19 – The banking crisis continues as regulators closed seven failed banks, the largest number of lenders to collapse in one week this year. The seven failed banks for March 19, 2010 had total assets of $3.3 billion and total deposits of […]
FDIC May Need Taxpayer Bailout As Banking Failures Increase To 30
March 13, 2010 By Leave a Comment
2010 Banking Failures Increase To 30 As Three More Banks Fail The banking failures continue as regulators closed three more failed banks. The three failed banks for March 12, 2010 had total assets of $1.1 billion and total deposits of $1.0 billion. The cost to the FDIC Deposit Insurance Fund (DIF) for these latest […]
New York Banking Failure Brings 2010 Total To 27
March 11, 2010 By Leave a Comment
First Banking Failure In New York Brings 2010 Total To 27 Banking regulators closed LibertyPointe Bank of New York, NY today, the first banking failure in New York this year. As of December 31, 2009 LibertyPointe had total assets of $209.7 million and total deposits of $209.5 million. The cost to the FDIC Deposit Insurance […]
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) […]
Latest Banking Failures – Rainier Pacific Bank, Carson River Community Bank
February 27, 2010 By Leave a Comment
Banking Failures in Nevada and Washington Bring 2010 Total To 22 The weekly banking failures continue as regulators closed two more failed banks in Nevada and Washington. The two failed banks had total assets of $769 million and total deposits of $496 million. The cost to the FDIC Deposit Insurance Fund (DIF) for this […]
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 […]
FDIC Encourages New Lending As Loan Defaults Grow
February 21, 2010 By Leave a Comment
Regulators Tell Banks To Lend – “Prudent Lending Will Not Be Criticized” The FDIC is encouraging banks under its supervision to increase lending to small businesses. In a recent Financial Institution Letter, the FDIC highlights reasons for the decline in lending to small businesses as well as the rationale for banks to lend more aggressively. […]