133 Banking Failures As Of December 11, 2009 The FDIC was appointed as receiver for three small banks closed by federal regulators on December 11, 2009. The three failed banks in Florida, Arizona and Kansas had a total of 11 branches with $984.4 million in assets. Although the estimated losses to the FDIC on these […]
AmTrust Bank – Fourth Largest Banking Failure Of 2009
December 5, 2009 By Leave a Comment
AmTrust And 5 Other Banks Closed By Regulators Regulators closed an additional six banks today, bringing total banking failures for the year to 130 compared to 25 bank failures during 2008. Three of the failed banks were located in Georgia, and one each in Illinois, Ohio and Virginia. The failure of Ohio’s AmTrust Bank was […]
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 […]
5 Banking Failures For November 6, 2009 Include 4th Largest Bank Failure Of 2009
November 7, 2009 By Leave a Comment
120 Banking Failures In 2009 Regulators closed 5 additional failed banks today in California, Missouri, Minnesota, Michigan and Georgia. Four of the five failed banks were relatively insignificant, having only 8 branches and total assets of $400 million. The largest failed bank of the week was United Commercial Bank, San Francisco, CA which had $11.2 […]
Regulators Attempt To Solve Commercial Loan Crisis With “Extend and Pretend” Guidelines
November 1, 2009 By Leave a Comment
“Huge Crash” In Commercial Real Estate Predicted The potential for massive losses on commercial bank loans has been an open secret for some time now. Both industry experts and regulatory agencies are concerned that a wave of defaults on commercial loans could result in billions of losses for an already weakened banking system. The latest […]
US Bank Takes Over 9 Failed Banks For October 30, 2009
October 31, 2009 By Leave a Comment
Banking Failures Hit 115 For 2009 The last week of October went out with a bang as regulators closed the largest number of banks in one week for 2009. All nine failed banks were subsidiaries of FBOP Corporation of Oak Park, Illinois. FBOP was not closed and not subject to the actions taken today by […]