November 23, 2010 – The third quarter 2010 FDIC Quarterly Banking Profile showed an increase in the number of Problem Banks from 829 to 860. The number of banks on the Problem Bank List now represents 11% of all FDIC insured institutions. Total assets of Problem Banks decreased slightly from $403 billion to $379 billion […]
FDIC Problem Bank List Increases Again To Highest Level Since 1993
November 23, 2010 By Leave a Comment
Four More Banking Failures Push Year’s Total Above 2009 Failures
November 6, 2010 By Leave a Comment
November 5, 2010 – The number of banking failures in 2010 now exceeds last year’s total of 140, which was the most since 1992. Four additional banking failures this week brings the year’s total to 143 as regulators closed banks in Maryland, California and Washington. With over 10% of all FDIC insured institutions on the […]
Many Of These Problem Banks Will Fail – FDIC Discloses Enforcement Actions
October 30, 2010 By Leave a Comment
October 30, 2010 – The FDIC recently released a list of orders of administrative enforcement actions taken against banks in September, including 30 “Consent Orders” (formerly called “cease and desist consent orders”) and 5 Prompt Corrective Actions. Formal enforcement actions are publicly disclosed by regulators and used to address severe deficiencies or when regulators have […]
7 Banking Failures Hit Arizona, Kansas, Illinois, Georgia and Florida
October 23, 2010 By Leave a Comment
October 22, 2010 – Regulators closed seven banks today in five different States. The total number of banking failures is now only one shy of last year’s total of 139. Banking failures are now at the highest level since 1992 when a large number of banks failed due to the savings and loan crisis. Highlights […]
First Arizona Savings of Arizona Fails – FDIC Finds No Buyer and Depositors Lose $6 Million
October 22, 2010 By 2 Comments
October 22, 2010- There are likely to be some shell shocked depositors tonight at First Arizona Savings, A FSB, Scottsdale, Arizona, who stand to lose $5.8 million in uninsured deposits. After the Office of Thrift Supervision closed First Arizona and appointed the FDIC as receiver, the FDIC was unable to find a buyer for failed […]
Hillcrest Bank, Overland Park, Kansas, Collapses Under Bad Loans
October 22, 2010 By Leave a Comment
October 22, 2010 – Hillcrest Bank, Overland Park, Kansas, a $1.6 billion dollar asset institution, became the largest banking failure this week. Regulators also closed six other banking institutions in Florida, Georgia, Illinois and Arizona. Hillcrest Bank was closed by the Kansas Office of the State Banking Commissioner, which appointed the FDIC as receiver. The […]
First Suburban National Bank of Illinois Closed By Regulators
October 22, 2010 By Leave a Comment
October 22, 2010 – First Suburban National Bank, Maywood, Illinois, was closed today by the Office of the Comptroller of the Currency (OCC), which appointed the FDIC as receiver. The OCC, in its press release stated that “The OCC acted after finding that the bank had experienced substantial dissipation of assets and earnings due to […]
FDIC Issues Consent Orders & Prompt Corrective Actions To 26 Banks
October 1, 2010 By 1 Comment
October 1, 2010 – The FDIC recently released a list of orders of administrative enforcement actions taken against banks, including 22 “Consent Orders” (formerly called “cease and desist consent orders”) and 4 Prompt Corrective Actions. A cease and desist order (consent order) is issued when the FDIC has “determined that it had reason to believe […]
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 […]
FDIC Problem Bank Increase Puts Over 10% Of Banks At Risk Of Failure
August 31, 2010 By Leave a Comment
August 31, 2010 – The latest FDIC Quarterly Banking Profile shows a 7% increase in the number of Problem Banks to 829 at June 30, 2010, up from 775 at March 31, 2010. The number of problem banks is now at its highest level since March 1993 when there were 928. More than 10% of […]