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 […]
Palos Bank and Trust Company Of Illinois Closed By Regulators
August 13, 2010 By Leave a Comment
August 13, 2010 – Palos Bank and Trust Company, Palos Heights, Illinois was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the FDIC as receiver. The FDIC entered into a purchase and assumption agreement with First Midwest Bank, Itasca, Illinois to assume all deposits and purchase essentially all assets of […]
Bank Depositors May Need To Take “Prompt and Corrective Action” – Is Your Bank On This List?
June 25, 2010 By Leave a Comment
The Federal Deposit Insurance Corporation, the federal agency in charge of safeguarding the nation’s bank deposits, maintains a confidential Problem Bank List. This list contains the names of institutions that have weak capital positions caused by large loan losses or operational deficiencies that usually lead to failure. The FDIC does not publicize the list for […]
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 […]
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 […]
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 […]
Is It Safe?
September 8, 2009 By 3 Comments
Should you keep your money in an FDIC insured problem bank? Or are you asking for trouble? As of the latest report released by the FDIC there were 416 problem banks at June 30, 2009, up from 117 the previous year and up from 305 on March 31, 2009. Total assets held by the […]