The banking industry, which was on the verge of collapse in 2008, is showing tenuous signs of recovery. The FDIC Quarterly Banking Profile for the quarter ending June 30, 2012, showed an increase in both bank profits and lending volume as well as a small decline in the number of problem banks. Almost 63% of […]
Doubts Remain Over Banking Industry “Recovery” – FDIC Quarterly Banking Profile
August 29, 2012 By 1 Comment
Banks Desperate For Funds Victimized By Con Men
July 28, 2012 By 1 Comment
This post should trigger a snicker from many consumers who feel that they are victims of the banking industry. In a new twist, banks themselves are now at the top of the list for many con men One would think that with the increased regulatory scrutiny of the banking industry, banks would be last on […]
FDIC Issues 48 Enforcement Actions In June
July 27, 2012 By Leave a Comment
The FDIC announced in a press release today a total of 48 enforcement actions taken against banks and individuals in June 2012. In May, the FDIC issued 56 enforcement actions. Enforcement actions issued in June included three consent orders, two prompt corrective actions, nine removal and prohibition orders, twelve civil money penalties, five modifications of […]
Five Bank Failures Bring Year’s Total To 38 – FDIC Losses Top $1.9 Billion
July 21, 2012 By Leave a Comment
Regulators had a busy week closing five banks in four different states on Friday. Although bank failures have been proceeding at a slower pace than last year, the total losses to the FDIC Deposit Insurance Fund now top $1.9 billion and the number of problem banks remains very high considering that we are four years […]
FDIC Issues 53 Enforcement Actions In May
June 29, 2012 By 1 Comment
The FDIC announced today a total of 53 enforcement actions for May 2012. In the previous month, the FDIC had issued 56 enforcements actions. Enforcements actions issued in May included 9 consent orders, 10 civil money penalties, 8 section 19 orders, 13 orders terminating previous consent and cease and desist orders, 2 orders terminating prompt […]
Putnam State Bank, Palatka, FL, Closed By Regulators
June 15, 2012 By Leave a Comment
Putnam State Bank, Palatka, FL, established in December 1988, was closed today by the Florida Office of Financial Regulation. The FDIC, appointed as receiver for the failed bank, was able to sell Putnam State Bank to Harbor Community Bank, Indiantown, FL. During the height of the real estate mania and lending boom, few states saw […]
Four Banks Collapse In Four States – 2012 Bank Failures Total 28
June 9, 2012 By Leave a Comment
After only two bank failures during May, regulators got off to a fast start in June, closing four banks in four different states. With the financial system in a period of temporary calm, the number of bank closings during 2012 has tapered off from last year’s levels. While regulators have closed 28 banks thus far […]
One Out Of Every Ten Banks Is A “Problem Bank” – FDIC Issues 56 Enforcement Actions In April 2012
May 25, 2012 By Leave a Comment
The FDIC announced in a press release that 56 enforcement actions were taken against banks and individuals during April 2012. In the previous month, the FDIC had issued 72 enforcement actions. The FDIC enforcement actions issued in April included 14 civil money penalties, 1 prompt corrective action, 13 consent orders, 19 orders terminating previous consent […]
Higher Bank Profits Driven By Lower Loan Loss Provisions – Core Lending Business Declines
May 25, 2012 By 1 Comment
The earnings “recovery” in the banking industry continues to be driven by reduced loan loss provisions and higher fees rather than a fundamental improvement in the core lending business. The FDIC’s Quarterly Banking Profile for the first quarter of 2012 reports that aggregate quarterly profits of commercial banks and savings institutions increased for the 11th […]
Bank of the Eastern Shore, Cambridge, MD, Fails – Uninsured Depositors Out Of Luck As FDIC Fails To Find Buyer
April 27, 2012 By Leave a Comment
Maryland state regulators closed the Bank of the Eastern Shore, Cambridge, MD and the FDIC was appointed as receiver. As has happened on previous occasions, the FDIC was unable to find a buyer for the failed bank, leaving uninsured depositors at risk of loss on their savings. To protect insured depositors and wind down the […]