The Premier Community Bank of the Emerald Coast, Crestview, Florida, was closed today by state regulators and the FDIC was named as receiver. The FDIC sold the failed bank to Summit Bank, N.A., Panama City. All deposits of failed Premier Community Bank were assumed by Summit Bank and depositors will have immediate access to their […]
Premier Community Bank of the Emerald Coast Closed By Regulators
December 16, 2011 By Leave a Comment
2011 Bank Failures Decline For First Time In Three Years
December 14, 2011 By Leave a Comment
For the first time in three years, the number of U.S. banking failures should total less than 100. Total bank closings for 2011 currently total 90. The FDIC has been giving their closing teams some time off, with the last bank closing occurring on November 18, 2011. Bank closings usually occur on Friday and unless […]
FDIC Issues 56 Enforcement Actions In September
November 4, 2011 By Leave a Comment
A total of 56 administrative enforcement actions were taken by the FDIC against problem banks in September, up from 53 in August. The most serious September enforcement actions taken by the FDIC included 10 consent orders, 3 prompt corrective actions and 16 civil money penalties. Please see the complete list of enforcement actions taken below. […]
All American Bank, Des Plaines, IL, Closed By Regulators
October 28, 2011 By 1 Comment
All American Bank, Des Plaines, Illinois, was closed by the State of Illinois, which appointed the FDIC as receiver. The FDIC sold the failed bank to International Bank of Chicago. Under a purchase and assumption agreement, International Bank will assume all deposits and purchase all assets of failed All American Bank. All American Bank, established […]
Four Banks Closed In Georgia, Florida and Colorado – Losses Now Total $7 Billion
October 21, 2011 By Leave a Comment
The continued decline in real estate values and aggressive lending during the real estate boom continue to haunt the banking industry. Regulators closed four banks in three states this week bringing the total banking failures for the year to 84. Two banks were closed in Georgia which now accounts for 26% of all U.S. banking […]
Community Banks of Colorado Closed By Regulators
October 21, 2011 By Leave a Comment
Community Banks of Colorado, Greenwood Village, CO, was closed by the Board of Governors of the Federal Reserve System. The FDIC, appointed as receiver, sold the failed bank to Bank Midwest, N.A., Kansas City, Missouri. Bank Midwest will assume all deposits and purchase all assets of failed Community Banks. All 40 branches of failed Community […]
Community Capital Bank, Jonesboro, GA, Closed By Regulators
October 21, 2011 By Leave a Comment
State regulators closed Community Capital Bank of Jonesboro, GA, today and appointed the FDIC as receiver. The FDIC sold the failed bank to State Bank and Trust Company, Macon, GA, which will assume all deposits and purchase all assets of Community Capital Bank. Community Capital Bank began operations in August 2002. The Bank was owned […]
Decatur First Bank of Georgia Becomes 21st Banking Failure In Georgia
October 21, 2011 By Leave a Comment
Decatur First Bank, Decatur, Georgia, became the 21st bank to fail in Georgia this year. Georgia leads the nation in banking failures, accounting for 26% of all failed banks during 2011. A second Georgia bank, Community Capital Bank of Jonesboro, was also closed by regulators today. Georgia accounts for 22 of the nation’s 84 banking […]
Old Harbor Bank, Clearwater, FL, Closed By Regulators
October 21, 2011 By Leave a Comment
Old Harbor Bank of Clearwater, Florida, an eight year old community bank, was closed today by the Florida Office of Financial Regulation. The FDIC, appointed as receiver, sold the failed bank to 1st United Bank, Boca Raton, Florida. All seven branches of Old Harbor Bank will reopen on Saturday as branches of 1st United. Depositors […]
Four Bank Failures In Four States Brings Year’s Total To 80
October 14, 2011 By Leave a Comment
Regulators across the nation had a busy Friday evening, closing four banks in four different states. This week’s banking failures increase the total number of failed banks for 2011 to 80. During 2010, regulators closed a total of 157 banks across the nation. The FDIC is optimistically predicting a much lower number of banking failures […]