FDIC Cease and Desist Orders The FDIC made public today a list of 20 banking institutions that were recently issued cease and desist orders from the FDIC, as follows: FINAL ORDERS ISSUED PURSUANT TO SECTION 8(b), 12 U.S.C. § 1818(b) (Cease-and-Desist) First State Bank, Flagstaff, AZ; FDIC-09-171b; Issued 5/1/09 Golden Security Bank, Rosemead, CA; FDIC-09-108b; […]
FDIC Issues Cease And Desist Orders To 20 Problem Banks – Why Are These Banks Still Open?
June 26, 2009 By 1 Comment
Smaller Banks Seek TARP Funds To Avoid Banking Failure
June 26, 2009 By Leave a Comment
Small Banks Line Up For TARP Money – No End In Sight The banking crisis may or may not be over for the nation’s largest banking institutions, but many smaller banks, desperate for capital are lining up for TARP funds. As the recession continues and asset values backing loans continue to erode, smaller banks are […]
5 Failed Banks For June 26, 2009- Quarter Billion Dollar FDIC Loss
June 26, 2009 By Leave a Comment
Failed Banks: Community Bank of West Georgia, Neighborhood Community Bank, Horizon Bank, Metro Pacific Bank and Mirae Bank There were five more failed banks this week on June 26, 2009 as detailed below: Community Bank of West Georgia, Villa Rica, Georgia Neighborhood Community Bank, Newnan, Georgia Horizon Bank, Pine City, Minnesota MetroPacific Bank, Irvine, California […]
More Georgia Banking Failures – Depositors Face Losses Of $1.1 Million
June 26, 2009 By Leave a Comment
Failed Banks: Community Bank of West Georgia and Neighborhood Community Bank, 6/26/2009 Georgia continues to live up to its name as the Failed Bank Capital of the US with two more banking closures today of Community Bank of West Georgia, Villa Rica, GA and Neighborhood Community Bank, Newnan, Georgia. For all of 2009 to date, […]
Banks With The Most Troubled Loans – How Many Are On The Problem Bank List?
June 24, 2009 By Leave a Comment
Many More Banking Failures Likely The FDIC will not reveal what banks are on their Problem Bank List but MSNBC has come up with a list of 294 banks that have very high troubled asset ratios of 90% or higher. It’s probably a good bet that many of the institutions on the MSNBC list are […]
Problem Banks Took “Risks They Did Not Understand”
June 24, 2009 By Leave a Comment
In a recent interview with Forbes, FDIC Chairman Sheila Bair readily acknowledged that the primary reason for banking losses and failures was due to banks taking on excessive risk in their loan portfolios. Chairman Bair also discussed her ideas on regulatory changes that will prevent a future banking crisis, the health of the FDIC insurance […]
How Many Times Can A Failed Bank Be Rescued?
June 23, 2009 By Leave a Comment
TARP Funds Fail To Save Some Banks Most of the headline news on the banking industry centers on the largest banks paying back TARP funds previously received from the US Government. Less focus is being given to the numerous smaller banks in the country that received TARP money but apparently need additional bailout funds as […]
Failed Banks For June 19, 2009 – FDIC Losses Total $363 Million
June 20, 2009 By Leave a Comment
Failed Banks: Southern Community Bank, Cooperative Bank and First National Bank There were three more failed banks this week on June 19 – Southern Community Bank, Fayetteville, Georgia and Cooperative Bank, Wilmington, North Carolina and First National Bank of Anthony, Anthony, Kansas. 2009 has now seen a total of 15 more failed banks than occurred […]
Beware The Deceptively High CD Rate Offers
June 19, 2009 By Leave a Comment
FDIC Warns On Deceptive CD Rate Offers Due to the very low interest rate policies of the Federal Reserve, savers have been hammered into oblivion. Short term treasury securities with a one year maturity offer rates barely above zero. Banks are offering longer term CD rates that approach only a tiny 2% yield. Under such […]
FDIC Loan Guarantees To Banks Soars 54% – Is The TLGP Saving Problem Banks?
June 17, 2009 By Leave a Comment
FDIC Debt Guarantees Soar 54% From Year End 2008 The FDIC Temporary Loan Guarantee Program (TLGP) was instituted late last year. The program’s stated purpose and goals, according to the FDIC, is as follows: The FDIC has created this program to strengthen confidence and encourage liquidity in the banking system by guaranteeing newly issued senior […]