State regulators shuttered a small Ohio bank which became the eighth banking failure of the year. The Ohio Division of Financial Institutions closed Columbia Savings Bank, Cincinnati, Ohio, and appointed the FDIC as receiver. To protect depositors the FDIC sold the failed bank to United Fidelity Bank, fsb, Evansville, Indiana, which assumed all deposits. Although […]
Columbia Savings Bank, Ohio, Eighth Bank Failure of 2014 – Hundreds of Zombie Banks Remain Open for Business
May 24, 2014 By Leave a Comment
2012 Bank Failures Lowest Since 2008 As Regulators Close 51 Banks
December 31, 2012 By Leave a Comment
During the past five years we have witnessed the greatest financial turmoil since the Great Depression. Hundreds of giant bank failures rocked the nation, real estate values crashed, trillions of dollars of wealth vanished overnight and millions of Americans lost their jobs. Although a relative calm has been restored due to unprecedented actions by both […]
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 […]
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 […]
FDIC Issues 53 Enforcement Actions, Number of Problem Banks Remains Elevated
March 30, 2012 By 1 Comment
The FDIC released the list of enforcement actions taken in February 2012 against 53 banks. In the previous month of January, the FDIC had issued 42 enforcement actions. The orders issued by the FDIC included 10 civil money penalties, 1 prompt corrective action, 13 consent orders, 1 order terminating deposit insurance and 19 orders terminating […]
BankUnited Biggest Failed Bank Of 2009 With Massive Asset Losses
May 21, 2009 By Leave a Comment
Largest Banking Failure of 2009 The failure of BankUnited, FSB is the largest banking collapse of 2009 and marks the 34th FDIC insured bank to be added to the Failed Bank List. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $4.9 billion, leaving the DIF with a balance of […]
Failed Banks For May 21, 2009
May 21, 2009 By Leave a Comment
Failed Banks: BankUnited, FSB There was one more failed bank this week on May 21 – BankUnited, FSB, Coral Gables, FL. 2009 has now seen a total of 9 more failed banks than occurred for all of 2008. The FDIC closure of BankUnited brings total banking failures for 2009 to 34 banks. The FDIC estimates […]
Failed Banks For May 8, 2009
May 8, 2009 By Leave a Comment
Failed Banks: Westsound Bank There was one more failed bank this week on May 8 – Westsound Bank, Bremerton, Washington. 2009 has now seen 8 more failed banks than occurred for all of 2008. The FDIC closure of Westsound Bank brings total banking failures for 2009 to 33 banks. The FDIC estimates that the closure […]
Failed Banks for May 1, 2009
May 5, 2009 By Leave a Comment
Failed Banks: America West Bank, Citizens Community Bank, Silverton Bank There were 3 more failed banks on May 1st – America West Bank, Citizens Community Bank and Silverton Bank. 2009 has now seen 7 more failed banks than occurred for all of 2008. The FDIC closure of 3 more banks on May 1st brings total […]