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 […]
Four Banks Closed In Georgia, Florida and Colorado – Losses Now Total $7 Billion
October 21, 2011 By Leave a Comment
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 […]
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 […]
FDIC Figures Out That Criminals Were Running Failed United Commercial Bank
October 12, 2011 By Leave a Comment
United Commercial Bank, San Francisco, CA, which was closed by regulators on November 6, 2009, was the fourth largest banking failure of 2009 and resulted in losses to the FDIC Deposit Insurance Fund of $2.5 billion. Almost two years later, the FDIC announced that it was seeking to prohibit ten former officers of the bank […]
FDIC Forecasts $19 Billion In Losses On Banking Failures – Why The Losses Will Be Five Times Larger
October 11, 2011 By 4 Comments
The FDIC today released an update on expected losses for banking failures through 2015. For the five year period 2011 through 2015 the FDIC is forecasting total losses from banking failures of $19 billion. Total losses from banking failures during 2010 were $23 billion compared to $6.4 billion in 2011 year to date losses. A […]
Who Will Rescue Collapsing European Banks When Banks Are Bigger Than Countries?
October 6, 2011 By Leave a Comment
The European banking crisis continues to spiral out of control while hapless politicians fail to put together a credible resolution plan. Part of the problem may be that it is difficult to construct a solution when failing banks are bigger than the countries that are trying to rescue them. The latest European bank on the […]
European Banking Crisis Spins Out Of Control – Officials Have No Solutions
September 12, 2011 By 1 Comment
The European banking crisis intensified as the threat of debt default contagion spread across Europe. What was once a “Greek” problem has quickly overwhelmed all of Europe, resulting in a broad sell of equities and frozen credit markets. Bloomberg reports that European banks are now being valued at levels last seen during the worst of […]
The First National Bank of Florida Acquired By CharterBank of Georgia
September 9, 2011 By Leave a Comment
September 9, 2011 – The First National Bank of Florida, Milton, Florida, became the nation’s 71st banking failure. The Bank was closed by the Office of the Comptroller of the Currency, which appointed the FDIC as receiver. Founded in 1984, The First National Bank of Florida was an 8 branch, independent community bank which served […]
FDIC Reports Decline In Problem Banks But Banking Industry Remains In Intensive Care
August 23, 2011 By Leave a Comment
The latest FDIC Quarterly Banking Profile shows a negligible decline in problem banks but the banking industry remains in intensive care. The banking industry reported a $28.8 billion profit for the second quarter which was $7.9 billion higher than last year’s quarter ending June 30, 2010. The bulk of the profit improvement, however, came from […]
Regulators Close Four Banks In Four States Bringing Total Bank Failures To 68
August 19, 2011 By Leave a Comment
Regulators closed four banks in four different states this week. As has been typical for 2011, three of the failed banks were small or mid sized with total assets under $250. The largest bank failure of the week was Lydian Private Bank of Florida with $1.7 billion in assets, which became the fifth largest banking […]