Regulators closed two banks today, bringing the total number of banking failures for the year to 63. The FDIC classifies 888 banks as “Problem Banks”, a number which has risen nonstop since 2006. The number of troubled banks comprise almost 12% of all federally insured institutions. With many analysts forecasting another recession, a further increase […]
Feds Close Two Banks In Washington and Illinois – Depositor’s Concerns Grow
August 5, 2011 By Leave a Comment
3 Failed Banks In Colorado and Illinois Cost FDIC $632 Million
July 8, 2011 By Leave a Comment
After taking off a week from bank closings due to the fourth of July holiday weekend, regulators came back to work, closing two banks in Colorado and one in Illinois. The largest banking failure of the week was the failure of First Chicago Bank & Trust with almost $1 billion in assets. The FDIC loss […]
Banking Industry Problems Persist As Revenues Decline – Quarterly Banking Profile
May 24, 2011 By 1 Comment
Confirmation of weakness in the banking industry came today with the release of the March 31, 2011 FDIC Quarterly Banking Profile (QBP). Most investors in banking stocks, with some exceptions, know that the performance of their bank stock investments has tracked the weak state of the economy and banking industry. The widely followed KBW Bank […]
FDIC Quarterly Banking Profile Shows Increase In Problem Banks
May 24, 2011 By 1 Comment
The latest FDIC Quarterly Banking Profile (QBP) shows another increase in the number of problem banks. The mortgage and debt crisis that began in 2007, along with continued weakness in the economy has resulted in a huge increase in the number of problem banks. In 2007, the FDIC had a total of 76 institutions on […]
CertusBank Acquires Failed Atlantic Southern Bank And First Georgia Banking
May 21, 2011 By 1 Comment
Atlantic Southern Bank of Macon, Georgia, and First Georgia Banking Company of Franklin, Georgia were both closed today by the Georgia Department of Banking and Finance. The FDIC, acting as receiver, sold both failed banks to CertusBank, which is a subsidiary of Blue Ridge Holdings, a Charlotte based investment group. Blue Ridge Holdings was founded […]
Regulators Close Five Banks – Total Losses To FDIC Top $3 Billion
April 30, 2011 By Leave a Comment
Last week had no bank closings due to the holiday weekend. Regulators returned to work today, closing five insolvent banks in Florida, Georgia and Michigan. A total of 39 banks have now failed during 2011. Although the banking industry has recovered from the dark days of the financial crisis due to unprecedented government aid, the […]
2010 Banking Failures By State – Why 2011 Should Look The Same
March 26, 2011 By Leave a Comment
The most severe financial crisis since the 1930’s resulted in a nationwide drop in real estate values and the largest number of banking failures since 1992. The huge buildup of debt that fueled the bubble in real estate prices has resulted in a record number of mortgage defaults and foreclosures. During 2010, a total of […]
Problem Banks Skyrocket To 18 Year High
February 23, 2011 By 1 Comment
The FDIC cannot close banks fast enough. The latest Quarterly Banking Profile shows an increase in the number of problem banks to 884 at December 31, 2010 up from 860 at the end of September 2010. The number of Problem Banks now totals 12% of all FDIC insured institutions. For the quarter ending December 31, […]
Four Banks Fail In Georgia and California
February 19, 2011 By 1 Comment
Four banking failures in Georgia and California have increased total banking failures for 2011 to 22. Small and mid sized banks continue to face the most difficulty as they find it impossible to raise additional capital required by regulators. During 2010 a total of 157 banking failures occurred, the most since 1992 when 181 banks […]
Four Bank Failures In Four States Increase Total Failures To 18
February 12, 2011 By Leave a Comment
Four banking failures in four different states have increased total banking failures for 2011 to 18. Small and mid sized banks continue to face the most difficulty as they find it impossible to raise additional capital required by regulators. During 2010 a total of 157 banking failures occurred, the most since 1992 when 181 banks […]