Vantage Point Bank, Horsham, PA, Becomes Fifth Banking Failure of 2014

Vantage Point Bank, Horsham, PA, became the fifth banking failure of 2014 as regulators swooped in to close the insolvent bank.  Established in December 2007 as real estate values were already collapsing this small community bank quickly ran into financial difficulties with bad loans, declining revenues, troubles with their home mortgage financing programs, and the […]

Regulators Close Four Banks In Four States Bringing Total Bank Failures To 68

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 […]

First Choice Bank of Geneva, IL, Closed By Regulators

First Choice Bank, Geneva, Illinois, was closed by State regulators who appointed the FDIC as receiver.  The FDIC sold the failed bank to Inland Bank & Trust, Oak Brook, IL, which will assume all the deposits of the failed bank. First Choice Bank, a community bank with $141 million in assets was founded at the […]