Regulators closed two small banks in Nevada and Illinois bringing the total number of banking failures for 2011 to 28. During 2010, there were a total of 157 banking failures, the most since 1992 when 181 banks failed. A total of 140 banking failures occurred during 2009 and 25 in 2008. Although the pace of […]
Charter Oak Bank of California Becomes Nation’s 21st Banking Failure
February 19, 2011 By Leave a Comment
California saw its third banking failure this year as regulators closed a small bank that had been overwhelmed by loan losses. Charter Oak Bank of Napa, California, was closed today by the California Department of Financial Institutions, which appointed the FDIC as receiver. The FDIC sold the failed bank to Bank of Marin, Novato, California, […]
Habersham Bank Fails In Georgia
February 18, 2011 By Leave a Comment
Habersham Bank of Clarkesville, Georgia, was closed today by the Georgia Department of Banking and Finance. The FDIC, as receiver, sold the failed bank to SCBT National Association, Orangeburg, South Carolina. SCBT will assume all the deposits of Habersham Bank. Habersham Bank has a very long history dating back to 1904 when the bank was […]
The First State Bank, Camargo, OK, Closed By Regulators
January 28, 2011 By Leave a Comment
January 28, 2011 – The First State Bank, Camargo, OK, was closed today by the Oklahoma State Banking Department which appointed the FDIC as receiver. To protect depositors, the FDIC sold First State to Bank 7, Oklahoma, City, OK. Bank 7 will assume all deposits and also agreed to purchase all of the assets of […]
United Western Bank, Colorado, Closed By Regulators
January 22, 2011 By Leave a Comment
January 21, 2010 – United Western Bank, Denver, Colorado, was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver. The FDIC entered into a purchase and assumption agreement with First-Citizens Bank & Trust Company, Raleigh, North Carolina, to assume all deposits of the failed bank. United Western had 8 branches […]
Failed Bank of Asheville, NC, Sold By FDIC To Bank Owing TARP Money
January 22, 2011 By 1 Comment
January 21, 2011 – The Bank of Asheville, Asheville, NC,was closed today by the North Carolina Office of Commissioner of Banks, which named the FDIC as receiver. The FDIC sold the failed bank to First Bank, Troy, North Carolina, which assumed all deposits. The Bank of Asheville had five branches which will all reopen on […]