Who says the mortgage crisis is over? Regulators revealed today that the nation’s banks and thrifts have an alarming delinquency rate of almost 20% on their $2.6 trillion mortgage portfolio. The Office of the Comptroller of the Currency and the Office of Thrift Supervision jointly released the 2011 first quarter Mortgage Performance Report. The Report […]
Regulators Say Banks Have 20% Delinquency Rate On $2.6 Trillion Mortgage Portfolio
June 30, 2011 By 1 Comment
FDIC Issues 57 Enforcement Actions Against Problem Banks In May
June 25, 2011 By 1 Comment
The FDIC issued 57 enforcement actions in May against various banks and individuals, down from 76 in April. Among the enforcement actions issued were 10 consent orders, 11 civil money penalties, 1 prompt corrective action and 13 orders terminating consent orders. As explained in previous posts, various enforcement actions are taken depending on the severity […]
FDIC Issues 76 Enforcement Actions In April Against Problem Banks
May 28, 2011 By Leave a Comment
The FDIC issued 76 enforcements actions in April against individuals and problem banks, down slightly from 87 in March. Included in the enforcement actions were 8 removal and prohibition orders, 4 prompt corrective actions, 21 consent orders, 21 civil money penalties, 1 modification order and 20 orders terminating consent orders or prompt correction directives and […]
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 […]
FDIC Issues 87 Enforcement Actions Against Banks
May 4, 2011 By Leave a Comment
The FDIC issued 87 enforcement actions against problem banks and individuals in March, up from 60 in February. The administrative enforcement actions processed included 22 consent orders, 15 civil money penalties and 6 prompt corrective actions. Regulatory enforcement actions are issued to address serious deficiencies or when regulators have doubts about an institution’s ability to […]
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 […]
Big Banks Profit As Smaller Banks Join Problem Bank List
February 23, 2011 By Leave a Comment
According to the latest FDIC Quarterly Banking Profile (QBF), the industry recorded profits of $87.5 billion for 2010 compared to a full-year loss of $10.6 billion in 2009. While highlighting a general improvement, the QBF shows that the banking industry still faces major challenges. Revenue growth remains weak, loan balances declined for the ninth time […]
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, […]