Columbia Savings Bank, Ohio, Eighth Bank Failure of 2014 – Hundreds of Zombie Banks Remain Open for Business

State regulators shuttered a small Ohio bank which became the eighth banking failure of the year.  The Ohio Division of Financial Institutions closed Columbia Savings Bank, Cincinnati, Ohio, and appointed the FDIC as receiver. To protect depositors the FDIC sold the failed bank to United Fidelity Bank, fsb, Evansville, Indiana, which assumed all deposits. Although […]

Problem Bank List At 20 Year High As Regulators Let Zombie Banks Remain Open

The number of banks on the confidential FDIC Problem Bank List is at a 20 year high.  As of September 30, 2011, there were 844 institutions on the Problem Bank List, the largest number since 1992 when the total was 1,066. Since the beginning of the financial crisis in 2008, a total of 417 banks […]