Bank Failures - 2010

Stuff that’s happening in the world that may pertain to our survival. Please keep political debates off the forum.

Moderator: ZS Global Moderators

Locked
User avatar
raptor
ZS Global Moderator
ZS Global Moderator
Posts: 17060
Joined: Sun Mar 04, 2007 10:18 pm
Location: Greater New Orleans Area

Re: Bank Failures - 2010

Post by raptor » Fri Jun 25, 2010 6:21 pm

Three more banks closed today bringing the total to 86 YTD as of this post. This puts the 2010 trend line at 172 if the current pace stays at this level.

High Desert State Bank, Albuquerque, New Mexico, was closed today by the New Mexico Financial Institutions Division, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First American Bank, Artesia, New Mexico, to assume all of the deposits of High Desert State Bank.

First National Bank, Savannah, Georgia, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with The Savannah Bank, National Association, Savannah, Georgia, to assume all of the deposits of First National Bank.

Peninsula Bank, Englewood, Florida, was closed today by the Florida Division of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, Miami, Florida, to assume all of the deposits of Peninsula Bank.

http://www.fdic.gov/bank/individual/fai ... klist.html" onclick="window.open(this.href);return false;

User avatar
raptor
ZS Global Moderator
ZS Global Moderator
Posts: 17060
Joined: Sun Mar 04, 2007 10:18 pm
Location: Greater New Orleans Area

Re: Bank Failures - 2010

Post by raptor » Fri Jul 02, 2010 9:53 pm

Post edited for duplicate information, with apologies to the forum.

No banks failed Friday. The YTD count remains unchanged.





Source:
http://www.fdic.gov/bank/individual/fai ... klist.html" onclick="window.open(this.href);return false;
Last edited by raptor on Sat Jul 03, 2010 10:01 am, edited 1 time in total.

spacetyrant
* *
Posts: 131
Joined: Mon Oct 29, 2007 2:33 am

Re: Bank Failures - 2010

Post by spacetyrant » Sat Jul 03, 2010 1:04 am

The same 3 banks failed again?

deathstyle
* * *
Posts: 751
Joined: Fri Mar 20, 2009 3:12 am
Location: The Nation of Awesome

Re: Bank Failures - 2010

Post by deathstyle » Sat Jul 03, 2010 5:44 am

:lol: :lol: :lol: :lol: :lol:
Image
"A parent's only as good as their dumbest kid. If one wins a Nobel Prize but the other gets robbed by a hooker, you failed."

User avatar
raptor
ZS Global Moderator
ZS Global Moderator
Posts: 17060
Joined: Sun Mar 04, 2007 10:18 pm
Location: Greater New Orleans Area

Re: Bank Failures - 2010

Post by raptor » Sat Jul 03, 2010 9:59 am

spacetyrant wrote:The same 3 banks failed again?

You are right. That is what I get for posting after a long day. :oops:

User avatar
pyratemime
* * * * *
Posts: 2916
Joined: Sun Mar 25, 2007 1:07 am
Location: College Station, TX
Contact:

Re: Bank Failures - 2010

Post by pyratemime » Sun Jul 04, 2010 8:58 pm

raptor wrote:Post edited for duplicate information, with apologies to the forum.

No banks failed Friday. The YTD count remains unchanged.
Is this the first week this year with no failed banks?
Image

"It wouldn't hurt you people to think like a serial killer every now and again. You know just for the sake of prevention!" - Foamy the Squirrel
DaJoker wrote:In regards to us "normal" humans... well that's why its best to follow pyratemime's advice.

User avatar
phil_in_cs
ZS Member
ZS Member
Posts: 11424
Joined: Fri Dec 28, 2007 4:18 pm
Location: central tx

Re: Bank Failures - 2010

Post by phil_in_cs » Sun Jul 04, 2010 9:09 pm

pyratemime wrote:
raptor wrote:Post edited for duplicate information, with apologies to the forum.

No banks failed Friday. The YTD count remains unchanged.
Is this the first week this year with no failed banks?
I recall one of the holiday shortened weeks, Easter maybe, where there were none closed. I'm too lazy to read back the rest of the thread to see.
Don't confuse a belligerent and aggressive attitude with the strength, training, and conditioning needed to prevail in a fight. How do you know you have the Will To Win, if you don't even have the will to train?

User avatar
raptor
ZS Global Moderator
ZS Global Moderator
Posts: 17060
Joined: Sun Mar 04, 2007 10:18 pm
Location: Greater New Orleans Area

Re: Bank Failures - 2010

Post by raptor » Sun Jul 04, 2010 9:11 pm

pyratemime wrote:
raptor wrote:Post edited for duplicate information, with apologies to the forum.

No banks failed Friday. The YTD count remains unchanged.
Is this the first week this year with no failed banks?
No. On other holiday weekends the FDIC has taken a vacation. April 2 (Good Friday) had no closures. However they made up for it the following Friday.

User avatar
pyratemime
* * * * *
Posts: 2916
Joined: Sun Mar 25, 2007 1:07 am
Location: College Station, TX
Contact:

Re: Bank Failures - 2010

Post by pyratemime » Sun Jul 04, 2010 10:40 pm

Oh joy. We have something to look forward to on this coming Friday.
Image

"It wouldn't hurt you people to think like a serial killer every now and again. You know just for the sake of prevention!" - Foamy the Squirrel
DaJoker wrote:In regards to us "normal" humans... well that's why its best to follow pyratemime's advice.

yale
* * * *
Posts: 957
Joined: Sun Dec 14, 2008 10:50 am
Location: Greater Baton Rouge, Louisiana

Re: Bank Failures - 2010

Post by yale » Fri Jul 09, 2010 11:14 am

I worked last night and I'm trying to stay awake to see this weeks list.
President/Founding member of Louisiana Open Carry Awareness League (LOCAL)
http://www.laopencarry.org/" onclick="window.open(this.href);return false;

User avatar
pyratemime
* * * * *
Posts: 2916
Joined: Sun Mar 25, 2007 1:07 am
Location: College Station, TX
Contact:

Re: Bank Failures - 2010

Post by pyratemime » Fri Jul 09, 2010 4:08 pm

yale wrote:I worked last night and I'm trying to stay awake to see this weeks list.
I couldn't wait so I peeked. I won't ruin the surprise though and will wait for raptor to post the info.
Image

"It wouldn't hurt you people to think like a serial killer every now and again. You know just for the sake of prevention!" - Foamy the Squirrel
DaJoker wrote:In regards to us "normal" humans... well that's why its best to follow pyratemime's advice.

User avatar
Valarius
* * * * *
Posts: 3231
Joined: Thu Jun 03, 2004 12:42 am
Favorite Zombie Movies: Shaun of the Dead and many of Romero's films.
Location: Around Nevada.
Contact:

Re: Bank Failures - 2010

Post by Valarius » Fri Jul 09, 2010 5:57 pm

Alls I wan' for Chris'mas is Wells Fargo to die in a fire. :D
See you around, HK. And remember folks: victory is surviving to watch another sunrise.

My female avatar is Saeko Busujima from High School Of The Dead. I'm a dude. :mrgreen:

Homeless survival techniques.

User avatar
raptor
ZS Global Moderator
ZS Global Moderator
Posts: 17060
Joined: Sun Mar 04, 2007 10:18 pm
Location: Greater New Orleans Area

Re: Bank Failures - 2010

Post by raptor » Fri Jul 09, 2010 9:17 pm

It was not a s bad as I thought it would be after the 4th of July holiday.

4 banks were closed today bringing the YTD total to 90 banks closed. One bank Ideal Federal Banks was simply closed and insured deposits were paid off indicating that it was in particularly bad shape. Two had no rating by thestreet.com and the other two were rated E-


Bay National Bank, Baltimore, Maryland, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bay Bank, FSB, Lutherville, Maryland, to assume all of the deposits of Bay National Bank.

The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of Ideal Federal Savings Bank. The bank was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver.

USA Bank, Port Chester, New York, was closed today by the New York State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with New Century Bank (doing business as Customer's 1st Bank), Phoenixville, Pennsylvania, to assume all of the deposits of USA Bank.

Home National Bank, Blackwell, Oklahoma, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with RCB Bank, Claremore, Oklahoma, to assume all of the deposits of Home National Bank.

Source:
http://www.fdic.gov/bank/individual/fai ... klist.html" onclick="window.open(this.href);return false;

User avatar
grand94jeep
* * * * *
Posts: 5076
Joined: Sat Jul 30, 2005 4:25 pm
Favorite Zombie Movies: All Zombie movies. Even the bad ones
Location: N.C.
Contact:

Re: Bank Failures - 2010

Post by grand94jeep » Sat Jul 10, 2010 12:26 am

Valarius wrote:Alls I wan' for Chris'mas is Wells Fargo to die in a fire. :D
Easy now... that's one of my current banks. :P

:mrgreen:
,=====o00o _
//___l__,\____\,__
l_--- \___l---[]lllllll[]
(o)_)-o- (o)_)--o-)_)


We must reject the idea that every time a law's broken, society is guilty rather than the lawbreaker. It is time to restore the American precept that each individual is accountable for his actions.
~Ronald Reagan~

WhoShotJR
* * * * *
Posts: 1565
Joined: Wed Nov 18, 2009 7:26 pm
Location: OTP Atlanta

Re: Bank Failures - 2010

Post by WhoShotJR » Fri Jul 16, 2010 10:49 pm

I always check this post every Friday, guess raptor is busy. Just a quick summary. Six banks were closed today, current trend line is for 178 banks to be closed this year.

Source:
http://www.fdic.gov/bank/individual/fai ... klist.html" onclick="window.open(this.href);return false;

yale
* * * *
Posts: 957
Joined: Sun Dec 14, 2008 10:50 am
Location: Greater Baton Rouge, Louisiana

Re: Bank Failures - 2010

Post by yale » Sat Jul 17, 2010 3:45 am

WhoShotJR wrote:I always check this post every Friday, guess raptor is busy. Just a quick summary. Six banks were closed today, current trend line is for 178 banks to be closed this year.

Source:
http://www.fdic.gov/bank/individual/fai ... klist.html" onclick="window.open(this.href);return false;
Blocked by Webscense. AAAggggHHHH!!! Must wait for Raptor to post the summary so I can see it. Darn Work computer blocking everything. I hope the shambelers didn't get Raptor.
President/Founding member of Louisiana Open Carry Awareness League (LOCAL)
http://www.laopencarry.org/" onclick="window.open(this.href);return false;

WhoShotJR
* * * * *
Posts: 1565
Joined: Wed Nov 18, 2009 7:26 pm
Location: OTP Atlanta

Re: Bank Failures - 2010

Post by WhoShotJR » Sat Jul 17, 2010 7:24 pm

Per raptor's request: Six banks were closed yesterday, current trend line is for 178 banks to be closed this year. Five of these banks were rated E-, one E by thestreet.com


Mainstreet Savings Bank, FSB, Hastings, Michigan, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Commercial Bank, Alma, Michigan, to assume all of the deposits of Mainstreet Savings Bank, FSB.

Olde Cypress Community Bank, Clewiston, Florida, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with CenterState Bank of Florida, National Association, Winter Haven, Florida, to assume all of the deposits of Olde Cypress Community Bank.

Metro Bank of Dade County, Miami, Florida; Turnberry Bank, Aventura, Florida; and First National Bank of the South, Spartanburg, South Carolina, were closed today by federal and state banking agencies, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for all three institutions. To protect depositors, the FDIC entered into purchase and assumption agreements with NAFH National Bank, Miami, Florida, a newly-chartered bank subsidiary of North American Financial Holdings, Inc., Charlotte, North Carolina, to assume all the deposits and essentially all the assets of the three failed institutions.

Woodlands Bank
, Bluffton, South Carolina, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bank of the Ozarks, Little Rock, Arkansas, to assume all of the deposits of Woodlands Bank.



Source:
http://www.fdic.gov/bank/individual/fai ... klist.html" onclick="window.open(this.href);return false;

yale
* * * *
Posts: 957
Joined: Sun Dec 14, 2008 10:50 am
Location: Greater Baton Rouge, Louisiana

Re: Bank Failures - 2010

Post by yale » Sun Jul 18, 2010 12:07 am

Whoshotjr,
Thanks for posting that. I just got to work and logged in to see the list.
I hope Raptor is well and nothing is wrong.
Now I guess I have to go do what they pay me to do.
President/Founding member of Louisiana Open Carry Awareness League (LOCAL)
http://www.laopencarry.org/" onclick="window.open(this.href);return false;

WhoShotJR
* * * * *
Posts: 1565
Joined: Wed Nov 18, 2009 7:26 pm
Location: OTP Atlanta

Re: Bank Failures - 2010

Post by WhoShotJR » Fri Jul 23, 2010 5:18 pm

Five banks were closed today, yearly total is 101, current trend line is for 181 banks to be closed this year. All five banks were rated E- by thestreet.com.

Community Security Bank, New Prague, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Roundbank, Waseca, Minnesota, to assume all of the deposits of Community Security Bank.

Thunder Bank, Sylvan Grove, Kansas, was closed today by the Kansas Office of the State Bank Commissioner, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with The Bennington State Bank, Salina, Kansas, to assume all of the deposits of Thunder Bank.

Williamsburg First National Bank, Kingstree, South Carolina
, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Citizens Bank and Trust Company, Inc., Columbia, South Carolina, to assume all of the deposits of Williamsburg First National Bank.

Crescent Bank and Trust Company, Jasper, Georgia,
was closed today by the Georgia Department of Banking & Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Renasant Bank, Tupelo, Mississippi, to assume all of the deposits of Crescent Bank and Trust Company.

Sterling Bank, Lantana, Florida
, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with IBERIABANK, Lafayette, Louisiana, to assume all of the deposits of Sterling Bank.


Source:
http://www.fdic.gov/bank/individual/fai ... klist.html" onclick="window.open(this.href);return false;

User avatar
whisk.e.rebellion
ZS Board Member
ZS Board Member
Posts: 8187
Joined: Wed Jan 14, 2009 1:34 pm
Favorite Zombie Movies: 28 Days Later. Dawn of the Dead (both versions). Return of the Living Dead. Shaun of the Dead. Dead Alive.
Location: Monterey Bay, California

Re: Bank Failures - 2010

Post by whisk.e.rebellion » Fri Jul 23, 2010 5:32 pm

Thanks for putting that up, JR.
I survived Zombie Con 2011: Full Spectrum Pain
I survived Zombie Con 2012: Our word is "douchebag"
I survived Zombie Con 2014: <Insert inappropriate website here>

User avatar
Valarius
* * * * *
Posts: 3231
Joined: Thu Jun 03, 2004 12:42 am
Favorite Zombie Movies: Shaun of the Dead and many of Romero's films.
Location: Around Nevada.
Contact:

Re: Bank Failures - 2010

Post by Valarius » Fri Jul 23, 2010 7:16 pm

Ditto on putting that up, sir. Didn't Raptor estimate at least 170 banks closed this year?
See you around, HK. And remember folks: victory is surviving to watch another sunrise.

My female avatar is Saeko Busujima from High School Of The Dead. I'm a dude. :mrgreen:

Homeless survival techniques.

WhoShotJR
* * * * *
Posts: 1565
Joined: Wed Nov 18, 2009 7:26 pm
Location: OTP Atlanta

Re: Bank Failures - 2010

Post by WhoShotJR » Fri Jul 23, 2010 7:53 pm

Valarius wrote:Ditto on putting that up, sir. Didn't Raptor estimate at least 170 banks closed this year?

He may have changed after, but on page one of this thread
For the record in the Banking Crisis II thread I predicted:
raptor wrote: With all of the above in mind I am going to predict that the maximum number of banks closed in 2010 will not exceed 2009's level of 140 but that a minimum number of banks closed will not be less than 60 banks. I think a more probable range is between 80 and 110 closures (excluding mergers).
Or are you talking about the trend lines?

WhoShotJR
* * * * *
Posts: 1565
Joined: Wed Nov 18, 2009 7:26 pm
Location: OTP Atlanta

Re: Bank Failures - 2010

Post by WhoShotJR » Fri Jul 23, 2010 8:25 pm

FDIC boys must be working late tonight. Two more to add for today, for 103 total, trend line up to 185. FDIC will have to shell out just over $431M for today's closings. Both banks also rated E-.

SouthwestUSA Bank, Las Vegas, Nevada, was closed today by the Nevada Financial Institutions Division, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Plaza Bank, Irvine, California, to assume all of the deposits of SouthwestUSA Bank.

Home Valley Bank, Cave Junction, Oregon
, was closed today by the Oregon Department of Consumer and Business Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with South Valley Bank & Trust, Klamath Falls, Oregon, to assume all of the deposits of Home Valley Bank.

Interesting article, although it's missing that latest bank added to the list. EDIT: 7TH BANK ADDED TO ARTICLE

http://finance.yahoo.com/news/US-bank-f ... 9.html?x=0

WhoShotJR
* * * * *
Posts: 1565
Joined: Wed Nov 18, 2009 7:26 pm
Location: OTP Atlanta

Re: Bank Failures - 2010

Post by WhoShotJR » Fri Jul 30, 2010 6:46 pm

Five banks were closed today, yearly total is 108, current trend line is for 187 banks to be closed this year. All five banks were rated E- by thestreet.com.


Bayside Savings Bank, Port Saint Joe, Florida
and Coastal Community Bank, Panama City Beach, Florida, were closed today by federal and state banking agencies, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for both institutions. To protect depositors, the FDIC entered into purchase and assumption agreements with Centennial Bank, Conway, Arkansas, to assume all the deposits and essentially all the assets of the two failed institutions.

NorthWest Bank and Trust, Acworth, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with State Bank and Trust Company, Macon, Georgia, to assume all of the deposits of NorthWest Bank and Trust.


LibertyBank, Eugene, Oregon, was closed today by the Oregon Division of Finance and Corporate Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Home Federal Bank, Nampa, Idaho, to assume all of the deposits of LibertyBank.

The Cowlitz Bank, Longview, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Heritage Bank, Olympia, Washington, to assume all of the deposits of The Cowlitz Bank.

Source:
http://www.fdic.gov/bank/individual/fai ... klist.html" onclick="window.open(this.href);return false;

The failure of NorthWest Bank and Trust is expected to cost the deposit insurance fund $39.8 million. Estimated costs for the others are: Bayside Savings Bank, $16.2 million; Coastal Community Bank, $94.5 million; Cowlitz Bank, $68.9 million; and LibertyBank, $115.3 million.
With 108 closures nationwide so far this year, the pace of bank failures far outstrips that of 2009, which was already a brisk year for shutdowns. By this time last year, regulators had closed 69 banks.

The pace has accelerated as banks' losses mount on loans made for commercial property and development. Many companies have shut down in the recession, vacating shopping malls and office buildings financed by the loans. That has brought delinquent loan payments and defaults by commercial developers.

The number of bank failures is expected to peak this year and be slightly higher than the 140 that fell in 2009. That was the highest annual tally since 1992, at the height of the savings and loan crisis. The 2009 failures cost the insurance fund more than $30 billion. Twenty-five banks failed in 2008, the year the financial crisis struck with force; only three succumbed in 2007.

The growing bank failures have sapped billions of dollars out of the deposit insurance fund. It fell into the red last year, and its deficit stood at $20.7 billion as of March 31
Depositors' money -- insured up to $250,000 per account -- is not at risk, with the FDIC backed by the government. That insurance cap was made permanent in the financial overhaul legislation recently signed into law by President Barack Obama.
emphasis mine
http://finance.yahoo.com/news/Regulator ... et=&ccode=


This post was edited to add two additional banks and to change quotes from the article to reflect these additions.
Last edited by WhoShotJR on Sat Jul 31, 2010 12:15 am, edited 3 times in total.

Locked

Return to “Disasters in Current Events”