2010 Bank Failures

Big night. SIX bank failures on the FDIC website to report tonight:

[FONT=arial, helvetica, sans-serif]Bank Closing Information - December 17, 2010
These links contain useful information for the customers and vendors of these closed banks.

Community National Bank, Lino Lakes, MN
First Southern Bank, Batesville, AR
United Americas Bank, National Association, Atlanta, GA
Appalachian Community Bank, F.S.B., McCaysville, GA
Chestatee State Bank, Dawsonville, GA
The Bank of Miami, National Association, Miami, FL
Click to expand...


Merry Christmas.
[/FONT]
 
tsptalk said:
If am reading that site correctly, it looks like there were in the neighborhood of 133 bank closings in 2010? Not good, but I remember them talking about 1000+ being projected.
Click to expand...
Yep- we're at 138 so far this year.

See http://finance.yahoo.com/news/Regul...tml?x=0&sec=topStories&pos=main&asset=&ccode=

Actually, I think the number would be far higher, but they are actually closing them as fast as they can handle. Six in a week is on the high side of late history. In most weeks they've been running four or five lately.

Here is a list of troubled banks that MAY go under because of weakness- the ones in blank have already gone under, and the red ones are in grave danger of doing so.

http://bankimplode.com/list/troubledbanks.htm

Now, that list is old- six moths old now, and shows 700+ in trouble, and more than 35 having already failed in March, when that list was last updated. Another 100 on that list have since gone under.

Not pretty.
 
If am reading that site correctly, it looks like there were in the neighborhood of 133 bank closings in 2010? Not good, but I remember them talking about 1000+ being projected.
 
Big day today-

Six more bank failures today listed on the http://www.FDIC.GOV website.
===============================================

Bank Closing Information - October 22, 2010
These links contain useful information for the customers and vendors of these closed banks.

Hillcrest Bank, Overland Park, KS
First Suburban National Bank, Maywood, IL
The First National Bank of Barnesville, Barnesville, GA
The Gordon Bank, Gordon, GA
Progress Bank of Florida, Tampa, FL
First Bank of Jacksonville, Jacksonville, FL
 
question what happen if u have a mortgage thru that bank and it failed? lol who do u owe the money to?
 
One today on the FDIC closing list:

--------------------------------------------
Bank Closing Information - September 10, 2010
These links contain useful information for the customers and vendors of these closed banks.

Horizon Bank, Bradenton, FL
 
http://steadfastfinances.com/blog/2010/09/07/tarp-18x-the-unknown-bailout-that-requires-a-supreme-court-ruling-for-full-disclosure/
The unofficial, under the table, estimates provided by Bloomberg News suggest the true cost of the Wall Street Bailout is more like 12.8 Trillion Dollars, or just 5.5% of the original TARP bailout plan.

This is 'very good news' for everyone, because we're no longer in the dark.
$12.8 Trillion Dollars finally allows us to get a realistic assessment of how much these hugely powerful Banks cost us loyal hard working tax payers.
Bloomberg is 'sueing' the Banks to disclose the details - but don't lose any sleep over it. The BANKS refuse to even consider saying anything.

12.8 Trillion - is probably more heart beats than all mankind has globally had in the past 50 years. And that's just part of the recent recession and doesn't take into account the wars and longstanding national debt.
Speaking of which National Debt is 93% of GDP. (not part of the link above) Apparently if (and when) it ever hits 90% - watch out.
 
FireWeatherMet said:
Lets look at a worse scenario...during the Bush years (and I don't mean "GW").

The savings and loan crisis of the 1980s and 1990s (commonly referred to as the S&L crisis) was the failure of747 savings and loan associations

We came out of that Bush/Reagan/McCain S&L fiasco OK..and we'll clean up this new mess from Bush Jr's reign...thanks to "Superman" and his team.
Click to expand...

So, over a span of about 10 years 747 banks washed out. Basically, the weak got hammered and the strong survived. Of those alleged strong, 282 have collapsed since 2008.

Seriously. Can anybody imagine how high this number would be without the sleight of hand trick called "mark to market"? As the home selling continues the ones who are holding on by a thread trying to the right thing will capitulate and walk away. I believe in the greater good in that there are more people trying to the right thing by making their home payment regardless of being underwater. That is all about to change and it could all hit in a span of merely 2-3 months.

Not sure if this was posted before: http://s.wsj.net/public/resources/documents/info-Failed_Banks-sort.html

Mark to market.....:laugh:. Can I mark some of my baseball cards at $75 that were once worth $100 a piece and are now worth $1?
 
If the banks had held their 'red lines' they wouldn't be having these real estate problems. Another reason not to listen to government, especial progressives.
 
[FONT=arial, helvetica, sans-serif]How about this- ?

The FDIC website doesn't list ANY Bank Failures yesterday!!!

What is a Friday, without a bank failure????

(Maybe all the bank regulators finally got a vacation!)
 [/FONT]
 
August

[FONT=arial, helvetica, sans-serif][FONT=arial, helvetica, sans-serif]Sonoma Valley Bank, Sonoma, CA with approximately $337.1 million in total assets and $255.5 million in total deposits was closed. Westamerica Bank, San Rafael, CA has agreed to assume all deposits.[/FONT]
[FONT=arial, helvetica, sans-serif](PR-196-2010).[/FONT]

[FONT=arial, helvetica, sans-serif]Los Padres Bank, Solvang, CA with approximately $870.4 million in total assets and $770.7 million in total deposits was closed. Pacific Western Bank, San Diego, CA has agreed to assume all deposits.[/FONT]
[FONT=arial, helvetica, sans-serif](PR-195-2010).[/FONT]

[FONT=arial, helvetica, sans-serif]Butte Community Bank, Chico, CA with approximately $498.8 million in total assets and $471.3 million in total deposits was closed. Rabobank, National Association (N.A.), El Centro, CA has agreed to assume all deposits.[/FONT]
[FONT=arial, helvetica, sans-serif](PR-194-2010).[/FONT]

[FONT=arial, helvetica, sans-serif]Pacific State Bank, Stockton, CA with approximately $312.1 million in total assets and $278.8 million in total deposits was closed. Rabobank, National Association (N.A.), El Centro, CA has agreed to assume all deposits, excluding certain brokered deposits.[/FONT]
[FONT=arial, helvetica, sans-serif](PR-194-2010).[/FONT]

[FONT=arial, helvetica, sans-serif]ShoreBank, Chicago, IL with approximately $2.16 billion in total assets and $1.54 billion in total deposits was closed. Urban Partnership Bank, Chicago, IL has agreed to assume all deposits, excluding certain brokered deposits.[/FONT]
[FONT=arial, helvetica, sans-serif](PR-193-2010).[/FONT]

[FONT=arial, helvetica, sans-serif]Imperial Savings and Loan Association, Martinsville, VA with approximately $9.4 million in total assets and $10.1 million in total deposits was closed. River Community Bank, National Association (N.A), Martinsville, VA has agreed to assume all deposits.[/FONT]
[FONT=arial, helvetica, sans-serif](PR-192-2010).[/FONT]

[FONT=arial, helvetica, sans-serif]Independent National Bank, Ocala, FL with approximately $156.2 million in total assets and $141.9 million in total deposits was closed. CenterState Bank of Florida, National Association (N.A.), Winter Haven, FL has agreed to assume all deposits.[/FONT]
[FONT=arial, helvetica, sans-serif](PR-191-2010).[/FONT]

[FONT=arial, helvetica, sans-serif]Community National Bank at Bartow, Bartow, FL with approximately $67.9 million in total assets and $63.7 million in total deposits was closed. CenterState Bank of Florida, National Association (N.A.), Winter Haven, FL has agreed to assume all deposits, excluding certain brokered deposits.[/FONT]
[FONT=arial, helvetica, sans-serif](PR-191-2010).[/FONT]

[FONT=arial, helvetica, sans-serif]Palos Bank and Trust Company, Palos Heights, IL with approximately $493.4 million in total assets and $467.8 million in total deposits was closed. First Midwest Bank, Itasca, IL has agreed to assume all deposits.[/FONT]
[FONT=arial, helvetica, sans-serif](PR-189-2010).[/FONT]

[FONT=arial, helvetica, sans-serif]Ravenswood Bank, Chicago, IL, with approximately $264.6 million in total assets and $269.5 million in total deposits was closed. Northbrook Bank and Trust Company, Northbrook, IL has agreed to assume all deposits, excluding certain brokered deposits.[/FONT]
[FONT=arial, helvetica, sans-serif](PR-181-2010). [/FONT]
[/FONT]
 
You must log in or register to reply here.
Back
Top