2010 Bank Failures

[James48843]

Bank Failure Friday!

TWO BANKS TODAY:

Bank Closing Information - February 26, 2010
These links contain useful information for the customers and vendors of these closed banks.

Rainier Pacific Bank, Tacoma, WA
Carson River Community Bank, Reno, NV

 

[tsptalk]

Banks shuttered in Fla., Ill., Md., Utah

Regulators shut down banks in 4 states, making 26 US bank failures this year

 

[James48843]

Yep- here are the four:


Bank Closing Information - March 5, 2010
These links contain useful information for the customers and vendors of these closed banks.

Centennial Bank, Ogden, UT
Waterfield Bank, Germantown, MD
Bank of Illinois, Normal, IL
Sun America Bank, Boca Raton, FL

And the beat goes on.......

 

[2moryrs]

My bank was one taken down this year Columbia River Bank. Seems like they are taking down banks that had participated in creative real estate loans. I was concerned that they had been warned by the State Regulators but this little bank was so much superior to most of the other banks in town. I would support my credit union with a share draft account but they only have savings and loans
But they pay the highest rates on their savings
Go figure.

 

[James48843]

If you want to see how many banks are going to fail before all this is over with- take a look at the "Unofficial Bank List" here on this link:
http://bankimplode.com/list/troubledbanks.htm

Although this is nothing more than data from last September's filings of debt to asset ratio, etc, it is enough to see that a lot more banks are in hot water right now. The ones in red are likely to fail, and the yellow ones are in jeopardy.

Banks highlighted in red have effective tier 1 leverage ratio of less than 4%, the FDIC legal minimum.
Banks highlighted in orange have effective tier 1 leverage ratios of 4% to 5%.
Banks highlighted in yellow have effective tier 1 leverage ratios of 5% to 6%.

All are being watched carefully right now.

The FDIC has only a limited number of people working the bank failures- so they are doing them as orderly as they can- but you can expect this to continue for some time.

 

[Bullitt]

Let's put this in perspective.

The American economy and Wall Street bonuses may be growing again, but many of America's commercial banks are still fragile. According to the Federal Deposit Insurance Corporation, which is on the hook for the money people have in failed banks, 140 banks went under last year, more than four times as many as collapsed in the entire eight-year period from 2000-2007. Forty-five banks failed in the last quarter of 2009 alone. The agency reckons that another 702 banks, with total assets worth $402.8 billion, are in trouble but have not failed. The number of these “problem institutions” is more than nine times as great as in 2007; the total assets held by such troubled banks is more than 18 times as great.

​

http://www.economist.com/daily/news/displaystory.cfm?story_id=15585340&fsrc=nwl​

 

[Show-me]

Regulators shut LibertyPointe Bank in NYC

Regulators shut down LibertyPointe Bank in New York City; makes 27 US bank failures this year


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

 

[James48843]

BANK FAILURE FRIDAY-

Three more today on the FDIC.GOV website:

Bank Closing Information - March 12, 2010
These links contain useful information for the customers and vendors of these closed banks.

Statewide Bank, Covington, LA
Old Southern Bank, Orlando, FL
Park Avenue Bank, New York, NY

 

[James48843]

How about that?

PARK AVENUE BANK!

I guess that means- do not pass go. Do not collect $200.

View attachment 8668​

 

[James48843]

Bank Failure Friday:

SEVEN more banks failed today:

Bank Closing Information - March 19, 2010
These links contain useful information for the customers and vendors of these closed banks.

State Bank of Aurora, Aurora, MN
First Lowndes Bank, Fort Deposit, AL
Bank of Hiawassee, Hiawassee, GA
Appalachian Community Bank, Ellijay, GA
Advanta Bank Corp., Draper, UT
Century Security Bank, Duluth, GA
American National Bank, Parma, OH

 

[Warrenlm]

Is anyone seeing a pattern in acquisition of the small failures to confirm or deny the theory that big banks were gathering cash to assist in small bank takeovers? The press releases note acquiring banks but the layers and ownership tracking seems to require significant detective work. I guess until Denninger gets around to it....

 

[James48843]

BANK FAILURE FRIDAY.....

FOUR more banks today:

Bank Closing Information - March 26, 2010
These links contain useful information for the customers and vendors of these closed banks.

Desert Hills Bank, Phoenix, AZ
Unity National Bank, Cartersville, GA
Key West Bank, Key West, FL
McIntosh Commercial Bank, Carrolton, GA

 

[James48843]

How about that?

Good Friday- and ZERO bank failures yesterday.

Maybe they were just being nice.

 

[tsptalk]

Were banks even open on Good Friday? Maybe nobody was there to answer the door when the FDIC was a knock'in.

 

[KevinD]

Georgia's still in the lead. GO Georgia!!!

 

[James48843]

BANK FAILURE FRIDAY-

Only one bank on the list so far. I wonder if they are waiting till later tonight for a bank on the west coast. They've done that before.

But so far-- this is the only one listed:

From http://www.fdic.gov :
----------------------------------------

Bank Closing Information - April 9, 2010
These links contain useful information for the customers and vendors of these closed banks.

Beach First National Bank, Myrtle Beach, SC

 

[James48843]

BANK FAILURE FRIDAY!

We're back in the wholesale Bank Failure mode.

Today, FIVE banks hit the bricks-

From http://www.FDIC.gov :

---------------------------------------------
Bank Closing Information - April 16, 2010
These links contain useful information for the customers and vendors of these closed banks.

Butler Bank, Lowell, MA
Riverside National Bank of Florida, Fort Pierce, FL
AmericanFirst Bank, Clermont, FL
First Federal Bank of North Florida, Palatka, FL
Lakeside Community Bank, Sterling MI

 

[Show-me]

Eight.

 

[James48843]

Wow.

Yep, it's now eight today. Three more added on the west coast after closing time today:
------------------------------------------------------

Bank Closing Information - April 16, 2010
These links contain useful information for the customers and vendors of these closed banks.

City Bank, Lynnwood, WA
Tamalpais Bank, San Rafael, CA
Innovative Bank, Oakland, CA
Butler Bank, Lowell, MA
Riverside National Bank of Florida, Fort Pierce, FL
AmericanFirst Bank, Clermont, FL
First Federal Bank of North Florida, Palatka, FL
Lakeside Community Bank, Sterling MI

-------------------------------------------------------

Eight in one day- is that a record so far in this cycle of bank failures?

 

[Show-me]

FDIC shuts down 7 banks in Illinois

Regulators shut down 7 banks in Illinois; 57 closures for the year