2010 Bank Failures

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....
 
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.
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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.
 
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 :mad:
But they pay the highest rates on their savings :)
Go figure.
 
Only one this week?

Must have been because of the snow this week. I figured they were snowed under in D.C.- and next week it's a short work week too.

Maybe we can prevent more bank failures simply by closing the federal government for four days at a time...
 
1st American State Bank of Minnesota, Hancock, MN with approximately $18.2 million in assets and approximately $16.3 million in deposits was closed. Community Development Bank, FSB, Ogema, MN has agreed to assume all deposits. (PR-030-2010)
 
Six down the tubes.

American Marine Bank, Bainbridge Island, WA with approximately $373.2 million in assets and approximately $308.5 million in deposits was closed. Columbia State Bank, Tacoma, WA has agreed to assume all deposits, excluding certain brokered deposits. (PR-027-2010)

First Regional Bank, Los Angeles, CA with approximately $2.18 billion in assets and approximately $1.87 billion in deposits was closed. First-Citizens Bank & Trust Company, Raleigh, NC has agreed to assume all deposits, excluding certain brokered deposits. (PR-026-2010)

Community Bank and Trust, Cornelia, GA with approximately $1.2 billion in assets and approximately $1.1 billion in deposits was closed. SCBT National Association, Orangeburg, SC has agreed to assume all deposits, excluding certain brokered deposits. (PR-025-2010)

Marshall Bank, N.A., Hallock, MN with approximately $59.9 million in assets and approximately $54.7 million in deposits was closed. United Valley Bank, Cavalier, ND has agreed to assume all deposits. (PR-024-2010)

Florida Community Bank, Immokalee, FL with approximately $875.5 million in assets and approximately $795.5 million in deposits was closed. Premier American Bank, N.A., Miami, FL has agreed to assume all deposits, excluding certain brokered deposits. (PR-023-2010)

First National Bank of Georgia, Carrollton, GA with approximately $832.6 million in assets and approximately $757.9 million in deposits was closed. Community and Southern Bank, Carrollton, GA has agreed to assume all deposits, excluding certain brokered deposits. (PR-022-2010)
 
What the hay?

They only listed two as of 7:42 pm. tonight eastern time. I intentionally waited until after 7 p.m., because they usually list them at about 7 p.m. (4 pm west coast time).

This time they added to the list AFTER I posted that only two failed this week.

Now we're at FIVE today:
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Bank Closing Information - January 22, 2010
These links contain useful information for the customers and vendors of these closed banks.

Columbia River Bank, The Dalles, OR
Evergreen Bank, Seattle, WA
Charter Bank, Santa Fe, NM
Bank of Leeton, Leeton, MO
Premier American Bank, Miami, FL
 
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