Occasion2B
beast
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3 more down friday.
Ocala National Bank, Ocala, FL January 30, 2009 January 30, 2009
Suburban Federal Savings Bank, Crofton, MD January 30, 2009 January 30, 2009
MagnetBank, Salt Lake City, UT January 30, 2009 January 30, 2009
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beast
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Posts: 9388
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3 more banks today
Failed Bank List
The FDIC is often appointed as receiver for failed banks. This page contains useful information for the customers and vendors of these banks. This includes information on the acquiring bank (if applicable), how your accounts and loans are affected, and how vendors can file claims against the receivership.
This list includes banks which have failed since October 1, 2000.
Bank Name Closing Date Updated Date
County Bank, Merced, CA February 6, 2009 February 6, 2009
Alliance Bank, Culver City, CA February 6, 2009 February 6, 2009
FirstBank Financial Services, McDonough, GA February 6, 2009 February 6, 2009
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beast
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Posts: 9388
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4 more this week  ------------- Pinnacle Bank of Oregon, Beaverton, OR February 13, 2009 February 13, 2009 Corn Belt Bank and Trust Company, Pittsfield, IL February 13, 2009 February 13, 2009 Riverside Bank of the Gulf Coast, Cape Coral, FL February 13, 2009 February 13, 2009 Sherman County Bank, Loup City, NE February 13, 2009 February 13, 2009 |
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beast
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Posts: 9388
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only one this week On March 6, 2009, Freedom Bank of Georgia, Commerce, GA was closed by the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. |
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beast
Hero Member
Posts: 9388
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3 more today
Bank Name
TeamBank, National Association, Paola, KS March 20, 2009
Colorado National Bank, Colorado Springs, CO March 20, 2009
FirstCity Bank, Stockbridge, GA March 20, 2009
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beast
Hero Member
Posts: 9388
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2 more
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beast
Hero Member
Posts: 9388
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NEW YORK: The number of failed US banks reached 25 this year after two more regional financial institutions closed their doors, the government announced. The tally for less than the first four months of this year has already equalled the total of last year. On Friday, Great Basin Bank of Nevada, which has nearly 271 million dollars in assets and is based in the city of Elko, was closed by the State of Nevada Division of Financial Institutions, the Federal Deposit Insurance Corporation (FDIC) announced. On the same day, American Sterling Bank of Sugar Creek, Missouri, with nearly 172 million dollars in assets, was closed by The Office of Thrift Supervision.  Source: http://www.thearynews.com/english/newsdetail.asp?nid=25370 |
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beast
Hero Member
Posts: 9388
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4 more banks this week
Failed Bank List
The FDIC is often appointed as receiver for failed banks. This page contains useful information for the customers and vendors of these banks. This includes information on the acquiring bank (if applicable), how your accounts and loans are affected, and how vendors can file claims against the receivership. Failed Financial Institution Contact Search displays point of contact information related to failed banks.
This list includes banks which have failed since October 1, 2000.
Bank Name CERT # Closing Date Updated Date
First Bank of Idaho, Ketchum, ID 34396 April 24, 2009 April 24, 2009
First Bank of Beverly Hills, Calabasas, CA 32069 April 24, 2009 April 24, 2009
Heritage Bank, Farmington Hills, MI 34369 April 24, 2009 April 24, 2009
American Southern Bank, Kennesaw, GA 57943 April 24, 2009 April 24, 2009 |
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beast
Hero Member
Posts: 9388
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Westsound Bank, Bremerton, WA 34843 May 8, 2009 May 8, 2009
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beast
Hero Member
Posts: 9388
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On Thursday, May 21, 2009, BankUnited, FSB, Coral Gables, FL was closed by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. Subsequent to the closure, BankUnited, a newly chartered federal savings bank, acquired the assets and most of the liabilities of BankUnited, FSB from the FDIC as Receiver for BankUnited, FSB. No advance notice is given to the public when a financial institution is closed.
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beast
Hero Member
Posts: 9388
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Florida bank collapses - firms swoop in $13 billion BankUnited closed in biggest failure of year. Florida thrift bought by Wilbur Ross, Carlyle Investment, Blackstone Capital and other private firms. By Tami Luhby, CNNMoney.com senior writer Last Updated: May 21, 2009: 7:29 PM ET NEW YORK (CNNMoney.com) -- A consortium of private equity firms has acquired BankUnited FSB in Florida after the savings and loan was shut down by federal regulators Thursday. The 34th bank to fail this year and the largest so far, BankUnited (BKUNA) had $12.8 billion in assets, $8.6 billion in deposits and 85 branches. The new institution will be named BankUnited. Similar to a deal it did with IndyMac, the California mortgage bank that failed last July, the Federal Deposit Insurance Corp. will share in losses on about $10.7 billion in assets. The bank's new owners will inject $900 million in new capital into the Coral Gables, Fla.-based institution. The FDIC estimates it will take a $4.9 billion hit to its deposit insurance fund. Investors include WL Ross & Co., Carlyle Investment Management, Blackstone Capital Partners, Centerbridge Capital Partners, LeFrak Organization, The Wellcome Trust, Greenaap Investments and East Rock Endowment Fund. The new BankUnited will be run by industry veteran John Kanas, who built North Fork Bank in New York City's Long Island suburbs into a regional powerhouse. Kanas ran Capital One's banking operation after it acquired North Fork in 2006. He left Capital One (COF, Fortune 500) the next year. The deal is the second involving private investors and a failed bank, and comes five months after a consortium acquired IndyMac. Private equity firms have become increasingly interested in acquiring banks, though their participation in such deals had long been limited. Last year, as failures mounted, regulators relaxed the rules about who can buy a bank. In early January, a group of private investment firms, including buyout shop J.C. Flowers & Co. and hedge fund Paulson & Co., struck a deal with the Federal Deposit Insurance Corp. to buy failed mortgage lender IndyMac for $13.9 billion. The bank is now controlled by IMB Management Holdings, led by Steven Mnuchin, who is chair and co-chief executive of Dune Capital Management. The IndyMac deal is thought to be the first where private investors led the buyout of a failed bank. In the IndyMac purchase, the buyers took responsibility for the first 20% of losses, and the FDIC covered the majority of additional losses. IndyMac's failure is expected to cost the agency $10.7 billion. The BankUnited acquisition fulfills a pledge by billionaire investor Wilbur Ross, known for his investments in distressed companies in the steel, automotive industries. The head of WL Ross & Co. said in January that it was only a matter of time before his firm bought a bank. Investors have for weeks been circling BankUnited, which was toppled by its mortgage portfolio. "Ultimately, the combination of an excessive concentration in payment option ARM loans with too many risk layers and rapidly deteriorating economic conditions overwhelmed BankUnited's capacity to absorb the losses on the portfolio," according to the Office of Thrift Supervision, which regulated the institution. In mid-April, the regulator told the bank it must hook up with another institution or sell itself to correct its severe capital deficiency. Three groups offered bids, which were due at 5 p.m. Thursday. To top of page First Published: May 21, 2009: 6:09 PM ET Find this article at: Source: http://money.cnn.com/2009/05/21/news/companies/BankUnited |
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beast
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Posts: 9388
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2 more today ----- On May 22, 2009, Citizens National Bank , Macomb, Illinois was closed by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. ---------- On Friday, May 22, 2009, Strategic Capital Bank, Champaign, IL was closed by the Illinois Department of Financial and Professional Regulation, Division of Banking and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. |
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