beast
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night ; 0 )
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beast
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Posts: 8778
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couple more got snuck onto the list  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 Meridian Bank, Eldred, IL October 10, 2008 October 10, 2008 Main Street Bank, Northville, MI October 10, 2008 October 10, 2008 Washington Mutual Bank, Henderson, NV and Washington Mutual Bank FSB, Park City, UT September 25, 2008 September 25, 2008 |
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beast
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Posts: 8778
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On October 24, 2008, Alpha Bank & Trust, Alpharetta, 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.
The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions.
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beast
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Posts: 8778
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2 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
Security Pacific Bank, Los Angeles, CA November 7, 2008 November 7, 2008
Franklin Bank, SSB, Houston, TX November 7, 2008 November 7, 2008 |
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beast
Hero Member
Posts: 8778
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3 more today PFF Bank and Trust, Pomona, CA November 21, 2008 November 21, 2008 Downey Savings and Loan, Newport Beach, CA November 21, 2008 November 21, 2008 The Community Bank, Loganville, GA November 21, 2008 November 21, 2008 |
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Anonymous
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How Many US Banks Will Fail? A Bailout Stretching To Infinity 95129cThe FDIC seized three more banks and sold their assets: Downey Savings and Loan, PFF Bank & Trust, and Community Bank of Loganville. The agency now has 117 banks on its list of endangered institutions. Many experts think the FDIC list is much too short and that it is a form of "window dressing" to keep the public from getting panicky. That is almost certainly true. If residential and mortgage failures pick up and consumers default on more and more of their obligations, the actual number of banks which fail could rise sharply between now and the beginning of 2009..New York University Professor Nouriel Roubini predicts that the head count of banks taken over by the agency will go well into the hundreds. According to The Wall Street Journal, "Three more banks failed Friday as government officials scramble to contain the spreading financial turmoil, marking the highest volume of bank failures in one day since the Savings and Loan crisis." One of the most significant problems is that the FDIC is running low on money to cover assets in failed banks. That means it will have to go to the Treasury for more capital. Treasury has that money, but it is fair to question what happens when more billions of dollars get added to the $700 billion already earmarked for a massive financial bailout. The government will just have to print more money. As long as the Japanese and Chinese governments will buy that Treasury debt, the bailout could go on forever. Douglas A. McIntyre  Source: http://www.247wallst.com/2008/11/how-many-us-ban.html |
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beast
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Posts: 8778
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NEW YORK (AP) - The Federal Deposit Insurance Corp. said Tuesday the list of banks it considers to be in trouble shot up nearly 50 percent to 171 during the third quarter - yet another sign of escalating problems among the institutions controlling Americans' deposits. The 171 banks on the FDIC's "problem list" encompass only about 2 percent of the nearly 8,500 FDIC-insured institutions. Still, the increase from 117 in the second quarter is sharp, and the current tally is the highest since late 1995. "We've had profound problems in our financial markets that are taking a rising toll on the real economy," said FDIC Chairman Sheila Bair in a statement, adding that Tuesday's report "reflects these challenges." Banks across the country have been hurt - and in some cases, devastated - by the collapse of the subprime mortgage market and subsequent problems across the lending spectrum. As the FDIC report shows, the number of hobbled institutions is rising at a quickening pace, a trend that has already begun to reshape the banking industry. The FDIC said total assets held by troubled institutions climbed from $78.3 billion to $115.6 billion - a figure that suggests that the nation's top 20 banks aren't on the list, even though they are getting slammed, too, by the growing credit crisis. The FDIC does not reveal the names of the institutions it deems troubled. Bert Ely, a banking consultant based in Alexandria, Va., pointed out that the assets held by problem banks represent less than 1 percent of those held by all U.S. banks. "We're still talking about a fairly small portion of the industry," he said. And on average, only about 13 percent of institutions on the FDIC's list end up failing. Still, banks that don't make the list can end up collapsing anyway - the two biggest bank failures over the past year, Washington Mutual Inc. and IndyMac Bancorp, had not been on the FDIC's list of troubled banks. Wachovia Corp. (WB), which nearly failed before it got bought by Wells Fargo & Co. (WFC) in October, had not been on the list, either. Nine banks failed in the third quarter, decreasing the FDIC's deposit insurance fund to $34.6 billion from $45.2 billion in the second quarter. This quarter, the pace appears to be picking up - nine banks have already failed since Sept. 30, including Downey Savings and Loan Association, based in Newport Beach, Calif. "To some extent, a bank failure is a regulatory failure," Ely said. Regulators, if they address bank problems early on, can convince a troubled bank to sell off assets, raise capital or find a buyer, he said. "My hope is they're moving faster on these problems." The FDIC said Tuesday that commercial banks and savings institutions suffered a 94 percent drop in third-quarter profits to $1.7 billion from $27 billion in the same period last year. Except for the fourth quarter of 2007, it was the lowest quarterly profit since the fourth quarter of 1990. Those institutions wrote off $27.9 billion in loans as uncollectible during the quarter. Recently, community banks - defined as those with assets under $1 billion - have started to show similar stresses as their larger counterparts, the FDIC said. James Chessen, chief economist at the American Bankers Association, said in a statement that the banking industry as whole, however, "remains well-positioned to meet the credit needs of local communities." Since last year, bank lending to businesses has risen by more than 8 percent, while bank lending to individuals has risen by nearly 7 percent, he said. The U.S. government has been guaranteeing and buying more and more types of debt in an effort to keep the financial system functional. Late Sunday, Citigroup Inc. (C) got a government backstop for $306 billion worth of mortgages and other assets. On Tuesday, the Federal Reserve agreed to buy up to $600 billion in mortgage-backed assets. Source: http://apnews.myway.com/article/20081125/D94M69880.html |
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beast
Hero Member
Posts: 8778
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On December 5, 2008, First Georgia Community Bank, Jackson, 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.
The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions.
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Anonymous
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well, I guess if your bank fails, it's best to have it happen before the FDIC runs out of cash
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Anonymous
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2 more banks today On Friday, December 12, 2008, Sanderson State Bank, Sanderson, TX was closed by the Texas Department 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. The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions. -------------------------------- On December 12, 2008, Haven Trust Bank, Duluth, 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. The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions. Source: http://www.fdic.gov/bank/individual/failed/haventrust.html |
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beast
Hero Member
Posts: 8778
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They added a couple of more today
Failed Bank Information Information for Bank of Clark County, Vancouver, WA
I. Introduction
On January 16, 2009, Bank of Clark County, Vancouver, WA was closed by the Washington Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions.
Failed Bank Information Information for National Bank of Commerce, Berkeley, IL
I. Introduction
On January 16, 2009, National Bank of Commerce, Berkeley, IL was closed by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions. |
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beast
Hero Member
Posts: 8778
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and another one gone On January 23, 2009, 1st Centennial Bank, Redlands, CA was closed by the California Department of Financial Institutions (DFI) and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions. |
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