Failed Bank list

[beast]

just one this week
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On Friday, June 5, 2009, Bank of Lincolnwood, Lincolnwood, 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.

[beast]

3 more today

First National Bank of Anthony, Anthony, KS     4614     June 19, 2009      June 19, 2009
Cooperative Bank, Wilmington, NC    27837    June 19, 2009    June 19, 2009
Southern Community Bank, Fayetteville, GA    35251    June 19, 2009    June 19, 2009

[beast]

5 more banks yesterday

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Mirae Bank, Los Angeles, CA     57332     June 26, 2009      June 26, 2009
Metro Pacific Bank, Irvine, CA    57893    June 26, 2009    June 26, 2009
Horizon Bank, Pine City, MN    9744    June 26, 2009    June 26, 2009
Neighborhood Community Bank, Newnan, GA    35285    June 26, 2009    June 26, 2009
Community Bank of West Georgia, Villa Rica, GA    57436    June 26, 2009    June 26, 2009

[beast]

^ more banks went down today

Founders Bank    Worth     IL     18390    July 2, 2009     July 2, 2009
Millennium State Bank of Texas    Dallas    TX    57667    July 2, 2009    July 2, 2009
First National Bank of Danville    Danville    IL    3644    July 2, 2009    July 2, 2009
Elizabeth State Bank    Elizabeth    IL    9262    July 2, 2009    July 2, 2009
Rock River Bank    Oregon    IL    15302    July 2, 2009    July 2, 2009
First State Bank of Winchester    Winchester    IL    11710    July 2, 2009    July 2, 2009

[beast]

Georgia, South Dakota banks bring failures to 55 in '09
Peach State sees tenth failure of 2009, South Dakota sees first since 1992

By John Letzing, MarketWatch

SAN FRANCISCO (MarketWatch) -- Winder, Ga.-based First Piedmont Bank and Sioux Falls, S.D.-based BankFirst were closed by regulators Friday, bringing the number of U.S. bank failures in 2009 to 55 as the credit crisis continues to claim victims.

First Piedmont Bank the 10th to fail in Georgia this year. Athens, Ga.-based First American Bank and Trust Company has agreed to assume the failed bank's deposits, according to the Federal Deposit Insurance Corp.

First Piedmont had $115 million in assets and $109 million in deposits as of July 6, the FDIC said. Its failure should cost the deposit insurance fund $29 million.

BankFirst is the first South Dakota-based bank to fail since 1992, according to the FDIC.

Grand Forks, N.D.-based Alerus Financial, National Association has agreed to assume the failed bank's deposits.

BankFirst had $275 million in assets and $254 million in deposits as of April 30, the FDIC said.

The bank's failure will cost the deposit insurance fund $91 million.

Source: http://www.marketwatch.com/story/story/print?guid=0879329B-ED78-4096-A895-6777D435A47B

[beast]

7 today

whats up with GA?

[beast]

5 more today
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WASHINGTON (AP) -- Regulators have shut down Colonial BancGroup
Inc., a big lender in real estate development that buckled under
the collapse of the market. It was the biggest U.S. bank to fail
this year, with about $25 billion in assets.
The Federal Deposit Insurance Corp. was appointed receiver of
Montgomery, Ala.-based Colonial. The agency approved the sale of
Colonial's $20 billion in deposits and about $22 billion of its
assets to BB&T Corp. The failed bank's 346 branches in Alabama,
Florida, Georgia, Nevada and Texas will reopen at the normal times
starting on Saturday as offices of BB&T, the FDIC said.
The failure of Colonial is expected to cost the deposit
insurance fund an estimated $2.8 billion.


and a big one

[beast]

5 more this week before the labor day holiday.

[beast]

7 more bank failures friday.

we are up over 100

[beast]

U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation's banking industry are being crippled by bad loans.

The move brought the total number of failed banks in 2009 to 115 -- their highest annual level since 1992 -- with analysts expecting more to come. Among the lenders seized Friday was Los Angeles-based California National Bank, in what was the fourth-largest U.S. bank failure this year.


Source: http://www.reuters.com/article/topNews/idUSTRE59U05420091031?feedType=RSS&feedName=topNews

[beast]

United Commercial Bank of San Francisco, whose parent company was UCBH Holdings Inc. /quotes/comstock/15*!ucbh/quotes/nls/ucbh  (UCBH  0.84, -0.02, -2.33%) , was shut down by federal banking regulators late Friday, along with four other banks. The shutdown of the five banks brings the number of bank failures for 2009 to 120.

The 63 U.S. branches of United Commercial were set to reopen Saturday under the ownership of Pasadena, Calif.-based East West Bancorp Inc. /quotes/comstock/15*!ewbc/quotes/nls/ewbc (EWBC 8.65, +0.27, +3.22%) . United Commercial, which specialized in serving the Chinese community throughout the U.S. and American companies doing business in China, had assets of $11.2 billion and deposits of $7.5 billion as of Oct. 23.

The seizure of the bank by regulators comes after it had already received $299 million in federal financial aid last year. Its closure will cost the insurance deposit fund $1.4 billion, said the Federal Deposit Insurance Corp.

The company had a banking license in China, a branch in Hong Kong and a subsidiary in Shanghai, and those will be assumed by East West Bancorp. The Hong Kong Monetary Authority said deposits at UCB Hong Kong will be fully covered, according a report on Saturday by the Xinhua news agency.


Source: http://www.marketwatch.com/story/five-bank-closures-to-cost-fdic-fund-15-bln-2009-11-07?siteid=rss&rss=1

[beast]

Regulators on Friday shut down six U.S. banks, taking the total number of bank closures in the year to 130. The banks closed on Friday include AmTrust Bank in Ohio, which is the fourth-largest bank to fail this year.

The Federal Deposit Insurance Corporation, or FDIC, said it took over AmTrust Bank, based in Cleveland, with about $12 billion in assets and approximately $8 billion in deposits.

The family-owned AmTrust had been in trouble for more than a year following its aggressive foray into mortgage and construction lending. The bank's failure is expected to cost the federal deposit insurance fund about $2 billion.


Source: http://www.rttnews.com/ArticleView.aspx?Id=1148577