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2011 Failed Banks Thread
Re: 2011 Failed Banks Thread
by jdmartin » Sat 30 Apr 2011, 18:22:31
Actually it looks like 50 banks closed by this time last year, so it's a little behind last year's pace. Frankly, not something worth bragging about if you ask me. The cost of the banks closed just Friday were almost a billion dollars. After awhile, I guess it's just zeroes...
After fueling up their cars, Twyman says they bowed their heads and asked God for cheaper gas.There was no immediate answer, but he says other motorists joined in and the service station owner didn't run them off.
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Re: 2011 Failed Banks Thread
by eXpat » Sat 07 May 2011, 08:49:48
One yesterday
- Coastal Bank
http://www.fdic.gov/bank/individual/failed/banklist.html
$this->bbcode_second_pass_quote('', 'B')ANK SEIZED: The Federal Deposit Insurance Corp. closed Coastal Bank of Cocoa Beach, Fla., lifting the number of U.S. bank failures this year to 40. By this time last year, regulators had closed 68 banks.
TAKEOVER: Premier American Bank N.A., based in Miami, agreed to assume Coastal Bank's $123.9 million in deposits. It also agreed to buy the failed bank's $129.4 million in assets and share in losses of $108.2 million with the FDIC.
THE BILL: Coastal Bank's failure is expected to cost the deposit insurance fund $13.4 million.
- Coastal Bank
http://www.fdic.gov/bank/individual/failed/banklist.html
$this->bbcode_second_pass_quote('', 'B')ANK SEIZED: The Federal Deposit Insurance Corp. closed Coastal Bank of Cocoa Beach, Fla., lifting the number of U.S. bank failures this year to 40. By this time last year, regulators had closed 68 banks.
TAKEOVER: Premier American Bank N.A., based in Miami, agreed to assume Coastal Bank's $123.9 million in deposits. It also agreed to buy the failed bank's $129.4 million in assets and share in losses of $108.2 million with the FDIC.
THE BILL: Coastal Bank's failure is expected to cost the deposit insurance fund $13.4 million.
http://www.businessweek.com/ap/financialnews/D9N290NO3.htm
"I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it."
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“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
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Re: 2011 Failed Banks Thread
by eXpat » Fri 20 May 2011, 19:42:18
And 3 today
-Summit Bank
-First Georgia Banking Company
-Atlantic Southern Bank
Authorities close two small banks in Georgia
$this->bbcode_second_pass_quote('', 'M')ay 20 (Reuters) - U.S. authorities closed two small banks in west-central Georgia on Friday, bringing the number of foreclosures in 2011 to 42.
CertusBank, a subsidiary of Blue Ridge Holdings Inc, bought the failed banks. Blue Ridge is led by former Bank of America Corp (BAC.N) and Wachovia Corp executives who want to build a regional bank in the U.S. Southeast.
The new acquisitions were Atlantic Southern Bank of Macon, and First Georgia Banking Company of Franklin. Atlantic Southern Bank had assets of $741.9 million and First Georgia Banking had assets of $731 million as of March 31.
Blue Ridge was formed last year with $500 million from investors. In January, it bought a South Carolina bank that regulators closed.
Together, Atlantic Southern and First Georgia Banking had 26 branches, which will reopen on Saturday as branches of CertusBank. The Federal Deposit Insurance Corp, the receiver of closed banks, said it entered into loss-share transactions with CertusBank totaling $1 billion.
-Summit Bank
-First Georgia Banking Company
-Atlantic Southern Bank
Authorities close two small banks in Georgia
$this->bbcode_second_pass_quote('', 'M')ay 20 (Reuters) - U.S. authorities closed two small banks in west-central Georgia on Friday, bringing the number of foreclosures in 2011 to 42.
CertusBank, a subsidiary of Blue Ridge Holdings Inc, bought the failed banks. Blue Ridge is led by former Bank of America Corp (BAC.N) and Wachovia Corp executives who want to build a regional bank in the U.S. Southeast.
The new acquisitions were Atlantic Southern Bank of Macon, and First Georgia Banking Company of Franklin. Atlantic Southern Bank had assets of $741.9 million and First Georgia Banking had assets of $731 million as of March 31.
Blue Ridge was formed last year with $500 million from investors. In January, it bought a South Carolina bank that regulators closed.
Together, Atlantic Southern and First Georgia Banking had 26 branches, which will reopen on Saturday as branches of CertusBank. The Federal Deposit Insurance Corp, the receiver of closed banks, said it entered into loss-share transactions with CertusBank totaling $1 billion.
http://www.reuters.com/article/2011/05/20/bankfailures-idUSN2027896820110520
"I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it."
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
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Re: 2011 Failed Banks Thread
by eXpat » Sat 28 May 2011, 18:40:48
"I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it."
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
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eXpat - Intermediate Crude
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Re: 2011 Failed Banks Thread
by eXpat » Mon 06 Jun 2011, 09:41:07
And another one on the 3th
-Atlantic Bank and Trust
http://www.fdic.gov/bank/individual/failed/banklist.html
-Atlantic Bank and Trust
http://www.fdic.gov/bank/individual/failed/banklist.html
"I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it."
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
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eXpat - Intermediate Crude
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Re: 2011 Failed Banks Thread
by jdmartin » Tue 07 Jun 2011, 12:53:21
Think there might be some truth to my hypothesis that they've laid off all the swoop team members 
Since the shutdowns have slowed down considerably. Either that, or they've picked off all the easy meat and now it'll be bone crushing time..
Since the shutdowns have slowed down considerably. Either that, or they've picked off all the easy meat and now it'll be bone crushing time..After fueling up their cars, Twyman says they bowed their heads and asked God for cheaper gas.There was no immediate answer, but he says other motorists joined in and the service station owner didn't run them off.
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Re: 2011 Failed Banks Thread
by eXpat » Fri 17 Jun 2011, 20:41:06
2 Today:
-First Commercial Bank of Tampa Bay
-McIntosh State Bank
http://www.fdic.gov/bank/individual/failed/banklist.html
$this->bbcode_second_pass_quote('', ' ')The Federal Deposit Insurance Corp. said two banks failed Friday--one in George and another in Florida--to bring the tally of closures so far this year to 47.
Georgia regulators closed McIntosh State Bank Friday evening. The FDIC took over the Jackson-based bank as receiver and agreed to let Hoschton-based Hamilton State Bank assume all of the deposits, which stood at $324.4 million at the end of March. McIntosh had four branches and about $339.9 million in total assets.
In Florida, state regulators closed the two branches of First Commercial Bank of Tampa Bay. The FDIC said Stonegate Bank, based in Fort Lauderdale, Fla., agreed to pay it a premium of 0.5% to assume approximately $92.6 million of First Commercial's deposits. Stonegate Bank also agreed to purchase essentially all of the failed bank's $98.6 million in assets, the FDIC said.
Three banks have failed so far in June, indicating that the deterioration in the financial sector has continued to slow since the implosion in the wake of the financial crisis. The tally of five last month was the lowest since early 2009.
-First Commercial Bank of Tampa Bay
-McIntosh State Bank
http://www.fdic.gov/bank/individual/failed/banklist.html
$this->bbcode_second_pass_quote('', ' ')The Federal Deposit Insurance Corp. said two banks failed Friday--one in George and another in Florida--to bring the tally of closures so far this year to 47.
Georgia regulators closed McIntosh State Bank Friday evening. The FDIC took over the Jackson-based bank as receiver and agreed to let Hoschton-based Hamilton State Bank assume all of the deposits, which stood at $324.4 million at the end of March. McIntosh had four branches and about $339.9 million in total assets.
In Florida, state regulators closed the two branches of First Commercial Bank of Tampa Bay. The FDIC said Stonegate Bank, based in Fort Lauderdale, Fla., agreed to pay it a premium of 0.5% to assume approximately $92.6 million of First Commercial's deposits. Stonegate Bank also agreed to purchase essentially all of the failed bank's $98.6 million in assets, the FDIC said.
Three banks have failed so far in June, indicating that the deterioration in the financial sector has continued to slow since the implosion in the wake of the financial crisis. The tally of five last month was the lowest since early 2009.
http://online.wsj.com/article/BT-CO-20110617-713221.html
"I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it."
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
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Re: 2011 Failed Banks Thread
by jdmartin » Sat 18 Jun 2011, 00:16:57
Man, you're fast expat
After fueling up their cars, Twyman says they bowed their heads and asked God for cheaper gas.There was no immediate answer, but he says other motorists joined in and the service station owner didn't run them off.
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jdmartin - Heavy Crude
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Re: 2011 Failed Banks Thread
by eXpat » Sat 18 Jun 2011, 09:43:11
$this->bbcode_second_pass_quote('jdmartin', 'M')an, you're fast expat
Just keeping the tally
"I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it."
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
George Bernard Shaw
“You can ignore reality, but you can't ignore the consequences of ignoring reality.” Ayn Rand
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eXpat - Intermediate Crude
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- Joined: Thu 08 Jun 2006, 03:00:00
Bank of Whitman, Colfax, WA
