[eXpat]

Just one today
-Pinehurst Bank of St. Paul Minnesota
$this->bbcode_second_pass_quote('', 'T')oday May 21, 2010, Pinehurst Bank of St. Paul Minnesota was closed by the Minnesota Department of Commerce, with the Federal Deposit Insurance Corporation appointed as receiver. All deposits of the bank were assumed by Coulee Bank of La Crosse, Wisconsin though a purchase and assumption agreement.

Pinehurst Bank was formed in 2003 and opened its doors on April 2, 2004. They had one location had one location in Highland Park, Saint Paul, MN and 18 employees according to information posted on the bank website.

The bank had approximately $61.2 million in total assets and $58.3 million in total deposits.

[jdmartin]

5 more today:
http://news.yahoo.com/s/ap/20100529/ap_on_bi_ge/us_bank_closures;_ylt=Aoqfc.4xyDk9mSR2oaJdW3CyBhIF;_ylu=X3oDMTJobHRmNWlhBGFzc2V0A2FwLzIwMTAwNTI5L3VzX2JhbmtfY2xvc3VyZXMEY3BvcwMxBHBvcwMxBHNlYwN5bl90b3Bfc3RvcnkEc2xrAzNmbGFiYW5rczFlYQ--

[2cher]

Please correct my math if it is wrong.

We have already had 81 bank failures this year, by this time last year we only had 37 That is about a 219% increase over last year.

here is a better sorted chart I made in excel
http://cid-ac2fd5891b17951f.skydrive.li ... orted.xlsx

[eXpat]

$this->bbcode_second_pass_quote('2cher', '.')..
We have already had 81 bank failures this year, by this time last year we only had 37 That is about a 219% increase over last year.

[eXpat]

3 more today
-TierOne Bank, Lincoln, NE
-Arcola Homestead Savings Bank, Arcola, IL
-First National Bank, Rosedale, MS
$this->bbcode_second_pass_quote('', 'W')ASHINGTON — Regulators on Friday shut down a Nebraska bank that has struggled under the weight of soured loans and drawn scrutiny from federal authorities since early last year. Two small banks in Illinois and Mississippi were also shuttered, boosting the number of U.S. bank failures this year to 81.

The Federal Deposit Insurance Corp. took over TierOne Bank, based in Lincoln, Neb., with about $2.8 billion in assets. Great Western Bank, based in Sioux Falls, S.D., agreed to acquire the assets and deposits of the failed bank. In addition, the FDIC and Great Western Bank agreed to share losses on $1.9 billion of TierOne Bank's loans and other assets.
...
The FDIC also seized First National Bank, based in Rosedale, Miss., with $60.4 million in assets, and Arcola Homestead Savings Bank in Arcola, Ill., with about $17 million in assets.

Jefferson Bank, based in Fayette, Miss., agreed to acquire the assets and deposits of First National Bank. The FDIC and Jefferson Bank agreed to share losses on $43.5 million of the failed bank's loans and other assets.

The FDIC was unable to find a buyer for Arcola Homestead Savings Bank, and it approved the payout of the institution's insured deposits. The agency said it will mail checks to depositors for their insured funds on Monday.

The failure of First National Bank is expected to cost the deposit insurance fund $12.6 million; that of Arcola Homestead is expected to cost $3.2 million.

The closure of Arcola Homestead brought to 12 the number of bank failures this year in Illinois, a state with one of the highest concentrations of bank collapses and where the meltdown in the real estate market brought an avalanche of soured mortgage loans. California, Florida and Georgia also are high on the list of states with concentrated bank failures.

With 81 closures nationwide so far this year, the pace of bank failures is more than double that of 2009, which was already a brisk year for shutdowns. By this time last year, regulators had closed 37 banks. The pace has accelerated as banks' losses mount on loans made for commercial property and development.

[eXpat]

Good article
Banking System Collapse: Wake Up America Your Banks Are Dying
$this->bbcode_second_pass_quote('', 'U').S. banks are being shut down by federal regulators at a staggering pace this year, and yet most Americans seem completely oblivious to it. In fact, federal officials have already shut down 81 U.S. banks this year, which is about double the number that were shut down at this time last year. So why aren't more people upset about this? Well, part of the reason is because the FDIC is doing it very, very quietly. The bank closings for each week are announced every Friday, which means that they pass through the news cycle over the weekend almost unnoticed. For example, banks in Nebraska, Mississippi and Illinois with total deposits of almost $2.3 billion were shut down by federal regulators on Friday. So did you hear about it before now? If not, why not? Shouldn't the fact that we are experiencing a banking system collapse be headline news? But most Americans are more than happy to remain blissfully ignorant of what is going on. In fact, most Americans seem far more interested in what is happening on American Idol or Dancing With The Stars. But when the American Dream starts dying for tens of millions of Americans as the economy collapses perhaps more people will start to care.

So just how bad is the banking system crisis?

Well, FDIC Chairman Sheila Bair says that 775 banks (approximately ten percent of all banks in the United States) are now on the Federal Deposit Insurance Corporation's list of "problem" banks.

So should we be alarmed by that?

Well, there were only 252 U.S. banks on the FDIC's problem list at the end of 2008.

There were 702 U.S. banks on the FDIC's problem list at the end of 2009.

Now there are 775.

Do you know if your bank is on the verge of failing?

You might want to check.

But even if all of our banks fail the FDIC has plenty of money to cover our federally-insured banking accounts, don't they?

Unfortunately, they do not.

[eXpat]

Another one today
-Washington First International Bank
$this->bbcode_second_pass_quote('', 'W')ASHINGTON — Regulators on Friday shut down a bank in Washington, bringing to 82 the number of U.S. bank failures this year.

Seattle-based Washington First International Bank, with $520.9 million in assets and $441.4 million in deposits, was closed by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corp. as receiver of the failed bank.

[eXpat]

Just one this friday
-Nevada Security Bank, Reno, Nev
$this->bbcode_second_pass_quote('', 'W')ASHINGTON -(Dow Jones)- Nevada Security Bank of Reno was closed today by state regulators, bringing the number of failed U.S. banks in 2010 to 83.

The Federal Deposit Insurance Corp. was appointed receiver. Umpqua Bank of Roseburg, Ore. entered into an agreement with the FDIC to assume all of Nevada Security's deposits and essentially all of the failed bank's assets.

The five-branch Nevada Security had roughly $480.3 million of assets and $ 479.8 million of deposits. Umpqua bank did not pay the FDIC a premium for the failed bank's deposit. The FDIC and Umpqua agreed to share in the losses on $ 368.2 million of Nevada Security's assets.

[jdmartin]

3 more today?

First National Bank, Savannah GA
High Desert State Bank, Albuerquerque NM
Peninsula Bank, Englewood FLA

That Peninsula one was the biggest of these 3 with about half a billion in assets and deposits, and a 200 million cost to the FDIC. We'll be talking about real money soon

[metaforge]

Hey now you're talkin my language.... over at latoc, we have (I'd say had since I left there) a bank eated friday... you guys in?

I'll start it if you're interested. The idea is guess how many banks get eated for the friday, and for how much. The closest wins. Banks first, how much second.

What do you win? Why, that's always the surprise isn't it?

Admittedly I'm new over here, if PO has such please direct me and no offense. Thanks

[jdmartin]

Four more today:


Home National Bank, Blackwell, OK
USA Bank, Port Chester, NY
Ideal Federal Savings Bank, Baltimore, MD
Bay National Bank, Lutherville, MD

Link here: www.fdic.gov, on the front page.

[eXpat]

-Woodlands Bank, Bluffton
S.C.'s Woodlands Bank marks year's 91st failure
$this->bbcode_second_pass_quote('', 'S')AN FRANCISCO (MarketWatch) -- The failure of Woodlands Bank of Bluffton, S.C. raises the number of bank failures this year to 91, according to the Federal Deposit Insurance Corp. Friday. Bank of the Ozarks of Little Rock, Ark., will buy essentially all of Woodlands' $376.2 million in assets and assume $355.3 million in deposits. FDIC estimates the cost to the Deposit Insurance Fund at $115 million

[eXpat]

Actually several today!
-Mainstreet Savings Bank, FSB
-Olde Cypress Community Bank
-Turnberry Bank Aventura
-Metro Bank of Dade County
-First National Bank of the South
-Woodlands Bank
http://www.fdic.gov/bank/individual/failed/banklist.html
$this->bbcode_second_pass_quote('', 'W')ASHINGTON — Regulators on Friday shut down three banks in Florida, two in South Carolina and one in Michigan, bringing to 96 the number of U.S. banks to succumb this year to the recession and mounting loan defaults.

The Federal Deposit Insurance Corp. on Friday took over the banks: Woodlands Bank, based in Bluffton, S.C., with $376.2 million in assets; First National Bank of the South, based in Spartanburg, S.C., with $682 million in assets; and Mainstreet Savings Bank of Hastings, Mich., with $97.4 million in assets.

The FDIC also seized Miami-based Metro Bank of Dade County, with assets of $442.3 million; Turnberry Bank of Aventura, Fla., assets of $263.9 million; and Olde Cypress Community Bank of Clewiston, Fla., assets of $168.7 million.

Miami-based NAFH National Bank, a newly chartered subsidiary of North American Financial Holdings Inc. of Charlotte, N.C., agreed to assume the assets and deposits of First National Bank of the South, Metro Bank of Dade County and Turnberry Bank. North American Financial Holdings said Friday the acquisitions give it "a strong presence in attractive banking markets," with 10 branches in the Miami area and 13 throughout South Carolina.

Bank of the Ozarks, based in Little Rock, Ark., agreed to assume the assets and deposits of Woodlands Bank, while CenterState Bank of Florida is assuming the assets and deposits of Olde Cypress Community Bank; and Commercial Bank, based in Alma, Mich., is acquiring the assets and deposits of Mainstreet Savings Bank.

The failure of Woodlands Bank is estimated to cost the deposit insurance fund $115 million. Estimated costs for the others are: First National Bank of the South, $74.9 million; Mainstreet Savings Bank, $11.4 million; Metro Bank of Dade County, $67.6 million; Turnberry Bank, $34.4 million; and Olde Cypress Community Bank, $31.5 million.

With 96 closures nationwide so far this year, the pace of bank failures far outstrips that of 2009, which was already a brisk year for shutdowns. By this time last year, regulators had closed 57 banks. The pace has accelerated as banks' losses mount on loans made for commercial property and development.

[the48thronin]

SouthwestUSA Bank Las Vegas NV 35434 July 23, 2010 July 23, 2010
Community Security Bank New Prague MN 34486 July 23, 2010 July 23, 2010
Thunder Bank Sylvan Grove KS 10506 July 23, 2010 July 23, 2010
Williamsburg First National Bank Kingstree SC 17837 July 23, 2010 July 23, 2010
Crescent Bank and Trust Company Jasper GA 27559 July 23, 2010 July 23, 2010
Sterling Bank Lantana FL 32536 July 23, 2010 July 23, 2010
6 so far this week

[2cher]

103 banks this year have failed
last year 140 banks failed.

We are on page for 190+ banks to fail and potentially as high as 200.

If that doesn't give you a cause to pause and think, nothing will.

But also you must consider the other side of the coin. There are over 9000 banks in the US with assets over 100 million dollars.

[eXpat]

5 today
-LibertyBank
-The Cowlitz Bank
-Coastal Community Bank
-Bayside Savings Bank
-Northwest Bank & Trust
http://www.fdic.gov/bank/individual/failed/banklist.html
$this->bbcode_second_pass_quote('', 'W')ASHINGTON (AP) - Regulators have shut banks in Florida, Georgia and Washington, lifting to 107 the number of U.S. banks to fail this year as the industry has struggled to cope with mounting loan defaults and recession.

The Federal Deposit Insurance Corp. took over the banks: Bayside Savings Bank in Port Saint Joe, Fla., with $66.1 million in assets; Coastal Community Bank, based in Panama City, Fla., with $372.9 million in assets; NorthWest Bank and Trust, based in Acworth, Ga., with assets of $167.7 million; and Cowlitz Bank, based in Longview, Wash., with assets of $529.3 million.

[jdmartin]

Interesting how the failed banks are moving away from Nevada, Arizona etc and into places that were somewhat "immune" before...

[eXpat]

-Ravenswood Bank of Chicago

Regulators Shut Ravenswood Bank of Chicago
$this->bbcode_second_pass_quote('', 'W')ASHINGTON (Reuters) - U.S. regulators seized Ravenswood Bank of Chicago on Friday, bringing the number of closures this year to 109 as the community bank sector continues to suffer under the weight of bad loans.

Wintrust Financial Corp's Northbrook Bank and Trust Company of Northbrook, Illinois, will assume all of the deposits of the two branches of Ravenswood Bank, the Federal Deposit Insurance Corp said.

Ravenswood Bank had about $264.6 million in assets and $269.5 million in deposits as of June 30, the FDIC said.

In a statement, FDIC said Northbrook Bank will pay the FDIC a premium of 0.90 percent on the non-brokered deposits of Ravenswood Bank. In addition to assuming the non-brokered deposits of the failed bank, Northbrook Bank agreed to purchase essentially all of the assets.

[eXpat]

U.S. FDIC says Palos Bank and Trust Co. closed.
$this->bbcode_second_pass_quote('', 'A')ug 13 (Reuters) - U.S. regulators on Friday closed Palos Bank and Trust Company in Illinois, the Federal Deposit Insurance Corp said, marking the 110th U.S. bank failure so far this year and the 14th in Illinois.

The FDIC said Palos Bank and Trust Company had $493.4 million in assets. First Midwest Bank of Itasca, Illinois, will assume the deposits of the failed institution.

The bank failure is expected to cost the FDIC's insurance fund $72 million

[Altius]

hi, you can find all US bank locations, addresses, telephone numbers and more details here. Check out the below link

US Bank Locations