[jaredsbanz]

Yes, with some many banks still failing, banks like CenterState have opportunities to really expand and add a lot more future businesss. Check out their news releases here: http://www.centerstatebank.com/node/41

[eXpat]

Four today:
-ShoreBank
-Imperial Savings and Loan Association
-Independent National Bank
-Community National Bank at Bartow
http://www.fdic.gov/bank/individual/failed/banklist.html
FDIC says regulators close four banks
$this->bbcode_second_pass_quote('', '(')Reuters) - The Federal Deposit Insurance Corp said on Friday these banks were seized by their regulators:

* In the largest failure in months, Chicago's ShoreBank was acquired by Urban Partnership Bank in Chicago. ShoreBank, a notable community development bank, had $2.16 billion in assets and $1.54 billion in deposits. The FDIC and Urban Partnership Bank entered into a loss-share transaction on $1.41 billion of ShoreBank's assets. The closing will cost the insurance fund $367.7 million.

* Community National Bank At Bartow in Bartow, Florida, with about $67.9 million in total assets. CenterState Bank of Florida, National Association, Winter Haven, Florida, will assume Community National Bank At Bartows' $63.7 million in deposits, as well as about $51.9 million of its assets. The failure will cost the insurance fund about $10.3 million.

* Independent National Bank in Ocala, Florida, with about $156.2 million in assets, was also acquired by CenterState Bank of Florida, N.A., which will assume the deposits and buy the assets. The FDIC said it entered into a loss-share agreement with CenterState Bank of Florida, N.A. on $119.7 million of the assets. The failure will cost the insurance fund $23.2 million.

* Imperial Savings and Loan Association in Martinsville, Virginia, with about $9.4 million in total assets. River Community Bank, National Association of Martinsville, Virginia, will assume the bank's deposits and its assets. The failure will cost the insurance fund $3.5 million.

[IslandCrow]

I know a lot of banks are failing, but they are being sold on to other banks, and it seems that the individual branches are reopening. Are there any good figures for how the total branch network is doing (ie how many high street locations are actually closing after the failure of the parent bank)?

Some years ago when Finland went thorough a bank crisis and banks were merged, that lead to a large wave of closures of the high street branches, as there was too much capacity.

[the48thronin]

wasn't some political notable on the board at shore bank?

[jdmartin]

There actually ended up being 8 banks on the 20th. None on the 27th and none yesterday. Don't remember the last time 2 weeks straight went by without a closing...wonder if that's good or bad...

[FloridaGirl]

I think they just bunched them up to give the FDIC employees the Labor Day holiday off.

[Keith_McClary]

Soldiers Turn Back Surge of Government Workers at Embattled BankSeptember 8, 2010
$this->bbcode_second_pass_quote('', '.').. The panic over the bank began last week, after Afghanistan’s Central Bank ousted Kabul Bank’s chairman and the chief executive officer on revelations that the bank had lent hundreds of millions of dollars to allies of President Hamid Karzai and poured money into risky real estate investments in Dubai. Investment losses paired with a possible run on the bank could bring down the bank, which is a major player in the nascent, American-fostered financial system and which administers payments to government workers and some security forces.

[eXpat]

Horizon Bank becomes year's 119th bank failure
$this->bbcode_second_pass_quote('', 'S')AN FRANCISCO (MarketWatch) -- Horizon Bank of Bradenton, Fla., became the 119th U.S. bank failure of 2010, according to the Federal Deposit Insurance Corp. on Friday. Bank of the Ozarks will assume Horizon's $164.6 million in deposits and purchase its $187.8 million in assets. The bank failure marks the 23rd in Florida this year. The cost to the Deposit Insurance Fund is $58.9 million, FDIC said

[Keith_McClary]

Central bank takes control of scandal-hit Kabul Bank
$this->bbcode_second_pass_quote('', 'A')fghanistan’s central bank yesterday seized control of the troubled Kabul Bank over concerns about possible financial irregularities, including the purchase of more than US$150 million (Dh550.9m) of Dubai property.

The central bank governor also announced that Kabul Bank’s top two directors and shareholders were under investigation.

[eXpat]

6 today
-Maritime Savings Bank
-Bramble Savings Bank
-The Peoples Bank
-First Commerce Community Bank
-Bank of Ellijay
-ISN Bank
http://www.fdic.gov/bank/individual/failed/banklist.html
Six U.S. Banks Fail as Georgia Lender Community & Southern Acquires Three
$this->bbcode_second_pass_quote('', 'G')eorgia’s Community & Southern Bank picked up $800 million in deposits as it acquired three of the six U.S. banks that collapsed this week, bringing the failure count this year to 125.

Banks in Georgia, New Jersey, Ohio and Wisconsin were closed by regulators, according to statements on the website of the Federal Deposit Insurance Corp., which was named receiver. This week’s failures cost the agency’s deposit-insurance fund $347.6 million.

“Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage,” the FDIC said in each of the statements.

Banks are failing at a faster pace than last year, which saw the most failures since 1992, as real estate values remain depressed and economic recovery stays sluggish. Regulators closed 140 banks last year. The FDIC’s list of “problem” banks climbed to 829 lenders with $403 billion in assets at the end of the second quarter, a 7 percent increase from the 775 on the list in the first quarter, the FDIC said last month.

[eXpat]

Another Friday, another banks crashing, two today
-North County Bank
-Haven Trust Bank Florida
http://www.fdic.gov/bank/individual/failed/banklist.html
Haven Trust Bank Florida, Ponte Vedra Beach, Florida, Closed By Regulators
$this->bbcode_second_pass_quote('', 'S')eptember 24, 2010 - Florida has experienced more banking failures than any other state in the nation. Today’s failure of Haven Trust Bank Florida becomes the nation’s 126th banking failure and the twenty-fourth in Florida. Almost 20% of the nation’s total banking failures have now occurred in Florida. The only two other states with more than ten banking failures are Illinois with 15 and Georgia with 14 (see Banking Failures Spread to 28 States).

Haven Trust Bank Florida, operating under a consent order with State and Federal regulators since early 2010, was closed by the Florida Office of Financial Regulation which appointed the FDIC as receiver. The consent order had required Haven Trust to raise critically needed capital and reduce nonperforming loans. In March 2010, President and CEO Matt Greene stated that “Our team is well on its way to meeting all requirements of the order and returning the bank to good standing”. Similar to many other small undercapitalized banks, Haven Trust was unable to meet the requirements of the FDIC consent order.

The FDIC, as receiver, entered into a purchase and assumption agreement with First Southern Bank, Boca Raton Florida to assume all deposits and purchase essentially all of the assets of failed Haven Trust Bank.

Although Haven Trust Bank Florida operated as a separate institution under a different banking charter, the bank had close ties to Haven Trust Bank, Duluth, Georgia, that was closed by regulators on December 12, 2008. Haven Trust Bank Florida, was founded in 2006 and five of its 11 founders also held management or board positions at Haven Trust Bank, Duluth, Georgia.

Both banks targeted primarily Indian and other Asian small business owners and both banks had almost 30% of their total loans in risky acquisition, development and construction loans. Both banks also fueled asset growth through aggressive soliciting of brokered deposits at high rates of interest.

[eXpat]

Two more banks failed last week
-Shoreline Bank
-Wakulla Bank
http://www.fdic.gov/bank/individual/failed/banklist.html

[eXpat]

Three today
-Premier Bank
-WestBridge Bank and Trust Company
-Security Savings Bank,
http://www.fdic.gov/bank/individual/failed/banklist.html

[jdmartin]

Thanks for the updates!

[eXpat]

$this->bbcode_second_pass_quote('jdmartin', 'T')hanks for the updates!

[Cloud9]

Still waiting on Su Trust to bite the dust.

[jdmartin]

That one in Kansas was a big ass bank. And they couldn't even find a buyer for the one in Arizona. Crazy.

[the48thronin]

$this->bbcode_second_pass_quote('jdmartin', 'T')hat one in Kansas was a big ass bank. And they couldn't even find a buyer for the one in Arizona. Crazy.

[eXpat]

BTW, there´s other bank that i didn´t mention that crashed on friday, is :
-First Arizona Savings, A FSB
so that´s 7 banks last Friday and a total of 139 this year.
http://www.fdic.gov/bank/individual/failed/banklist.html
Let me remind you that in 2009 there was a grand total of 140 bank failures, so we are obviously in the right track for recovery.

[mattduke]

This chart is a few weeks old.
http://www.ritholtz.com/blog/wp-content ... ures-2.gif