BFF=Bank Failure Friday 2010

[Sarge]

FDIC system down until noon Monday. We might not know if they closed any banks until then. Otherwise they are likely dragging this out for next year.

 

[Sarge]

None last week. My guess is if they are going to close anymore banks this year it will be this week. Short Holiday weeks after that.

http://www.fdic.gov/bank/individual/failed/banklist.html

 

[Sarge]

PA and MI banks closed. I think that will be it for this year.

 

[Sarge]

Wow they just did it. Three banks so far,

http://www.fdic.gov/bank/individual/failed/banklist.html

I did not expect that the week before the Holidays.

That brings me to the interest only loans that are ready to blow up in their face. This is not over by a long shot.

 

[HOLLYWOOD]

FDIC Bank Failure Friday: Decemeber 17, 2010

Breakdown of the 6 failures:

FDICgov FDIC Gov

Southern Bank, Poplar Bluff, Missouri, Assumes All of the Deposits of First Southern Bank, Batesville, Arkansas:... http://bit.ly/hCAIlj

FDICgov FDIC Gov

Farmers & Merchants Savings Bank, Manchester, Iowa, Assumes All of the Deposits of Community National Bank, Lino, MN... http://bit.ly/hSqNky

FDICgov FDIC Gov

State Bank and Trust Company, Macon, Georgia, Assumes All of the Deposits of United Americas Bank, National Asso... http://bit.ly/eu7PUm

FDICgov FDIC Gov

1st United Bank, Boca Raton, Florida, Assumes All of the Deposits of the Bank of Miami, National Association, Co... http://bit.ly/g5AmFj

FDICgov FDIC Gov
Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the Deposits of Chestatee State Bank, Dawsonville, Geo... http://bit.ly/fJY6lG

FDICgov FDIC Gov

Peoples Bank of East Tennessee, Madisonville, Tennessee, Assumes All of the Deposits of Appalachian Community Bank... http://bit.ly/hadICs







Direct

 

[HOLLYWOOD]

FDIC auctioning Real Estate: but look closer... a percentage of the real estate (40% FDIC keeps 60%) and then the bids are a percentage of that value... nice trick Sheila Bair!

FDICgov FDIC Gov

FDIC Selects Cache Valley Bank as Winning Bidder for Equity Interest in $279 Million in Residential Acquisition [FONT=arial, helvetica, sans-serif] 22.22% [/FONT][FONT=arial, helvetica, sans-serif]of the unpaid principal balance.[/FONT].. http://bit.ly/euXxU2

FDICgov FDIC Gov

FDIC Selects Colony Capital, LLC as Winning Bidder for Equity Interest in $137 Million in Commercial Real Estate, [FONT=arial, helvetica, sans-serif]60.10% of the unpaid principal balance...[/FONT] http://bit.ly/hLc5e8

FDICgov FDIC Gov

FDIC Selects ColFin Milestone North Funding, LLC Winning Bidder for an Equity Interest in $204 Million in Commerical, [FONT=arial, helvetica, sans-serif]27.00% of the unpaid principal balance[/FONT]... http://bit.ly/gkuyNC

 

[Sarge]

Oh Noes, who would have guessed. The latest news is, that "100 already bailed out banks are slipping towards failure." according to the WSJ.

Let them fail. No second bailouts.

Enough is Enough on bailing out banks. Someone else can keep track of closings, if they wish, next year. Things are not getting better. My barber said his clients are not saying things are getting better. He hears from all walks and I quiz him each month. With the blizzard, look for some bad numbers coming right up. Lucky they got Christmas under their belt.

I think six months or less now and there will be no question how ugly it is going to be. I am watching for the jobs count now that the Holiday shopping is over. Wait for the bills to hit in Jan. Just my take.

 

[Todd]

Oh Noes, who would have guessed. The latest news is, that "100 already bailed out banks are slipping towards failure." according to the WSJ.

Let them fail. No second bailouts.

Enough is Enough on bailing out banks. Someone else can keep track of closings, if they wish, next year. Things are not getting better. My barber said his clients are not saying things are getting better. He hears from all walks and I quiz him each month. With the blizzard, look for some bad numbers coming right up. Lucky they got Christmas under their belt.

I think six months or less now and there will be no question how ugly it is going to be. I am watching for the jobs count now that the Holiday shopping is over. Wait for the bills to hit in Jan. Just my take.

Just saw that.

http://blacklistednews.com/Rescued-Banks-Teeter-Towards-Collapse-/12060/0/13/13/Y/M.html

 

[HOLLYWOOD]

Total Cost imposed on bank patrons for these 2 seized banks: $105 Million

FDICgov FDIC Gov



Enterprise Bank & Trust, St. Louis, Missouri, Assumes All of the Deposits of Legacy Bank, Scottsdale, Arizona: ... http://bit.ly/fov1HW

7 Jan http://twitter.com/#http://twitter.com/#



»

FDICgov FDIC Gov



First Southern Bank, Boca Raton, Florida, Assumes All of the Deposits of First Commercial Bank of Florida, Orlando, Florida... http://bit.ly/dOP2Ss

 

[cindy25]

http://www.fdic.gov/bank/individual/failed/banklist.html

4 more today, and one last week

unusual case is Enterprise, no buyer-you get 1 week to get your money

 

[HOLLYWOOD]

http://www.fdic.gov/bank/individual/failed/banklist.html

4 more today, and one last week

unusual case is Enterprise, no buyer-you get 1 week to get your money

Immediate hit to the FDIC's DIF for the 5 banks is $535.3 million. This doesn't include all losses in the "[FONT=arial, helvetica, sans-serif]loss-share transaction" agreement between the FDIC and the acquiring banks. So much of the other losses will be written off against net incomes, tax credits, subsidies.

I say these 5 will cost the taxpayers(in the long run) at least a $1 billion when said and done.
[/FONT]

 

[HOLLYWOOD]

4 Banks so far on BFF: Total losses immediately assumed by the FDIC, $545.5 Million

FDICgov FDIC Gov
U.S. Bank, National Association, Minneapolis, Minnesota, Assumes All of the Deposits of First Community Bank, Ta... http://bit.ly/fG3Pd5

1 minutes ago
[FONT=arial, helvetica, sans-serif]The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $260.0 million.[/FONT]

FDICgov FDIC Gov
FDIC Creates the Deposit Insurance National Bank of Louisville to Protect Insured Depositors of FirsTier Bank, L... http://bit.ly/f0H2Ne

21 minutes ago
T[FONT=arial, helvetica, sans-serif]he FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $242.6 million[/FONT]

FDICgov FDIC Gov
McFarland State Bank, McFarland, Wisconsin, Assumes All of the Deposits of Evergreen State Bank, Stoughton, Wisc... http://bit.ly/hAquGP

1 hour ago
[FONT=arial, helvetica, sans-serif]The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $22.8 million. [/FONT]

FDICgov FDIC Gov
Bank 7, Oklahoma City, Oklahoma, Assumes All of the Deposits of the First State Bank, Camargo, Oklahoma: Pres... http://bit.ly/h54veo

3 hours ago
[FONT=arial, helvetica, sans-serif]The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.1 million.[/FONT]

 

[HOLLYWOOD]

FDICgov FDIC Gov
Bank of Marin, Novato, California, Assumes All of the Deposits of Charter Oak Bank, Napa, California: Press R... http://bit.ly/fPf1wR

[FONT=arial, helvetica, sans-serif]The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be[/FONT][FONT=arial, helvetica, sans-serif]$21.8[/FONT][FONT=arial, helvetica, sans-serif] million. [/FONT]

FDICgov FDIC Gov
HeritageBank of the South, Albany, Georgia, Assumes All of the Deposits of Citizens Bank of Effingham, Springfield... http://bit.ly/giHCq1

[FONT=arial, helvetica, sans-serif]The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be[/FONT][FONT=arial, helvetica, sans-serif] $59.4[/FONT][FONT=arial, helvetica, sans-serif] million.

[/FONT]

SCBT National Association, Orangeburg, South Carolina, Assumes All of the Deposits of Habersham Bank, Clarkesville... http://bit.ly/g73WT0

FDICgov FDIC Gov [FONT=arial, helvetica, sans-serif]
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be [/FONT][FONT=arial, helvetica, sans-serif]$90.3[/FONT][FONT=arial, helvetica, sans-serif] million.


[/FONT]

FDICgov FDIC Gov

First California Bank, Westlake Village, California, Assumes All of the Deposits of San Luis Trust Bank, FSB, Sa... http://bit.ly/huR3nO

[FONT=arial, helvetica, sans-serif]The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be[/FONT][FONT=arial, helvetica, sans-serif] $[/FONT][FONT=arial, helvetica, sans-serif]96.1[/FONT][FONT=arial, helvetica, sans-serif] million.

FAILED BANKS LIST: http://www.fdic.gov/bank/individual/failed/banklist.html
[/FONT]

 

[surf]

8 total today
San Luis Trust Bank, FSB San Luis Obispo CA 34783 First California Bank February 18, 2011 February 18, 2011
Charter Oak Bank Napa CA 57855 Bank of Marin February 18, 2011 February 18, 2011
Citizens Bank of Effingham Springfield GA 34601 Heritage Bank of the South February 18, 2011 February 18, 2011
Habersham Bank Clarkesville GA 151 SCBT National Association February 18, 2011 February 18, 2011
Canyon National Bank Palm Springs CA 34692 Pacific Premier Bank February 11, 2011 February 18, 2011
Badger State Bank Cassville WI 13272 Royal Bank February 11, 2011 February 18, 2011
Peoples State Bank Hamtramck MI 14939 First Michigan Bank February 11, 2011 February 18, 2011
Sunshine State Community Bank Port Orange FL 35478 Premier American Bank, N.A. February 11, 2011 February 18, 2011

edit: am i using a differnet site than hollywood?
http://www.fdic.gov/bank/individual/failed/banklist.html

 

[Zippyjuan]

You seem to be looking at the "updated" date and not the actual "closed" date. Take for example the bottom one on your list. It was closed on February 11th and they updated information on it on the 18th. It was closed on the 11th, not the 18th. By the "closing date" there were four this week- not eight.

 

[messana]

Is it that time already?

5 banks down this week.

0 banks last week.

6 banks down two weeks before...

 

[UWDude]

55 banks closed this week so far.

(edit.. LOL... THIS YEAR!!!)

 

[Zippyjuan]

Halfway through the year. Last year they had a total of 157 and as of July 24th, 2010 they were over 100 so the pace seems to have definately slowed. http://247wallst.com/2010/07/24/us-bank-closures-hit-103-compared-with-64-last-year/ By the end of July 2009 they were up to 69. http://www.marketwatch.com/story/four-bank-closures-bring-2009-tally-to-68-2009-07-31

 

[HOLLYWOOD]

6 more banks

FDICgov FDIC Gov
Bank of Choice Greeley CO 2994 Bank Midwest, N.A. July 22, 2011

FDICgov FDIC Gov
LandMark Bank of Florida Sarasota FL 35244 American Momentum Bank July 22, 2011

FDICgov FDIC Gov
Southshore Community Bank Apollo Beach FL 58056 American Momentum Bank July 22, 2011

FDICgov FDIC Gov
Old National Bank, Evansville, Indiana, Assumes All of the Deposits of Integra Bank, National Association, Ev... http://1.usa.gov/rnd1IF 29 Jul

FDICgov FDIC Gov
SCBT, National Association, Orangeburg, South Carolina, Assumes All of the Deposits of BankMeridian, N.A., Co... http://1.usa.gov/oRzAMY 29 Jul

FDICgov FDIC Gov
Xenith Bank, Richmond, Virginia, Assumes All of the Deposits of Virginia Business Bank, Richmond, Virginia: ... http://1.usa.gov/n1tm6C

 

[Benjam]

Today, the First National Bank of Olathe was taken over by Enterprise Banks and Trust of Clayton.

Recently, FNBO had sold many branches to Metcalf Bank.