fatjohn
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Indeed they were, nonetheless was the number right, four it is now.
BFF=Bank Failure Friday 2010
- Thread starter Sarge
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Indeed they were, nonetheless was the number right, four it is now.
bobbyw24
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FDIC Adds 73 Banks to Troubled Watch List
The number of insured financial institutions on the FDIC’s so-called “problem list” has risen to 775, up from 702 at the end of 2009. The total assets of problem banks have increased from $403 billion at the close of last year to $431 billion.
The FDIC says both the number and assets of problem institutions are the highest they’ve been since June 30, 1993, when they hit 793 and $467 billion, respectively. But the agency also pointed out that the latest increase in the number of problem banks is the smallest in four quarters.
The number of banks under the FDIC’s watchful eye has grown significantly since the housing crisis and recession took hold. In the fourth quarter of 2007, just 76 financial institutions were on the list, and a year ago, the number was 305.
Just which banks the federal agency considers to be at risk of collapse is shrouded in secrecy. The FDIC will not release the names of those on its “problem list” for fear that the stigma attached would cause a run on those banks, and the agency notes that a “vast majority” are able to get back on their feet.
So far this year, 72 insured banks have gone under, well on pace to surpass last year’s total of 140. By comparison, in 2008, The FDIC seized control of 25 banks. In 2007, there were only three failures.
http://www.dsnews.com/articles/fdic-adds-73-banks-to-troubled-watch-list-2010-05-20
The number of insured financial institutions on the FDIC’s so-called “problem list” has risen to 775, up from 702 at the end of 2009. The total assets of problem banks have increased from $403 billion at the close of last year to $431 billion.
The FDIC says both the number and assets of problem institutions are the highest they’ve been since June 30, 1993, when they hit 793 and $467 billion, respectively. But the agency also pointed out that the latest increase in the number of problem banks is the smallest in four quarters.
The number of banks under the FDIC’s watchful eye has grown significantly since the housing crisis and recession took hold. In the fourth quarter of 2007, just 76 financial institutions were on the list, and a year ago, the number was 305.
Just which banks the federal agency considers to be at risk of collapse is shrouded in secrecy. The FDIC will not release the names of those on its “problem list” for fear that the stigma attached would cause a run on those banks, and the agency notes that a “vast majority” are able to get back on their feet.
So far this year, 72 insured banks have gone under, well on pace to surpass last year’s total of 140. By comparison, in 2008, The FDIC seized control of 25 banks. In 2007, there were only three failures.
http://www.dsnews.com/articles/fdic-adds-73-banks-to-troubled-watch-list-2010-05-20
HOLLYWOOD
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It's all about consolidation so the master banks control more... systemic protection policies. $100 Billion needed to cover losses from smaller banks
More banks are troubled even as industry recovers
[h4]Alan Zibel / Associated Press[/h4]
Washington -- The government says the number of troubled banks
kept growing last quarter even as the industry as a whole had its best quarter in two years.
The Federal Deposit Insurance Corp. said Thursday that the number of banks on its confidential "problem" list leaped to 775 from 702 in the January-March period. But banks overall posted net income of $18 billion. That was up from $5.6 billion in the same quarter a year earlier.
"The banking system still has many problems to work through, and we cannot ignore the possibility of more financial market volatility," FDIC Chairman Sheila Bair acknowledged. But, she added, "The trends continue to move in the right direction."
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The largest banks showed the most improvement. But a majority of institutions posted gains in net income.
In another sign of health, the FDIC's deposit insurance fund, which fell into the red last fall, posted its first improvement in two years. Its deficit shrank by $145 million to $20.7 billion. The FDIC said it expects U.S. bank failures to cost the insurance fund around $100 billion through 2013.
From The Detroit News: http://www.detnews.com/article/2010...ubled-even-as-industry-recovers#ixzz0oaYtXtqX
More banks are troubled even as industry recovers
[h4]Alan Zibel / Associated Press[/h4]
Washington -- The government says the number of troubled banks
kept growing last quarter even as the industry as a whole had its best quarter in two years. The Federal Deposit Insurance Corp
. said Thursday that the number of banks on its confidential "problem" list leaped to 775 from 702 in the January-March period. But banks overall posted net income of $18 billion. That was up from $5.6 billion in the same quarter a year earlier. "The banking system still has many problems to work through, and we cannot ignore the possibility of more financial market volatility," FDIC Chairman Sheila Bair acknowledged. But, she added, "The trends continue to move in the right direction."
Advertisement
The largest banks showed the most improvement. But a majority of institutions posted gains in net income.
In another sign of health, the FDIC's deposit insurance fund, which fell into the red last fall, posted its first improvement in two years. Its deficit shrank by $145 million to $20.7 billion. The FDIC said it expects U.S. bank failures to cost the insurance fund around $100 billion through 2013.
From The Detroit News: http://www.detnews.com/article/2010...ubled-even-as-industry-recovers#ixzz0oaYtXtqX
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HOLLYWOOD
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Obama-tied ShoreBank may escape FDIC closure
http://www.cdobs.com/archive/syndicated/obama-tied-shorebank-may-escape-fdic-closure/
IR 21 May 2010 No Comment
[This article was syndicated via RSS from Illinois Review. The views represented do not necessarily represent those of the Chicago Daily Observer.]
The Wall Street Journal reports 775 banks are on the Federal Deposit Insurance Corp's list of "problem" institutions. This year alone, the FDIC has taken over 72 that have failed, including U.S. Senate candidate Alexi Giannoulias' family's Broadway Bank. Bad loans and poor loan performance are the main culprits to these bank failures, a Journal story says today.
But despise all this bad news for the banking industry, there's one particular endangered bank in Chicago -- ShoreBank -- that appears could survive fatality, although it's been facing FDIC pressure. Coincidentally, that Shore Bank has ties to Barack Obama, Bill Clinton, Jeremiah Wright, and other Chicago Democratic notables.
For some strange reason, WSJ reports Goldman-Sachs CEO Lloyd Blankfein was personally making fund-raising calls to other banking executive, hoping to raise $125 million for ShoreBank Corp. With $20 million from Goldman-Sachs the goal was reached earlier this week. They're hoping to get an additional $75 million from federal bailout funds.
Don't you wonder what Alexi's thinking?
Anyway, U.S. Rep. Judy Biggert and Darrel Issa, Republican members of the U.S. House Banking Committee queried the White House as to whether they pressured to save ShoreBank.
"No, of course not," was the White House's reply.
http://www.cdobs.com/archive/syndicated/obama-tied-shorebank-may-escape-fdic-closure/
IR 21 May 2010 No Comment
[This article was syndicated via RSS from Illinois Review. The views represented do not necessarily represent those of the Chicago Daily Observer.]
The Wall Street Journal reports 775 banks are on the Federal Deposit Insurance Corp's list of "problem" institutions. This year alone, the FDIC has taken over 72 that have failed, including U.S. Senate candidate Alexi Giannoulias' family's Broadway Bank. Bad loans and poor loan performance are the main culprits to these bank failures, a Journal story says today.
But despise all this bad news for the banking industry, there's one particular endangered bank in Chicago -- ShoreBank -- that appears could survive fatality, although it's been facing FDIC pressure. Coincidentally, that Shore Bank has ties to Barack Obama, Bill Clinton, Jeremiah Wright, and other Chicago Democratic notables.
For some strange reason, WSJ reports Goldman-Sachs CEO Lloyd Blankfein was personally making fund-raising calls to other banking executive, hoping to raise $125 million for ShoreBank Corp. With $20 million from Goldman-Sachs the goal was reached earlier this week. They're hoping to get an additional $75 million from federal bailout funds.
Don't you wonder what Alexi's thinking?
Anyway, U.S. Rep. Judy Biggert and Darrel Issa, Republican members of the U.S. House Banking Committee queried the White House as to whether they pressured to save ShoreBank.
"No, of course not," was the White House's reply.
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surf
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3 so far: Bank of Florida - Tampa, Bank of Florida - SE, Bank of Florida - SW
http://www.fdic.gov/bank/individual/failed/banklist.html
http://www.fdic.gov/bank/individual/failed/banklist.html
HOLLYWOOD
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http://www.sacbee.com/2010/05/28/2784699/granite-community-bank-seized.html
Granite Community Bank seized by regulators
By Charles Piller
[email protected]
Published: Friday, May. 28, 2010 - 7:40 pm
Federal regulators seized Granite Community Bank on Friday, the first bank failure in the immediate Sacramento area amid the current economic crisis.
Tri Counties Bank of Chico assumed all of the bank's deposits at close of business and federal regulators assured depositors they would not lose money or access to their funds.
In fact, customers can use ATM or debit cards and checks normally over the weekend, the regulators said in a release. By the same token, their loan payments must continue to be made as they come due.
Deposits of up $250,000 are backed by the Federal Deposit Insurance Corp. Above $250,000, deposits will be made available on demand, according to terms of the agreement with Tri Counties.
Granite's three branches - in Granite Bay, Auburn and Roseville - will open on Tuesday morning as branches of Tri Counties and will continue to operate until further notice, according to the FDIC.
In February, The Bee reported that Granite Community Bank faced a serious shortfall in capital to cover a rapidly mounting total of bad loans - and was at grave risk of seizure. The bank lost about $5.5 million last year and had been trying to raise additional capital from investors when the government stepped in.
Mounting defaults by both residential and commercial borrowers, unable to keep up with payments during the housing bust and recession, became too much for the bank.
Granite Community was the only bank based in Granite Bay, although others have branch offices there.
Granite Community Bank seized by regulators
By Charles Piller
[email protected]
Published: Friday, May. 28, 2010 - 7:40 pm
Federal regulators seized Granite Community Bank on Friday, the first bank failure in the immediate Sacramento area amid the current economic crisis.
Tri Counties Bank of Chico assumed all of the bank's deposits at close of business and federal regulators assured depositors they would not lose money or access to their funds.
In fact, customers can use ATM or debit cards and checks normally over the weekend, the regulators said in a release. By the same token, their loan payments must continue to be made as they come due.
Deposits of up $250,000 are backed by the Federal Deposit Insurance Corp. Above $250,000, deposits will be made available on demand, according to terms of the agreement with Tri Counties.
Granite's three branches - in Granite Bay, Auburn and Roseville - will open on Tuesday morning as branches of Tri Counties and will continue to operate until further notice, according to the FDIC.
In February, The Bee reported that Granite Community Bank faced a serious shortfall in capital to cover a rapidly mounting total of bad loans - and was at grave risk of seizure. The bank lost about $5.5 million last year and had been trying to raise additional capital from investors when the government stepped in.
Mounting defaults by both residential and commercial borrowers, unable to keep up with payments during the housing bust and recession, became too much for the bank.
Granite Community was the only bank based in Granite Bay, although others have branch offices there.
HOLLYWOOD
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surf
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3 so far with the West Coast yet to report http://www.fdic.gov/bank/individual/failed/banklist.html
Zippyjuan
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I was looking for a month by month chart but didnt' find one. Going by the FDIC list, this is the month by month counts:
Jan 2009 6
Feb 2009 10
Mar 2009 5
Apr 2009 8
May 2009 7
Jun 2009 9
July 2009 24 (busy month!)
Aug 2009 15
Sep 2009 11
Oct 2009 20
Nov 2009 9
Dec 2009 16
Jan 2010 15
Feb 2010 7
Mar 2010 15
Apr 2010 23 (another big month)
May 2010 14
Just looking for a trend. Not seeing much yet.
http://www.fdic.gov/bank/individual/failed/banklist.html
Jan 2009 6
Feb 2009 10
Mar 2009 5
Apr 2009 8
May 2009 7
Jun 2009 9
July 2009 24 (busy month!)
Aug 2009 15
Sep 2009 11
Oct 2009 20
Nov 2009 9
Dec 2009 16
Jan 2010 15
Feb 2010 7
Mar 2010 15
Apr 2010 23 (another big month)
May 2010 14
Just looking for a trend. Not seeing much yet.
http://www.fdic.gov/bank/individual/failed/banklist.html
HOLLYWOOD
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Nevada Security Bank Reno NV 57110 June 18, 2010 June 18, 2010
One Bank failure this Friday... cost the FDIC $81 million
http://www.usatoday.com/money/industries/banking/2010-06-19-bank-failure-pace-tops-2009_N.htm
Bank failure is 83rd in '10; pace more than double last year's
Stacks of dollar bills pass through a machine at the Bureau of Engraving and Printing in this file photo.
WASHINGTON (AP) — Regulators on Friday shut down a Nevada bank, raising to 83 the number of U.S. bank failures this year.
The 83 closures so far this year is more than double the pace set in all of 2009, which was itself a brisk year for shutdowns. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks' losses mount on loans made for commercial property and development.
The Federal Deposit Insurance Corp. took over Nevada Security Bank, based in Reno, with $480.3 million in assets and $479.8 million in deposits. Umpqua Bank, based in Roseburg, Ore., agreed to assume the assets and deposits of the failed bank.
RECOVERY WATCH: Tracking the economy; see VIDEO
JOBS OUTLOOK: Latest data for all states, 384 metros
The failure of Nevada Security Bank is expected to cost the deposit insurance fund $80.9 million.
In addition, the FDIC and Umpqua Bank agreed to share losses on $368.2 million of Nevada Security Bank's loans and other assets.
The number of bank failures is expected to peak this year and be slightly higher than the 140 that fell in 2009. That was the highest annual tally since 1992, at the height of the savings and loan crisis. The 2009 failures cost the insurance fund more than $30 billion. Twenty-five banks failed in 2008, the year the financial crisis struck with force, and only three succumbed in 2007.
As losses have mounted on loans made for commercial property and development, the growing bank failures have sapped billions of dollars out of the deposit insurance fund. It fell into the red last year, and its deficit stood at $20.7 billion as of March 31.
The number of banks on the FDIC's confidential "problem" list jumped to 775 in the first quarter from 702 three months earlier, even as the industry as a whole had its best quarter in two years.
A majority of institutions posted profit gains in the January-March quarter. But many small and midsized banks are likely to continue to suffer distress in the coming months and years, especially from soured loans for office buildings and development projects.
The FDIC expects the cost of resolving failed banks to grow to about $100 billion over the next four years.
The agency mandated last year that banks prepay about $45 billion in premiums, for 2010 through 2012, to replenish the insurance fund.
One Bank failure this Friday... cost the FDIC $81 million
http://www.usatoday.com/money/industries/banking/2010-06-19-bank-failure-pace-tops-2009_N.htm
Bank failure is 83rd in '10; pace more than double last year's
WASHINGTON (AP) — Regulators on Friday shut down a Nevada bank, raising to 83 the number of U.S. bank failures this year.
The 83 closures so far this year is more than double the pace set in all of 2009, which was itself a brisk year for shutdowns. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks' losses mount on loans made for commercial property and development.
The Federal Deposit Insurance Corp. took over Nevada Security Bank, based in Reno, with $480.3 million in assets and $479.8 million in deposits. Umpqua Bank, based in Roseburg, Ore., agreed to assume the assets and deposits of the failed bank.
RECOVERY WATCH: Tracking the economy; see VIDEO
JOBS OUTLOOK: Latest data for all states, 384 metros
The failure of Nevada Security Bank is expected to cost the deposit insurance fund $80.9 million.
In addition, the FDIC and Umpqua Bank agreed to share losses on $368.2 million of Nevada Security Bank's loans and other assets.
The number of bank failures is expected to peak this year and be slightly higher than the 140 that fell in 2009. That was the highest annual tally since 1992, at the height of the savings and loan crisis. The 2009 failures cost the insurance fund more than $30 billion. Twenty-five banks failed in 2008, the year the financial crisis struck with force, and only three succumbed in 2007.
As losses have mounted on loans made for commercial property and development, the growing bank failures have sapped billions of dollars out of the deposit insurance fund. It fell into the red last year, and its deficit stood at $20.7 billion as of March 31.
The number of banks on the FDIC's confidential "problem" list jumped to 775 in the first quarter from 702 three months earlier, even as the industry as a whole had its best quarter in two years.
A majority of institutions posted profit gains in the January-March quarter. But many small and midsized banks are likely to continue to suffer distress in the coming months and years, especially from soured loans for office buildings and development projects.
The FDIC expects the cost of resolving failed banks to grow to about $100 billion over the next four years.
The agency mandated last year that banks prepay about $45 billion in premiums, for 2010 through 2012, to replenish the insurance fund.
Last edited:
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