BFF=Bank Failure Friday 2010

[Johnnybags]

The pace quickens

Banks shut in Fla., Mo., NM, Ore., Wash.
Federal regulators shutter banks in Fla., Mo., NM, Ore., Wash., making 9 bank failures in 2010

 

[SevenEyedJeff]

They closed one bank in The Dalles, OR. That town is renowned for being the finishing point in the classic computer game "Oregon Trail".

 

[tmosley]

Must've gotten typhoid.

 

[bg1654]

You have Died Of Dysentery.

 

[surf]

Evergreen Bank - Seattle

http://seattletimes.nwsource.com/html/businesstechnology/2010867942_bank23.html

The FDIC also entered into a loss-sharing agreement with Umpqua covering $379.5 million of Evergreen's assets. While the terms of that agreement weren't immediately disclosed, typically they involve the FDIC covering 80 percent of losses up to a certain level and 95 percent beyond that.

Umpqua.... monopolizing the NW via the sword (FDIC)

 

[Sarge]

I remember a few years ago everyone was saying how great Evergreen Bank was. I stuck with our credit union.

Still 500 or so to go yet. 15 a month or so isn't going to cut it. They only close 150 this year and they will be over 500 again for next year and costing them more money.

That loss sharing is going to go up and up the longer they stall. Econ 101. No buyers, you pay more for those that have you by the you know what. Butter or guns. FDIC is asking for the butter.

 

[surf]

I remember a few years ago everyone was saying how great Evergreen Bank was. I stuck with our credit union.

Still 500 or so to go yet. 15 a month or so isn't going to cut it. They only close 150 this year and they will be over 500 again for next year and costing them more money.

That loss sharing is going to go up and up the longer they stall. Econ 101. No buyers, you pay more for those that have you by the you know what. Butter or guns. FDIC is asking for the butter.

what CU? many years ago i used to send these guys a few million $ each day to cover checks clearing for BECU. i served as the investment officer and cash flow manager at BECU and left (or should say i was let go ) primarily because i questioned their growing mortgage exposure and was very critical of the relationship Goldman had with my bosses.

btw - PEMCO used to own these guys. i interviewed w/PEMCO last year and they told me that they were distancing themselves as much as possible from their previous relationship w/Evergreen.

 

[Sarge]

We use Desert Schools Credit Union in Phoenix. Solid, smart and no problems over the 30 years we have used them.

When we sold our house to buy our condo, and we needed to park the money short term, they were so on the ball to split the money to have it all covered using different accounts. We have had car loans, remodeling loans, re finance loans and they were always on our side.

We have no debt and always paid our loans off fast. We are not into anymore loans now.

 

[Sarge]

It is that day again. 9 so far. How many this week. I think I saw where Sheila is throwing in the towel when here term is up. Then they will put another GS person in her place.

 

[HOLLYWOOD]

It is that day again. 9 so far. How many this week. I think I saw where Sheila is throwing in the towel when here term is up. Then they will put another GS person in her place.

Sheila is being well taken care of... She'll follow the footsteps of all the other cronies. $7 figure Salary for rewarding and maintaining the Masters.

Goldman Sachs officer to the FDIC chairman post? Well, the FDIC is still backing Goldman in $21 BILLION in loan guarantees. Goldman is still a Bank Holding company and they'll never give that up and the steep discount they get with the over night FED rates.

FDIC Over-Under: 6 banks / $1 Billion

kinda the avg.

 

[jclay2]

http://seattletimes.nwsource.com/html/businesstechnology/2010867942_bank23.html



Umpqua.... monopolizing the NW via the sword (FDIC)

For a second there , i thought that was this evergreen bank: https://www.evergreenbanking.com/default.htm

 

[ghengis86]

4 so far
13 for jan. 2010
6 for jan 2009

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

 

[Sarge]

Thank you for posting that. I have been so sick I have had to go to bed early.

Now the number is 6. That makes 15 Jan. 2010.

While at over 50 percent higher closings, that still isn't high enough to close over 500 banks this year. 15 a month would only be 150 in a year. They need to be closing 48 a month now.

 

[surf]

American Marine

American Marine becomes third state bank to close this year

3rd in the great state of Washington
http://seattletimes.nwsource.com/html/businesstechnology/2010932243_bank30.html

Those two trends — a shakeout of small, weak banks and their acquisition by larger, stronger rivals — seem certain to continue at least through the rest of 2010. The likely end result: A half-dozen or so Northwest regional banks of the sort that almost disappeared over the past two decades.

Columbia, which will have around $4.5 billion in assets after the American Marine deal and one for Columbia River Bank of The Dalles, Ore., last week, clearly aims to be among that group.

"I think there's a great niche for regional banks to play," said Melanie Dressel, chief executive of Columbia Banking System, Columbia State Bank's parent. She spoke in a phone interview Friday night while standing outside the American Marine headquarters on Bainbridge Island's Winslow Way.
...

 

[JVParkour]

Things arent looking good!

 

[Sarge]

My another week has passed. How many tomorrow.

I will be out early tomorrow to head downtown to dinner and then go see George Straight and Reba McEntire. If anyone can update tomorrow it would be appreciated.

 

[fatjohn]

!7!

 

[HOLLYWOOD]

$1.3 BILLION tomorrow

 

[SevenEyedJeff]

$1.3 BILLION tomorrow

Chump change. $1.3 Trillion then we're talkin.:o

 

[Sarge]

A few more hours and we will know who is on the list this week. They need to crank it up in Feb.