Bank Failure Friday
Sheila got an early start this week, normally the first failures happen after 6PM EST. #95 Failed bank: Georgian Bank, Atlanta GA Acquiring bank: First Citizens Bank & Trust Vitals: as of July...
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Later this evening, I'll have a post on stats for all failed banks since the beginning of 2007. In the meantime, we have our first failure of Q4: #96 Failed bank: Warren Bank, Warren MI Acquiring bank:...
View ArticleBank failure Friday, Bair on TBTF at Buttonwood
At Buttonwood, Sheila Bair noted that the DIF's balance, its net worth, is now negative. They have $20 billion+ of cash on hand, but much is accounted for by the fund's contingent loss reserve, which...
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#100….and counting (+ charts)
Another failure in Georgia. And two in Naples. #100 Failed bank: Partners Bank, Naples FL Acquiring bank: Stonegate Bank, Ft. Lauderdale FL Vitals: as of 9/30, assets of $66 million, deposits of $65m...
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As per usual, we begin in Georgia. The last one of the night is a big one. #116 Failed bank: United Security Bank, Sparta GA Acquiring bank: Ameris Bank, Moultrie GA Vitals: as of 9/14/09, assets of...
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IBERIABANK is busy tonight, acquiring $3.1 billion of failed bank assets. The bank also bought nearly $600m of assets from the estate of CapitalSouth Bank of Alabama back in August. After these...
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It was a slow night. One small bank failed. #124 Failed bank: Commerce Bank of SW FL, Fort Myers FL Acquiring bank: Central Bank, Stillwater MN Vitals: at 8/28, assets of $79.7m, deposits of $76.7m DIF...
View ArticleTonight’s bank failures: $14.5 billion combined assets
Wow....huge night....$14.5 billion in combined assets from tonight's failures. The biggest fish is First Fed, with $6.1 billion of assets. First Fed was the last of the big option ARM lenders. Seems...
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The year has started off slowly: Only 4 closings the first half of January. Expect FDIC to pick up the pace... #2 Failed bank: Town Community Bank & Trust, Antioch IL Acquiring bank: First American...
View ArticleBank failure Friday
#10 Failed bank: First National Bank of Georgia, Carrollton GA Acquiring bank: Community & Southern Bank, Carrollton GA Vitals: at 9/30/09, assets of $832.6m, deposits of $757.9m Estimated DIF...
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