Post Tagged with: "FDIC"
Guaranty is bankrupt: BBVA gets its FDIC-seized assets
It’s official: Guaranty Bank is the second-largest bank seized by the FDIC in 2009. BBVA, through its American subsidiary Compass, is increasing its profile in the US. And now it can do so, not only through merger, but through FDIC asset seizure too. Here is the announcement that was leaked just yesterday: Guaranty Bank, Austin,
Many more FDIC Friday night specials tonight
I count three already. Here they are: ebank, Atlanta, GA Stearns Bank, National Association, St. Cloud, Minnesota, Assumes All of the Deposits of ebank Atlanta, Georgia CapitalSouth Bank, Birmingham, Alabama IBERIABANK, Lafayette, Louisiana, Assumes All of the Deposits of CapitalSouth Bank, Birmingham, Alabama First Coweta, Newnan, Georgia United Bank, Zebulon, Georgia, Assumes All of the
Five banks seized in FDIC Friday night special
Here are the latest FDIC seizures: First State Bank of Altus, Altus, Oklahoma Total assets of $103.4 million and deposits of approximately $98.2 million Estimated cost to the Deposit Insurance Fund (DIF): $25.2 million. Integrity Bank, Jupiter, Florida Total assets of $119 million and total deposits of approximately $102 million. Stonegate Bank paid a premium
Seven more bank failures brings total to 64
In truth this is really two failures, but one had six subsidiaries so it counts as seven. Here are the failures: The first bank is in New York. Waterford Village Bank, Clarence, New York, was closed by the New York State Banking Department, with the Federal Deposit Insurance Corporation (FDIC) as receiver. Evans Bank, N.A.,
FDIC Bank seizures 56 and 57
These two seizures are going to be costly. The first one here, Vineyard Bank in California is going to cost the taxpayer an estimated $579 million. The second, Temecula Valley Bank in North Carolina, is estimated to cost $391 million. Here’s the first press release. Vineyard Bank, National Association, Rancho Cucamonga, California, was closed today
Two more FDIC Friday Night Specials brings total to 55 failed banks
The first bank failure is in Georgia, a state where many FDIC seizures have taken place. On Friday, July 17, 2009, First Piedmont Bank, Winder, GA was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. First Piedmont had $115 million in deposits. The cost
Independence Weekend Massacre: 7 banks seized
Wow. The Feds sure know how to celebrate Independence Day. I went out for a couple of hours and four more banks were seized bringing the grand total to seven for the day and 52 on the year. Here are all the FDIC seizures for today. Six were in Illinois and one in Texas. First
Failed bank 48: Rock River Bank
This is the press release from the FDIC. Deposits of only $75 million. Small banks are seized, big banks get bailed out, of course. Rock River Bank, Oregon, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To
Here’s bank failure 47: First State Bank of Winchester
Another tiny little bank. Deposits of $34 million. The First State Bank of Winchester, Winchester, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with
FDIC Thursday Night Special? John Warner Bank
This is number 46 this year. Very small. Why not wait? Holiday weekend? The John Warner Bank, Clinton, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and
FDIC Friday Night Special: First National Bank of Anthony
This is number 40 (earlier the headline read First National Bank of Kansas, but has since been corrected). First National Bank of Anthony, Anthony, Kansas was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into
FDIC Friday Night Specials: Cooperative of NC and Southern Community of GA
Here are the press releases (emphasis added). This makes 39 institutions this year. First, Cooperative: Cooperative Bank, Wilmington, North Carolina was closed today by the North Carolina Office of Commissioner of Banks, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement