by Calculated Risk on 7/09/2010 05:10:00 PM
Friday, July 09, 2010
Bank Failure #88: Ideal Federal Savings Bank, Baltimore, Maryland
Ideal Federal... whoosh
A trifecta miss : - (
by Soylent Green is People
From the FDIC: FDIC Approves the Payout of the Insured Deposits of Ideal Federal Savings Bank, Baltimore, Maryland
As of March 31, 2010, Ideal Federal Savings Bank had approximately $6.3 million in total assets and $5.8 million in total deposits.Pretty small. Not ideal.
...
he cost to the FDIC's Deposit Insurance Fund is estimated to be $2.1 million. Ideal Federal Savings Bank is the 88th FDIC-insured institution to fail in the nation this year, and the third in Maryland. The last FDIC-insured institution closed in the state was Bay National Bank, Baltimore, earlier today.
Bank Failure #87: Bay National Bank, Baltimore, Maryland
by Calculated Risk on 7/09/2010 04:36:00 PM
From the FDIC: Bay Bank, FSB, Lutherville, Maryland, Assumes all of the Deposits of Bay National Bank, Baltimore, Maryland
As of March 31, 2010, Bay National Bank had approximately $282.2 million in total assets and $276.1 million in total deposits.A quick start ...
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $17.4 million. .. Bay National Bank is the 87th FDIC-insured institution to fail in the nation this year, and the second in Maryland. The last FDIC-insured institution closed in the state was Waterfield Bank, Germantown, on March 5, 2010.
Friday, June 25, 2010
Bank Failure #86: High Desert State Bank, Albuquerque, New Mexico
by Calculated Risk on 6/25/2010 07:04:00 PM
Road running deposits flee
Wiley banker struck
by Soylent Green is People
From the FDIC: First American Bank, Artesia, New Mexico, Assumes All of the Deposits of High Desert State Bank, Albuquerque, New Mexico
As of March 31, 2010, High Desert State Bank had approximately $80.3 million in total assets and $81.0 million in total deposits. ...That makes three today ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.9 million. ... High Desert State Bank is the 86th FDIC-insured institution to fail in the nation this year, and the second in New Mexico. The last FDIC-insured institution closed in the state was Charter Bank, Santa Fe, on January 22, 2010.
Bank Failures #84 & #85: Florida and Georgia
by Calculated Risk on 6/25/2010 06:24:00 PM
Ringed on three sides by water
Way out blocked by Feds
Savannah shut down
Sheila's Summer season starts
Sad situation.
by Soylent Green is People
From the FDIC: Premier American Bank, Miami, Florida, Assumes All of the Deposits of Peninsula Bank, Englewood, Florida
As of March 31, 2010, Peninsula Bank had approximately $644.3 million in total assets and $580.1 million in total deposits. ...From the FDIC: The Savannah Bank, National Association, Savannah, Georgia, Assumes All of the Deposits of First National Bank Savannah, Georgia
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $194.8 million. Compared to other alternatives, ... Peninsula Bank is the 84th FDIC-insured institution to fail in the nation this year, and the fourteenth in Florida. The last FDIC-insured institution closed in the state was Bank of Florida – Southwest, Naples, on May 28, 2010.
As of March 31, 2010, First National Bank had approximately $252.5 million in total assets and $231.9 million in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $68.9 million. Compared to other alternatives, ... First National Bank is the 85th FDIC-insured institution to fail in the nation this year, and the ninth in Georgia. The last FDIC-insured institution closed in the state was Satilla Community Bank, Saint Marys, on May 14, 2010.
Friday, June 18, 2010
Bank Failure #83: Nevada Security Bank, Reno, Nevada
by Calculated Risk on 6/18/2010 09:10:00 PM
Silver State institution
Sugar-coat veneer
by Soylent Green is People
From the FDIC: Umpqua Bank, Roseburg, Oregon, Assumes All of the Deposits of Nevada Security Bank, Reno, Nevada
As of March 31, 2010, Nevada Security Bank had approximately $480.3 million in total assets and $479.8 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $80.9 million. ... Nevada Security Bank is the 83rd FDIC-insured institution to fail in the nation this year, and the third in Nevada. The last FDIC-insured institution closed in the state was Sun West Bank, Las Vegas, on May 28, 2010.Friday wasn't cancelled ...
Friday, June 11, 2010
Bank Failure #82: Washington First International Bank, Seattle, WA
by Calculated Risk on 6/11/2010 08:11:00 PM
Sucked up TARP funds like sponges
Wrung dry by losses
by Soylent Green is People
From the FDIC: East West Bank, Pasadena, California, Assumes All of the Deposits of Washington First International Bank, Seattle, Washington
As of March 31, 2010, Washington First International Bank had approximately $520.9 million in total assets and $441.4 million in total deposits. ...It wouldn't be Friday without a bank failure ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $158.4 million. .... Washington First International Bank is the 82nd FDIC-insured institution to fail in the nation this year, and the seventh in Washington. The last FDIC-insured institution closed in the state was Frontier Bank, Everett, on April 30, 2010.
Friday, June 04, 2010
Bank Failure #81: TierOne Bank, Lincoln, Nebraska
by Calculated Risk on 6/04/2010 07:06:00 PM
How have the mighty fallen.
Free falling from peak.
by Soylent Green is People
From the FDIC: Great Western Bank, Sioux Falls, South Dakota, Assumes All of the Deposits of TierOne Bank, Lincoln, Nebraska
As of March 31, 2010, TierOne Bank had approximately $2.8 billion in total assets and and $2.2 billion in total deposits. ...I guess they weren't top tier ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $297.8 million. ... TierOne Bank is the 81st FDIC-insured institution to fail in the nation this year, and the first in Nebraska. The last FDIC-insured institution closed in the state was Sherman County Bank, Loup City, on February 13, 2009.
Bank Failure #80: Arcola Homestead Savings Bank, Arcola, Illinois
by Calculated Risk on 6/04/2010 06:08:00 PM
From the FDIC: FDIC Approves the Payout of the Insured Deposits of Arcola Homestead Savings Bank, Arcola, Illinois
The FDIC was unable to find another financial institution to take over the banking operations of Arcola Homestead Savings Bank....No one wanted this one ...
As of March 31, 2010, Arcola Homestead Savings Bank had approximately $17.0 million in total assets and $18.1 million in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.2 million. Arcola Homestead Savings Bank is the 80th FDIC-insured institution to fail in the nation this year, and the twelfth in Illinois. The last FDIC-insured institution closed in the state was Midwest Bank and Trust Company, Elmwood Park, on May 14, 2010.
Bank Failure #79: First National Bank, Rosedale, Mississippi
by Calculated Risk on 6/04/2010 05:02:00 PM
From the FDIC: The Jefferson Bank, Fayette, Mississippi, Assumes All of the Deposits of First National Bank, Rosedale, Mississippi
As of March 31, 2010, First National Bank had approximately $60.4 million in total assets and $63.5 million in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $12.6 million. ... First National Bank is the 79th FDIC-insured institution to fail in the nation this year, and the first in Mississippi. The last FDIC-insured institution closed in the state was Bank of Falkner, Falkner, on September 29, 2000.
Saturday, May 29, 2010
Bank Failures per Week
by Calculated Risk on 5/29/2010 09:41:00 PM
I haven't updated this graph for some time ...
There have been 246 bank failures in this cycle (starting in 2007):
FDIC Bank Failures by Year | 2007 | 3 |
---|---|
2008 | 25 |
2009 | 140 |
2010 | 78 |
Total | 246 |
Click on graph for larger image in new window.
This graph shows bank failures by week in 2008, 2009 and 2010.
The 140 bank failures last year was the highest total since 1992 (181 bank failures).
As the previous post noted, banks are being added to the unofficial problem bank list much faster than they are being removed ... and it looks like there will be something close to 200 failures this year. That is more than in 1992, but probably less than the 271 in 1991. Bank failures peaked at 534 in 1989 during the S&L crisis.
Friday, May 28, 2010
Bank Failure #78: Sun West Bank, Las Vegas, Nevada
by Calculated Risk on 5/28/2010 09:09:00 PM
Crepuscular Sun West Bank
Radiant, now dark
by Soylent Green is People
From the FDIC: City National Bank, Los Angeles, California, Assumes All of the Deposits of Sun West Bank, Las Vegas, Nevada
Sun West Bank, Las Vegas, Nevada, was closed today by the Nevada Financial Institutions Division, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...That makes five today ...
As of March 31, 2010, Sun West Bank had approximately $360.7 million in total assets and $353.9 million in total deposits....
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $96.7 million. ... Sun West Bank is the 78th FDIC-insured institution to fail in the nation this year, and the second in Nevada. The last FDIC-insured institution closed in the state was Carson River Community Bank, Carson City, on February 26, 2010.
Bank Failure #77: Granite Community Bank, N.A., Granite Bay, California
by Calculated Risk on 5/28/2010 08:13:00 PM
Reinflating Granite Bank
Too much crushing debt.
by Soylent Green is People
From the FDIC:
Granite Community Bank, N.A., Granite Bay, California, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...Financed too many granite countertops?
As of March 31, 2010, Granite Community Bank, N.A. had approximately $102.9 million in total assets and $94.2 million in total deposits....
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $17.3 million. ... Granite Community Bank, N.A. is the 77th FDIC-insured institution to fail in the nation this year, and the sixth in California. The last FDIC-insured institution closed in the state was 1st Pacific Bank of California, San Diego, on May 7, 2010.
Bank Failures #74 to #76: Florida
by Calculated Risk on 5/28/2010 05:38:00 PM
Reckless lending aftermath
Condo kingdom crash
by Soylent Green is People
From the FDIC: Everbank, Jacksonville, Florida, Acquires All the Deposits of Three Affiliated Florida Institutions
Bank of Florida – Southeast, Fort Lauderdale, Florida; Bank of Florida – Southwest, Naples, Florida; and Bank of Florida – Tampa Bay, Tampa, Florida, were all closed today by the Florida Office of Financial Regulation, which appointed the FDIC as receiver. The three failed banks were owned by the same holding company, Bank of Florida Corporation, which was not part of this transaction.A quick three-fer ...
...
As of March 31, 2010, Bank of Florida - Southeast had total assets of $595.3 million and total deposits of $531.7 million; Bank of Florida - Southwest had total assets of $640.9 million and total deposits of $559.9 million; and Bank of Florida – Tampa Bay had total assets of $245.2 million and total deposits of $224.0 million. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Bank of Florida - Southeast will be $71.4 million; for Bank of Florida - Southwest, $91.3 million; and for Bank of Florida – Tampa Bay, $40.3 million. ...The three closings bring the total number of failed banks in the nation so far this year to 76 and the total in Florida to 13. Prior to today, the last bank closed in the state was Bank of Bonifay, Bonifay, on May 7, 2010.
Friday, May 21, 2010
Bank Failure #73: Pinehurst Bank, St. Paul, Minnesota
by Calculated Risk on 5/21/2010 06:08:00 PM
The bill could not help Pinehurst.
Ineffectual
by Soylent Green is People
From the FDIC Coulee Bank, La Crosse, Wisconsin, Assumes All of the Deposits of Pinehurst Bank, St. Paul, Minnesota
As of March 31, 2010, Pinehurst Bank had approximately $61.2 million in total assets and $58.3 million in total deposits.Busy week ... but Friday is here!
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $6.0 million.... Pinehurst Bank is the 73rd FDIC-insured institution to fail in the nation this year, and the sixth in Minnesota. The last FDIC-insured institution closed in the state was Access Bank, Champlin, on May 7, 2010.
Friday, May 14, 2010
Bank Failures #71 & #72: Missouri & Illinois
by Calculated Risk on 5/14/2010 07:10:00 PM
Southwest Community Bank
Has been shown the door.
Midwest Bank and Trust
A bailout recipient
TARP lifeline squandered
by Soylent Green is People
From the FDIC: Simmons First National Bank, Pine Bluff, Arkansas, Assumes All of the Deposits of Southwest Community Bank, Springfield, Missouri
As of March 31, 2010, Southwest Community Bank had approximately $96.6 million in total assets and $102.5 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $29.0 million. ... Southwest Community Bank is the 71st FDIC-insured institution to fail in the nation this year, and the fourth in Missouri.From the FDIC: Firstmerit Bank, National Association, Akron, Ohio, Assumes All of the Deposits of Midwest Bank and Trust Company, Elmwood Park, Illinois
As of March 31, 2010, Midwest Bank and Trust Company had approximately $3.17 billion in total assets and $2.42 billion in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $216.4 million. ... Midwest Bank and Trust Company is the 72nd FDIC-insured institution to fail in the nation this year, and the eleventh in IllinoisMidwest was a fair size bank ... that makes four today.
Bank Failure #70: New Liberty Bank, Plymouth, Michigan
by Calculated Risk on 5/14/2010 06:10:00 PM
Old liberties taken
Asset absconding
by Soylent Green is People
From FDIC: Bank of Ann Arbor, Ann Arbor, Michigan, Assumes All of the Deposits of New Liberty Bank, Plymouth, Michigan
As of March 31, 2010, New Liberty Bank had approximately $109.1 million in total assets and $101.8 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $25.0 million. ... New Liberty Bank is the 70th FDIC-insured institution to fail in the nation this year, and the third in Michigan.Two down ...
Bank Failure #69: Satilla Community Bank, Saint Marys, Georgia
by Calculated Risk on 5/14/2010 05:10:00 PM
One more Georgia bank wipe-out
B F F begins
by Soylent Green is People
From the FDIC: Ameris Bank, Moultrie, Georgia, Assumes All of the Deposits of Satilla Community Bank, Saint Marys, Georgia
As of March 31, 2010, Satilla Community Bank had approximately $135.7 million in total assets and $134.0 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.3 million. ... Satilla Community Bank is the 69th FDIC-insured institution to fail in the nation this year, and the eighth in Georgia.Friday is here.
Friday, May 07, 2010
Bank Failures #67 & 68: Arizona and California
by Calculated Risk on 5/07/2010 08:09:00 PM
Stopping and starting Friday's
A long road ahead.
Like hollowed pumpkins
Scooped out, carved up, value-less
Fearful faces left.
by Soylent Green is People
From the FDIC: Commerce Bank of Arizona, Tucson, Arizona, Assumes All of the Deposits of Towne Bank of Arizona, Mesa, Arizona
Towne Bank of Arizona, Mesa, Arizona, was closed today by the Arizona Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...From the FDIC: City National Bank, Los Angeles, California, Assumes All of the Deposits of 1st Pacific Bank of California, San Diego, California
As of March 31, 2010, Towne Bank of Arizona had approximately $120.2 million in total assets and $113.2 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $41.8 million. Towne Bank of Arizona is the 67th FDIC-insured institution to fail in the nation this year ...
1st Pacific Bank of California, San Diego, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver....That makes four today.
As of March 31, 2010, 1st Pacific Bank of California had approximately $335.8 million in total assets and $291.2 million in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $87.7 million. .... 1st Pacific Bank of California is the 68th FDIC-insured institution to fail in the nation this year, and the fifth in California.
Bank Failures #65 & 66: Florida and Minnesota
by Calculated Risk on 5/07/2010 06:37:00 PM
Injections of capital
Could not save this bank
One thousand point drop
Ten thousand banks may yet fail
Is it time for gold?
by Soylent Green is People
From the FDIC: First Federal Bank of Florida, Lake City, Florida, Assumes All of the Deposits of The Bank of Bonifay, Bonifay, Florida
Bank of Bonifay, Bonifay, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...From the FDIC: Prinsbank, Prinsburg, Minnesota, Assumes All of the Deposits of Access Bank, Champlin, Minnesota
As of March 31, 2010, The Bank of Bonifay had approximately $242.9 million in total assets and $230.2 million in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $78.7 million. ... The Bank of Bonifay is the 65th FDIC-insured institution to fail in the nation this year, and the tenth in Florida. The last FDIC-insured institution closed in the state was Riverside National Bank of Florida, Fort Pierce, on April 16, 2010.
Access Bank, Champlin, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...
As of March 31, 2010, Access Bank had approximately $32.0 million in total assets and $32.0 million in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $5.5 million..... Access Bank is the 66th FDIC-insured institution to fail in the nation this year, and the fifth in Minnesota. The last FDIC-insured institution closed in the state was State Bank of Aurora, Aurora, on March 19, 2010.
Friday, April 30, 2010
Bank Failure #64: Frontier Bank, Everett, Washington
by Calculated Risk on 4/30/2010 09:14:00 PM
A limitless horizon
Much like our debt load.
by Soylent Green is People
From the FDIC: Union Bank, National Association, San Francisco, California, Assumes All of the Deposits of Frontier Bank, Everett, Washington
Frontier Bank, Everett, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...Is that about $7 billion today?
As of December 31, 2009, Frontier Bank had approximately $3.50 billion in total assets and $3.13 billion in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $1.37 billion. ... Frontier Bank is the 64th FDIC-insured institution to fail in the nation this year, and the sixth in Washington. The last FDIC-insured institution closed in the state was City Bank, Lynnwood, on April 16, 2010.