From the category archives:
As we drive deeper into the second quarter of 2010, 57 banks have been closed throughout the United State during the calendar year by the Federal Deposit Insurance Corporation (FDIC) and the office of the comptroller of the currency. Assessing the US bank failure situation vis-à-vis 2009, considered the worst year for bank failures [...]
{ 1 comment }
What do Boca Raton, FL, Normal, IL, Germantown, MD, and Ogden, UT have in common? They are home to the latest four banks to shutter their doors in 2010, bringing the total failed bank count this year to 26. With over 700 banks on the FDIC’s watch list, 2010 could prove to be [...]
{ 0 comments }
The search for US bank failures grew a little easier this past week when the Federal Deposit Insurance Corporation (FDIC) moved forward in closing an additional 4 institutions. The latest US FDIC-insured institutions to fail, which brings the 2010 failed bank count to 20, include:
Marco Community Bank – its sole branch has been reopened as [...]
{ 0 comments }
In the wake of another US bank failure in early February 2010, the two branches of 1st American State Bank of Hancock Minnesota have reopened as branches of Community Development Bank, FSB, under the watchful eye of the Federal Deposit Insurance Corporation (FDIC) and the Minnesota Department of Commerce. BankProspector provides Distressed Pro members [...]
{ 0 comments }
The First National Bank of Georgia, located in Carrolton, GA, which had approximately $832.6 million in total assets and $757.9 million in total deposits was closed in late January 2010 by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC). Following the bank’s failure, depositors from its eleven [...]
{ 0 comments }
Florida Community Bank was the 11th FDIC-insured institution to fail in the nation this year, and the second in Florida. Florida Community Bank was closed by the State of Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) on Friday, January 29, 2010.
The 11 branches of Florida Community Bank reopened as branches [...]
{ 0 comments }
It was recently announced that United Valley Bank will pay the Federal Deposit Insure Corporation (FDIC) a premium of 7.35% to assume all deposits of Marshall Bank, National Association after the Hallock, MN institution failed in late January.
United Valley Bank signed an agreement to purchase essentially all of the failed bank’s assets, and the 3 [...]
{ 0 comments }
In late January, the Federal Deposit Insurance Corporation (FDIC), and California Department of Financial Institutions closed First Regional Bank of Los Angeles, CA. The 8 California branches of First Regional Bank will be transferred to First-Citizens Bank & Trust Company.
First Regional Bank, which recorded approximately $2.18 billion in total assets and [...]
{ 1 comment }
The Federal Deposit Insurance Corporation (FDIC), in conjunction with the Georgia Department of Banking and Finance, continued its 2010 roll of shutting down banks with the January 29, 2010 closing of Community Bank and Trust of Cornelia, GA.
Following the closure, SCBT announced that its bank subsidiary would enter an $827.7 million purchase and assumption agreement [...]
{ 0 comments }
On Friday, January 29, 2010, the Washington Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) closed American Marine Bank of Bainbridge Island, WA. This was following December 2009 attempts by American Marine Bank to improve its lending and management policies, and failed hopes that an investor would rescue the 61-year-old Washington [...]
{ 0 comments }
On Friday, January 22, 2010, Premier American Bank, Miami, FL was closed by The State of Florida Office of Financial Regulation. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. All deposit accounts, excluding certain brokered deposits, have been transferred to Premier American Bank, N.A., Miami, FL, a newly chartered National Bank.
In addition to [...]
{ Comments on this entry are closed }
Copyright © 2010 DistressedPro. All Rights Reserved.
