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Failed Banks

Why a Billion Dollar Bank Went Bust

Charter Bank Based in Santa Fe NM Closed Friday January 22nd 2010

January 27, 2010

in Distressed Construction Loans and REO, Failed Banks, New Mexico Banks, Residential Non-Performing Loans and REO

This is the third in a series of five post mortems on the banks that were closed on January, 22nd 2010.
Charter Bank of Santa Fe, NM was a $1.25 Billion dollar bank. It was closed on Friday by the FDIC and reopened as a Beal Bank subsuduary on Monday morning. Beal Bank is a [...]

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Why Evergreen Bank Failed

Evergreen Bank got torched as a result of bad construction loans.

January 26, 2010

in Distressed Construction Loans and REO, Failed Banks, Washington Banks

This is second in a series of five post mortems that I’m doing on failed banks this week. This one is Evergreen Bank, formerly a community bank based in Seattle WA. Like many other community and regional banks it had to compete where the big guys couldn’t, or wouldn’t. Stats as of last reporting are [...]

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5 Failed Bank Autopsies January 22 2010

Failed Banks - Body Bag

January 25, 2010

in Distressed Construction Loans and REO, Failed Banks, Oregon Banks

Five banks were shuttered on Friday. It’s funny (sort of) that this has now become such a common Friday night occurrence that there is very little coverage of the events on Monday morning. A Google search this morning revealed fewer than a handful of reports on the closings and none with many details. I’m going [...]

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