From the category archives:
Distressed residential, multifamily, commercial and construction loans plus bank owned properties at more than 8,000 banks in the U.S.
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 [...]
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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 [...]
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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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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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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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At the close of 2008 the nation’s lenders reported $28,759,725,000 in distressed commercial real estate loans. At distressedpro.com we’re projecting double that figure at the close of 2009.
We won’t have final figures until mid-late February for the close of 2009 but we’re projecting the final reporting for distressed commercial real estate loans for US banks [...]
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American Banker, an on and off-line trade magazine for the banking industry ran an article today reporting much of the same thing that I have been saying here on this blog That Sinking Feeling: CRE Flood Set to Start in ‘10. Banks will face significant problems with commercial real estate starting in 2010. This is [...]
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We’ve had an opportunity to go through most of the bank data released over Thanksgiving week. The 309 (bank mergers and acquisitions are reducing the numbers of reporting institutions) New England Based banks are reporting an increase in multifamily, commercial, and construction loan problems and REO balances.
At distressedpro.com we calculate an institution’s real estate distress [...]
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The pace of the construction implosion appears to be easing. Construction notes have been plagued by high rates of default and soaring REO balances since the economy has been in turmoil. This quarter, however, it appears that we may be “getting over the hump”.
Construction loans reported as 90+ days late but still accruing interest increased [...]
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Q3 2009 FDIC bank data was released today. As you know if you are a member or your follow this blog this is where base of information that BankProspector runs on. The new numbers are currently being processed and we expect to have them available for members (hopefully) before the weekend.
Predictably the number of “problem” [...]
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The Q3 aggregated FDIC data will be available any day.
In Q2 this year we saw an increase in non-accrual commercial real estate loans (non-performing loans) of 31% nationally.
How much are we going to see this time?
Poll: http://polls.linkedin.com/p/66214/isxif
Subscribe to the feed or enter your email in the box to the right for an update when the [...]
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