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Bank Failures Rise To 81 In 2010

EE-Reporter — Fri, 11 Jun 2010 01:57:26 +0000

The FDIC seized 3 more banks, raising the totaled number of failed U.S banks in 2010 to 81. FDIC Chairman Sheila Bair has said in the current banking crisis, failures will peak in 2010.

According to the FDIC bank failures from 2009 to 2013 is expected to cost $100 billion. Small(regional) banks are failing due to the loan losses from the credit boom. Many losses are result of the collapsed commercial real estate projects.

Brief Rundown;

Bank Assets Deposits

BTierOne Bank (Nebraska) $2.8 billion $2.2 billion
Arcola Homestead Savings Bank (Illinois) $17.0 million $18.1 million
First National Bank (Mississippi) $60.4 million $63.5 million

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Bank Failures Rise To 73 In 2010

EE Economist — Mon, 24 May 2010 18:09:47 +0000

The FDIC seized 1 more bank, raising the totaled number of failed U.S banks in 2010 to 73. FDIC Chairman Sheila Bair has said in the current banking crisis, failures will peak in 2010.

Brief Rundown;

Bank Assets Deposits

Pinehurst Bank (Minnesota) $61.2 million $58.3 million

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Goldman Sach History

EE Economist — Thu, 20 May 2010 15:34:30 +0000

The Story Behind Goldman Sachs!

Source: Visual Economics

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Bank Failures Rise To 68 In 2010

EE Economist — Sat, 08 May 2010 08:57:30 +0000

The FDIC seized 4 more banks, raising the totaled number of failed U.S banks in 2010 to 68. FDIC Chairman Sheila Bair has said in the current banking crisis, failures will peak in 2010.

Brief Rundown;

Bank Assets Deposits

Towne Bank of Arizona (Arizona) $120.2 million $113.2 million
1st Pacific Bank of California (California) $335.8 million $291.2 million
The Bank of Bonifay (Florida) $242.9 million $230.2 million
Access Bank (Minnesota) $32.0 million $32.0 million

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Bank Failures Rise To 64 In 2010

EE-Reporter — Mon, 03 May 2010 16:04:39 +0000

The FDIC seized 7 more banks, raising the totaled number of failed U.S banks in 2010 to 64. FDIC Chairman Sheila Bair has said in the current banking crisis, failures will peak in 2010.

Brief Rundown;

Bank Assets Deposits

Frontier Bank (Washington)                                                 $3.50 billion                    $3.13 billion
BC National Banks (Missouri)                                               $67.2 million                   $54.9 million
Champion Bank (Missouri)                                                    $187.3 million                 $153.8 million
CF Bancorp (Michigan)                                                            $1.65 billion                     $1.43 billion
Eurobank (Puerto Rico)                                                           $2.56 billion                     $1.97 billion
R-G Premier Bank of Puerto Rico (Puerto Rico)            $5.92 billion                     $4.25 billion
Westernbank Puerto Rico (Puerto Rico)                           $11.94 billion                   $8.62 billion

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Bank Failures Rise To 57 In 2010

EE Economist — Sat, 24 Apr 2010 06:49:23 +0000

The FDIC seized 7 more banks, raising the totaled number of failed U.S banks in 2010 to 57. FDIC Chairman Sheila Bair has said in the current banking crisis, failures will peak in 2010.

Brief Rundown;

Bank Assets Deposits

Lincoln Park Savings Bank (Illinois) $199.9 million $171.5 million
Peotone Bank and Trust Company (Illinois) $130.2 million $127.0 million
Wheatland Bank (Illinois) $437.2 million $438.5 million
Amcore Bank, National Association (Illinois) $3.8 billion $3.4 billion
Broadway Bank (Illinois) $1.2 billion $1.1 billion
Citizens Bank&Trust Company Of Chicago (Illinois) $77.3 million $74.5 million
New Century Ban (Illinois) $485.6 million $492.0 million

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Bank Failures Rise To 50 In 2010

EE Economist — Mon, 19 Apr 2010 15:25:02 +0000

The FDIC seized 7 more banks, raising the totaled number of failed U.S banks in 2010 to 50. FDIC Chairman Sheila Bair has said in the current banking crisis, failures will peak in 2010.

Brief Rundown;

Bank Assets Deposits

Lakeside Community Bank (Michigan)                       $53.0 million                           $52.3 million
Riverside National Bank (Florida)                                $3.42 billion                             $2.76 billion
First Federal Bank (Florida)                                            $393.3 million                         $324.2 million
AmericanFirst Bank (Massachusetts)                          $90.5 million                          $81.9 million
Innovative Bank (California)                                          $268.9 million                         $225.2 million
Tamalpais Bank (California)                                            $628.9 million                         $487.6 million
City Bank (Washington)                                                     $1.13 billion                             $1.02 billion

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Bank Failures Rise To 42 In 2010

EE-Reporter — Mon, 12 Apr 2010 16:49:29 +0000

The FDIC seized 1 more bank, raising the totaled number of failed U.S banks in 2010 to 42. FDIC Chairman Sheila Bair has said in the current banking crisis, failures will peak in 2010.

Brief Rundown;

Bank Assets Deposits

Beach First National Bank (South Carolina) $585.1 million $516.0 million

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U.S Treasury Annouces Sale Of Citigroup Stock

EE Economist — Tue, 30 Mar 2010 18:22:30 +0000

The U.S. Government is estimating to record a $7.7 billion profit according to the U.S. Treasury.

At the peak of the credit crisis in 2008 the government received 7.7 billion shares of Citigroup in return for $25 billion, and was repaid the $20 billion loan last December (TARP).

Late last year Citigroup announced millions of new shares to sell and at that time the government considered selling its stake as well. However, the treasury paid $3.25 a share and with the price at $3.15 a share the government would have lost $158.7 million so they backed out and decided to sell their shares systematically based on market conditions.

If the government is able to sell their stake at $4.25 a share they will earn $7.7 billion profit. Additionally, Morgan Stanley will handle the sale of those shares.

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Bank Failures Rise To 41 In 2010

EE Economist — Mon, 29 Mar 2010 16:33:11 +0000

The FDIC seized 4 more banks, raising the totaled number of failed U.S banks in 2010 to 41. FDIC Chairman Sheila Bair has said in the current banking crisis, failures will peak in 2010.

Brief Rundown;

Bank Assets Deposits

Desert Hills Bank (Arizona)                                           $496.6 million                            $426.5 million
McIntosh Commercial Bank (Georgia)                     $362.9 million                            $362.9 million
Key West Bank (Florida)                                                 $88 million                                   $67.7 million
Unity National Bank (Georgia)                                     $292.2 million                            $264.3 million

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