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The FDIC seized 1 more bank, raising the totaled number of failed U.S banks in 2010 to 16. 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
1st American State Bank (Minnesota) $18.2 million $16.3 million
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The FDIC seized 5 more banks, raising the totaled number of failed U.S banks in 2010 to 15. 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
American Marine Bank (Washington) $373.2 million $308.5 million
First Regional Bank (California) $2.18 billion $1.87 billion
Community Bank and Trust (Georgia) $1.21 billion $1.11 billion
First National Bank of Georgia (Georgia) $832.6 million $757.9 million
Florida Community Bank (Florida) $875.5 million $795.5 million
Marshall Bank, National Association (Minnesota) $59.9 million $54.7 million
The FDIC seized 5 more banks, raising the totaled number of failed U.S banks in 2010 to 9. 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
Columbia River Bank (Oregon) $1.1 billion $1 billion
Charter Bank (New Mexico) $1.2 billion $851.5 million
Evergreen Bank (Washington) $488.5 million $439.4 million
Bank of Leeton (Missouri) $20.1 million $20.4 million
Premier American Bank (Florida) $350.9 million $326.3 million
From the WSJ: Obama Proposes New Bank Regulations
The White House wants commercial banks that take deposits from customers to be barred from investing on behalf of the bank itself—what’s known as proprietary trading—and said the administration will seek new limits on the size and concentration of financial institutions.
… Banks shielded from risk through federal-deposit insurance, or aided in financial crises by low-interest loans from the Federal Reserve Board, would no longer be allowed to engage in trading unrelated to their customers’ interests, one senior administration official said.
Under the proposed rule, commercial banks would be prohibited from owning, investing in or advising hedge funds or private equity firms. Bank regulators would not be simply given the discretion to enforce such rules. They would be required to do so.
…
Administration officials said they also want to toughen an existing cap on bank market share. Since 1994, no bank can have more than 10% of the nation’s insured deposits. The Obama administration wants that cap to include non-insured deposits and other assets.
The FDIC seized 3 more banks, raising the totaled number of failed U.S banks in 2010 to 4. 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
Barnes Banking Company (Utah) $827.8 million $786.5 million
Town Community Bank and Trust (Illinois) $69.6 million $67.4 million
St. Stephen State Bank (Minnesota) $24.7 million $23.4 million
Horizon Bank (Washington) $1.3 billion $1.1 billion
Horizon Bank in Washington State was the first bank to fail in 2010 kicking off the year with what is predicted to be the peak of small bank failures. The Federal Deposit Insurance Corp (FDIC) said Horizon Bank had about $1.3 billion in total assets and $1.1 billion in total deposits as Sept. 30. Horizon’s failure is projected to cost the FDIC insurance fund $539.1 million. Washington Federal Savings and Loan Association has agreed to purchase Horizon Bank and will assume all deposits.
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The FDIC seized four more banks, raising the totaled number of failed U.S banks in 2009 to 138.
Small(regional) banks are failing nearly every week due to the loan losses from the credit boom.
Brief Rundown;
Bank Assets Deposits
RockBridge Commercial Bank (Atlanta) $294 million $291.7 million
New South Federal Savings Bank (Alabama) $1.5 billion $1.2 billion
Citizens State Bank (Michigan) $168.6 million $157.1 million
Peoples First Community Bank (Florida) $1.8 billion $1.7 billion
Independent Bankers’ Bank (Illinois) $585.5 million $511.5 million
Imperial Capital (California) $4 billion $2.8 billion
According to the FDIC Los Angeles-based City National Bank has agreed to acquire all of the deposits of Imperial Capital, as well as $3.3 billion of the failed bank’s assets.
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