Archive for March, 2010
Friday, March 26th, 2010
Desert Hills Bank, Phoenix, Arizona becomes the 41st FDIC-insured institution to fail in the nation this year at an estimated cost to the FDIC Deposit Insurance Fund (DIF) of $106.7 million.
Desert Hills Bank, Phoenix, Arizona, was closed today by the Arizona Department of Financial Institutions, which appointed the Federal Deposit ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, March 26th, 2010
Unity National Bank, Cartersville, Georgia, is the 40th FDIC-insured institution to fail in the nation this year, at an estimatedcost to the Deposit Insurance Fund (DIF) will be $67.2 million.
Unity National Bank, Cartersville, Georgia, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, March 26th, 2010
Key West Bank, Key West, Florida, becomes the 39th FDIC-insured institution to fail in the nation this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $23.1 million.
Key West Bank, Key West, Florida, was closed today by the Office of Thrift Supervision, which appointed ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, March 26th, 2010
McIntosh Commercial Bank, Carrollton, Georgia, becomes the 38 FDIC insured institution to fail this year. The agency estimates that the cost to its Deposit Insurance Fund (DIF) will be $123.3 million.
McIntosh Commercial Bank, Carrollton, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal ...
Posted in FDIC FAILED BANKS | No Comments »
Wednesday, March 24th, 2010
Tracy Federal Credit Union, went from the frying pan into the fire as Federal placed the ailing institution into conservatorship on Friday and then put the ailing institution out of it's misery today turning it over to the Valley First Credit Union of Modesto.
The 5,900 members of Tracy Federal Credit ...
Posted in CREDIT UNION CONSERVATORSHIPS, CREDIT UNION FAILURES | No Comments »
Tuesday, March 23rd, 2010
Cindi Dixon, MFI-Miami
Mortgage fraud is generally understood as borrowers overstating income or misrepresenting their intent to occupy the subject property. Although studies have found approximately 80% of mortgage fraud involves an industry insider, mortgage bankers have an affinity for passing the buck, so to speak. From the inside, mortgage fraud ...
Posted in BREAKING NEWS! | No Comments »
Friday, March 19th, 2010
State Bank of Aurora, Aurora, Minnesota, is the 37th FDIC-insured institution to fail in the nation this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $4.2 million.
State Bank of Aurora, Aurora, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, March 19th, 2010
First Lowndes Bank, Fort Deposit, Alabama, becomes the 36th FDIC-insured institution to fail in the nation this year, at an estimated cost to the Deposit Insurance Fund (DIF) of $38.3 million.
First Lowndes Bank, Fort Deposit, Alabama, was closed today by the Alabama Banking Department, which appointed the Federal Deposit Insurance ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, March 19th, 2010
Bank of Hiawassee, Hiawassee, Georgia, is the 35th FDIC-insured institution to fail in the nation this year, and the fifth in Georgia. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $137.7 million.
Bank of Hiawassee, Hiawassee, Georgia, was closed today by the Georgia Department of Banking ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, March 19th, 2010
Appalachian Community Bank Ellijay, Georgia, is the 34th FDIC-insured institution to fail in the nation this year, at an estimated cost of $419.3 million to the Deposit Insurance Fund (DIF).
Appalachian Community Bank, Ellijay, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation ...
Posted in FDIC FAILED BANKS | No Comments »
