Archive for July, 2010
Friday, July 23rd, 2010
SouthwestUSA Bank, Las Vegas, Nevada, was the 102nd bank shut down by the FDIC this year.The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $74.1 million.
SouthwestUSA Bank, Las Vegas, Nevada, was closed today by the Nevada Financial Institutions Division, which appointed the Federal Deposit Insurance ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, July 23rd, 2010
Community Security Bank, New Prague, Minnesota, was the 101st FDIC bank beat down this year.The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $18.6 million.
Community Security Bank, New Prague, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, July 23rd, 2010
Thunder Bank, Sylvan Grove, Kansas, was shut down by the FDIC, making it the 100th bank to be shuttered nationwide this year. The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $4.5 million.
Thunder Bank, Sylvan Grove, Kansas, was closed today by the Kansas Office ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, July 23rd, 2010
Williamsburg First National Bank, Kingstree, South Carolina, was shut down and igiven up to the FDIC making it the 99th FDIC-insured institution to fail in the nation this year. The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $8.8 million.
Williamsburg First National Bank, Kingstree, South ...
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Friday, July 23rd, 2010
Crescent Bank and Trust Company, Jasper, Georgia, is one of seven FDIC bank closings tonight, bringing the total number closed nationwide this year to 98. The agency estimates that the cost to the Deposit Insurance Fund (DIF) for Metro Bank of Dade County will be $242.4 million.
Crescent Bank and Trust ...
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Friday, July 23rd, 2010
Sterling Bank, Lantana, Florida, was shut down and it's deposits served up to IBERIABANK, Lafayette, Louisiana. Sterling Bank becomes the 97th bank to be closed nationwide this year. The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $45.5 million.
Sterling Bank, Lantana, Florida, was closed today ...
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Thursday, July 22nd, 2010
Boy, it really starts to add up, doesn't it? This makes quick work of almost half of the FDIC's $40B pre-payment trick. What next?
Note also that these failures are far from completely "resolved", and that the below FDIC costs are just preliminary estimates -- the ultimate losses ...
Posted in BREAKING NEWS! | No Comments »
Wednesday, July 21st, 2010
Steve Dibert, MFI-Miami
The cool thing about owning a company like MFI-Miami is that I get to chat on and off the record with a lot of media types with the inside scoop on what is going on in the financial world. These conversations tend to link a lot of missing ...
Posted in BREAKING NEWS! | No Comments »
Friday, July 16th, 2010
Mainstreet Savings Bank, FSB, Hastings, Michigan, was slammed shut by the FDIC tonight making it the 96th bank to fall nationwide in 2010. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $11.4 million.
Mainstreet Savings Bank, FSB, Hastings, Michigan, was closed today by the Office ...
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Friday, July 16th, 2010
Olde Cypress Community Bank, Clewiston, Florida, is number 95 on the FDIC's beat down list nationwide this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.5 million.
Olde Cypress Community Bank, Clewiston, Florida, was closed today by the Office of Thrift Supervision, which appointed ...
Posted in FDIC FAILED BANKS | No Comments »
