Archive for May, 2011
Friday, May 27th, 2011
First Heritage Bank, Snohomish, Washington, became the 44th FDIC-insured institution to fail in the nation this year, at an estimated that the cost to the Deposit Insurance Fund (DIF) of $34.9 million.
First Heritage Bank, Snohomish, Washington, was closed today by the Washington State Department of Financial Institutions, ...
Posted in FDIC FAILED BANKS | No Comments »
Thursday, May 26th, 2011
Here at BankImplode we are running an "enhanced" pickup of a DealFlow piece (subscription or one-time purchase required) reported by Teri Buhl in the May 24th, 2011 Distressed Debt Report. We are including a copy of the affadavit of Fred DeCaro Jr., the former Chairman of the bank ...
Posted in BREAKING NEWS! | No Comments »
Friday, May 20th, 2011
Summit Bank, Burlington, Washington, is the 43rd FDIC-insured institution to fail in the nation this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $15.7 million.
Summit Bank, Burlington, Washington, was closed today by the Washington State Department of Financial Institutions, which appointed the Federal ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, May 20th, 2011
First Georgia Banking Company, Franklin, Georgia, became the the 42nd FDIC insured bad bank shuttered this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for First Georgia Banking Company, will be $156.5 million.
CertusBank, National Association, Easley, South Carolina, acquired the banking operations, including all the ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, May 20th, 2011
Atlantic Southern Bank, Macon, Georgia, became the 41st causality of the banking crisis this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Atlantic Southern Bank will be $273.5 million.
CertusBank, National Association, Easley, South Carolina, acquired the banking operations, including all the deposits, of ...
Posted in FDIC FAILED BANKS | No Comments »
Thursday, May 19th, 2011
Originally posted at Stockmarket-Implosion.
Before the credit bubble exploded in the summer of 2007 JP Morgan was considered on the Street to be something less than the beat up red headed stepson to that more glamorous house of Morgan, Morgan Stanley. Since then the other Morgan's, J. P., fortunes ...
Posted in BREAKING NEWS! | No Comments »
Friday, May 6th, 2011
Coastal Bank, Cocoa Beach, Florida, became the 40th ailing bank to be closed in 2011. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $13.4 million.
Coastal Bank, Cocoa Beach, Florida, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance ...
Posted in FDIC FAILED BANKS | No Comments »
Wednesday, May 4th, 2011
Hmong American Federal Credit Union of St. Paul, Minnesota, was placed into conservatorship by the National Credit Union Administration (NCUA) today.
The credit union remains open and operating, although services have moved to a new location. While continuing normal member services, NCUA will work to resolve issues affecting the institution’s safety ...
Posted in CREDIT UNION CONSERVATORSHIPS | No Comments »
Wednesday, May 4th, 2011
Valued Members Federal Credit Union of Jackson, Mississippi, was placed into conservatorship by the National Credit Union Administration (NCUA) today.
Valued Members Federal Credit Union remains open and operating. While continuing normal member services, NCUA will work to resolve issues affecting the Valued Members Federal Credit Union’s safety and soundness.
Deposits at ...
Posted in CREDIT UNION CONSERVATORSHIPS | No Comments »
