Topic
Bank Failures
The rush of bank failures at the end of last year has only escalated. By mid-April, regulators had seized about as many institutions this year as they had in all of 2008, with closures mostly striking community banks lacking the resources to survive the financial meltdown. Facing an enormous workload, the FDIC has had to bulk up manpower, reserve more money to pay depositors and raise premiums to prepare for a longer list of casualties. The following collection of stories on bank failures will be updated as more occur.
Three Failures Take '09 Tally to 123
American Banker | Nov 16Two failures in Florida, including the collapse of Naples-based Orion Bank, and another in California late Friday brought the year's total to 123.
U.S., China Team Up on Failed San Francisco Bank
American Banker | Nov 09Officials announced the elaborate closing of United Commercial Bank Friday night in a deal involving both U.S. and Chinese regulators and a buyer poised to assume the bank's ...
FDIC Uses Old Tool to Lower Cost of Failures
Cross-guaranty fee forces two healthy FBOP units to close
American Banker | Nov 03The Federal Deposit Insurance Corp. dusted off rarely used authority to charge the banks for the resolution costs of the other seven insolvencies — ultimately causing the ...
FBOP's Subsidiaries Closed, Sold to U.S. Bank
American Banker | Nov 02Over a year after being hit hard by the takeover of Fannie Mae and Freddie Mac, FBOP Corp.'s nine banks totaling $19 billion in assets were closed by the government Friday night.
Failures in Triple Digits After 7 Banks Fall
American Banker | Oct 26Failures in 2009 shot past the 100-mark late Friday as regulators swooped into seven community banks in the Midwest and southeast.
Failures in Triple Digits After 7 Banks Fall
American Banker | Oct 23Failures in 2009 shot past the 100-mark late Friday as regulators swooped into seven community banks in the Midwest and southeast.
2009 Failure Tally Hits Major Milestone
American Banker | Oct 23The industry marked a stark milestone Friday — the 100th bank failure of 2009. It is the first time since 1992 that failures hit triple digits.
Failure in California is Year's 99th
American Banker | Oct 19San Joaquin Bank in Bakersfield, Calif., became the industry's 99th failed institution of the year late Friday.
Regulators Shut Three Banks, in Michigan, Minnesota and Colorado
'09 failure total rises to 98
American Banker | Oct 05Regulators shut three banks late Friday — Warren Bank in Michigan, Jennings State Bank of Spring Grove, Minnesota and Southern Colorado National Bank in Pueblo.
Regulators Shut Three Banks, in Michigan, Minnesota and Colorado
'09 failure total rises to 98
American Banker | Oct 02Regulators shut three banks late Friday — $538 million-asset Warren Bank in Michigan, $56.3 million-asset Jennings State Bank of Spring Grove, Minnesota and $39.5 million-asset Southern Colorado National Bank in Pueblo.
