Bank Failure Friday - Asian (early) edition - April 30

[joe_momma]

Good Morning - This is getting posted a bit early for the States this week - technically it is Friday here already. Last week saw a stunning 7 banks - all in state of residence of the Great Leader (you know - the guy with the teleprompters) -

Oddly, there was very little mention in the news (if BBC counts as such) of any connection between senior political leaders and any of the failed banks.

With more than 375 insolvent banks left (plus 2,700 that are really over extended) how many banks will they shutter today - for the tie breaker - choose one (1) state where a bank will be closed


Please get your votes in by 17:00 Eastern Time -


Good luck to all!



One can follow along at the FDIC site -

http://www.fdic.gov/bank/individual/failed/banklist.html

I'll go with 5 banks, one of which will be in "Ol' Duckpond" Joe's home of Delaware!

[Apparition]

4 to 6 is my guess.

[1970 Silver Art]

Yep the exhaustion is setting in for the FDIC goons. I am going to call for a "Terrible Two" for today. I think that there will only 2 bank failures for today.

[platinumdude]

Too bad their is no public poll here.

[optionT]

I'm goin conservative here..



















44 banks will fail! ;D

[YukonCornelius]

I picked zero because we have recovered from the "recession".

[Spectrism]

I say 7. They are ramped up and able to handle the larger number consistently. Nuthin but blew skies from here... up, up and away!

[ruprick]

A fist full this Fridat = 5 banks.

For the "ruprick" = NV, TX, GA, FL, CA.

[jimswift]

another 7-8 with NV.

[undgrd]

4 - 6 with Georgia taking the "honors"

[gunny highway]

another 7-8 with NV.


roger that

[Ash_Williams]

7-8 and I'm betting on 8.

[platinumdude]

I vote the 9+

[Apparition]

3 from Puerto Rico so far:

Westernbank Puerto Rico Mayaguez, Puerto Rico
R-G Premier Bank of Puerto Rico Hato Rey, Puerto Rico
Eurobank San Juan, Puerto Rico

[Apparition]

4 so far.

One from MI bit the dust:

CF Bancorp Port Huron, MI

[Apparition]

5 total so far.

The most recent one being:

Champion Bank Creve Coeur, MO

[platinumdude]

Make that six.

BC National Banks, Butler, MO

[1970 Silver Art]

It seems to me that the FDIC is on a roll. Will this be the day that we see the Epic Bank Failure whoopsie?

[platinumdude]

http://www.championbankstl.com/2722/mirror/articles.htm

http://www.championbankstl.com/2722/mirror/design/photo1.jpg (ftp://http://www.championbankstl.com/2722/mirror/design/photo1.jpg)

[platinumdude]

This was earlier in the week.

04/27/2010 Tracy Federal Credit Union, Tracy, California

http://www.ncua.gov/Resources/ClosedCU/2010.aspx

[1970 Silver Art]

http://www.championbankstl.com/2722/mirror/articles.htm

http://www.championbankstl.com/2722/mirror/design/photo1.jpg (ftp://http://www.championbankstl.com/2722/mirror/design/photo1.jpg)





Yeah. They are a champion.....................until today when the FDIC came into the ring. The FDIC gave Champion Bank a knockout punch today.

Yo Adrian!!!!!! HEEEELP!!!!!! I've fallen and I cannot get up!

:ROFL:

[mick silver]

i like how it was two or three everyweek now it six or eight .. in a few months it will be ten or twelve a week . i pick 6 anyways

[madfranks]

Literally 5 minutes ago on the news they said 3 banks were closed today, then I come here and I see 7 so far! Is the news just trying to make it seem less bad than it is, or are they just that slow at updating their feeds?

[gunny highway]

Literally 5 minutes ago on the news they said 3 banks were closed today, then I come here and I see 7 so far! Is the news just trying to make it seem less bad than it is, or are they just that slow at updating their feeds?


i think you know... :morph:

[MNeagle]

7 bank failures take bite out of FDIC deposit fund

SAN FRANCISCO (MarketWatch) -- A trio of bank failures in Puerto Rico and four more closures in Michigan, Washington and Missouri took a nearly $7.4 billion bite out of the federal deposit-insurance fund on Friday, while raising the number of U.S. bank failures this year to 64.

The Federal Deposit Insurance Corp. said Puerto Rico's Westernbank, Eurobank and R-G Premier Bank of Puerto Rico were all closed, with a combined $14.84 billion in deposits.

Their closure will cost the deposit-insurance fund roughly $5.28 billion, the regulator said.

The closure of Everett, Wash.-based Frontier Bank, which $3.13 billion in deposits, will cost the insurance fund $1.37 billion, the FDIC estimated.

According to a report in The Wall Street Journal, the FDIC hasn't grappled with such a significant problem in a single banking market since the savings and loan crisis of the 1990s.

Later in the day, the FDIC announced the closure of CF Bancorp. in Port Huron, Mich. The Michigan bank had $1.43 billion in deposits as of Dec. 31.

Two Missouri institutions, Creve Coeur-based Champion Bank and Butler-based BC National Banks, also were closed.

http://www.marketwatch.com/story/puerto-rico-bank-failures-take-bite-out-of-fdic-2010-04-30

[Ash_Williams]

Wow, first time ever that I've clicked the right choice.