Bank Failure Friday - Memorial Day 2010

[joe_momma]

Happy Memorial Day!

For those of you in Californistan - because of Global Warming you can go skiing on Memorial Day! (and on into June). A co-worker tried to explain that because of Global Warming across the planet is everything is cooling down - not unlike how having government money dumped into the banking system actually means the amount of money available to loan decreases.

I suspect the FDIC will barely put out today, if at all. (Alternative view is a huge swath of closures while no one was paying attention...).

As usual, choose how many banks will be closed by 8 pm PDT - as a tie breaker choose one state, district, or commonwealth that will receive the attention of the fraudsters.

One can follow along at http://www.fdic.gov/bank/individual/failed/banklist.html

best wishes to all!


I'll go with none this week!

[YukonCornelius]

"Nothing to see here."

[Apparition]

I'm guessing that there'll be 3-4 bank failures.

[MNeagle]

5-6, Georgia.

[madfranks]

I'll go with 5-6. I'm always wrong though. :P

[Quantum]

Two & Georgia.

[Apparition]

Three so far, all of which are from FL:

Bank of Florida - Tampa Tampa, FL
Bank of Florida - Southwest Naples, FL
Bank of Florida - Southeast Fort Lauderdale, FL

[Ash_Williams]

Looks like 5 this week.

[joe_momma]

I am confused :conf: - there's either 3 or 5 so far - the Bank of Florida looks odd - all had the same basic name, same press release, and gobbled up by the same bank .....

Stay tuned

[MNeagle]

Three Banks in Florida Are Shut

State and federal regulators closed three banks in Florida, bringing the nationwide total of failed institutions so far this year to 76, with 13 of them in Florida.

The Florida Office of Financial Regulation closed three units ...

http://online.wsj.com/article/SB10001424052748704596504575273013565848440.html?m od=rss_whats_news_us_business

Earlier Yahoo said one bank in CA also closed, but the link is no longer up right now.

[MNeagle]

update:


Five More Banks in U.S. Are Shut

State and federal regulators closed five banks in Florida, California and Nevada, bringing the nationwide total of failed institutions so far this year to 78, with 13 in Florida, six in California and two in Nevada.

The Florida Office of Financial Regulation closed three units of Bank of Florida Corp., naming the Federal ...


http://online.wsj.com/article/SB10001424052748704596504575273013565848440.html?m od=rss_whats_news_us_business

[MNeagle]

3 Fla. banks, 1 each in Nev., Calif. shut down

http://finance.yahoo.com/news/3-Fla-banks-1-each-in-Nev-apf-392122267.html?x=0

[EE_]

I wonder if the gulf state banks will get hit hard when the people start to flea the oil rains and the rest are relocated by the gooberment?

[joe_momma]

Well - I am stumped - technically 5 banks are listed (see below) but 3 of those banks are all held by the same "mother ship", in the same state, and gobbled by the same bank -

Therefore I think we've a tie - both 3 and 5 banks failed today - I do not buy that the Florida banks are separate entities -

Apparition, MNEagle, and MadFranks all - I'll call it a tie, since they'd not chosen a correct state!

Well done and see you all next week!

1) Sun West Bank Las Vegas NV
2) Granite Community Bank, NA Granite Bay CA
3-5)
(same darn banks)
Bank of Florida - Tampa Tampa FL
Bank of Florida - Southwest Naples FL
Bank of Florida - Southeast Fort Lauderdale FL