Bank Failure Friday

[osoab]

1 bank today. PR-84-2011 Premier American Bank, National Association, Miami, Florida, Assumes All of the Deposits of Coastal Bank, Cocoa Beach, Florida (http://www.fdic.gov/news/news/press/2011/pr11084.html)

2 credit unions on Wednesday.

Hmong American Federal Credit Union Placed into Conservatorship (http://www.ncua.gov/news/press_releases/2011/MR11-0504HmongAmericanFCU.pdf)

Valued Members Federal Credit Union Placed into Conservatorship (http://www.ncua.gov/news/press_releases/2011/MR11-0504ValuedMemberConservatorship.pdf)

[osoab]

Fat zero in the bank department and credit union area tonight.

I did find this though. Not quite a failure, more of a shedding.
Very small markets overall.

3 former First Bank branches will reopen Saturday as part of UCB (http://www.sj-r.com/breaking/x1539866044/3-former-First-Bank-branches-will-reopen-Saturday-as-part-of-UCB)


CHATHAM — Three former First Bank branches in the region will reopened Saturday as branches of United Community Bank of Chatham.

The acquisition of banks in Winchester, Roodhouse and Pittsfield, first announced in December, was completed Friday.

‘It’s a little further west of Springfield than we’ve been,” UCB president and chief financial officer Todd Wise said Friday.

Sale terms were not disclosed, but the assets of nearly $100 million at the three banks bring total UCB assets to $1.25 billion. UCB now has 19 branch banks in 18 central Illinois communities.

Winchester is 60 miles west of Springfield in Scott County, Roodhouse is 60 miles southwest in Greene County and Pittsfield is 70 miles west in Pike County. Wise said all employees of the existing branches would remain and plans are to bring in additional lending staff. UCB now has a company-wide work force of approximately 350.

“Our priority remains true community banking, where decisions are made locally,” UCB chairman and CEO Robert Narmont said in a statement announcing completion of the deal.

UCB is new to the Scott and Pike County markets. It entered Greene County in 1973 with the purchase of Farmer’s State Bank of Greenfield.

The Winchester, Roodhouse and Pittsfield branches were among a last group of Illinois banks sold by First Bank. The St. Louis banking company began selling off operations in 2008 as part of a cost-cutting and consolidation strategy.

[gunDriller]

what happened to that Joe guy that used to do these ?

[BrewTech]

what happened to that Joe guy that used to do these ?
joe_momma is still an active member... logged on as recently as yesterday... why he isn't doing the BFF thread any more I don't know.

A local credit union here closed two of its branches recently, converting them to "electronic" branches. I guess that means there will still be an ATM available.

[osoab]

Two down tonight. Lost a credit union during the week.


PR-90-2011 Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of Summit Bank, Burlington, Washington (http://www.fdic.gov/news/news/press/2011/pr11090.html)

PR-89-2011 CertusBank, National Association, Easley, South Carolina, Acquires All the Deposits of Two Georgia Institutions (http://www.fdic.gov/news/news/press/2011/pr11089.html)

Hmong American Federal Credit Union Closes
5/18/2011 (http://www.ncua.gov/news/press_releases/2011/MR11-0518HmongLiquidation.pdf)

[osoab]

I didn't post the single bank from last week. No credit unions failed that I saw last week.
PR-94-2011 Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of First Heritage Bank, Snohomish, Washington (http://www.fdic.gov/news/news/press/2011/pr11094.html)

One credit union failed on Monday.
Valued Members Federal Credit Union Purchased by Magnolia FCU 5/31/2011 (http://www.ncua.gov/news/press_releases/2011/MR11-0531ValuedMembersLiquidation.pdf)

One down so far today. Over half on this banks assets are possibly bad going by the loss share amount.
PR-100-2011 First Citizens Bank and Trust Company, Inc., Columbia, South Carolina, Assumes All of the Deposits of Atlantic Bank and Trust, Charleston, South Carolina

[Dogman]

I didn't post the single bank from last week. No credit unions failed that I saw last week.
PR-94-2011 Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of First Heritage Bank, Snohomish, Washington (http://www.fdic.gov/news/news/press/2011/pr11094.html)

One credit union failed on Monday.
Valued Members Federal Credit Union Purchased by Magnolia FCU 5/31/2011 (http://www.ncua.gov/news/press_releases/2011/MR11-0531ValuedMembersLiquidation.pdf)

One down so far today. Over half on this banks assets are possibly bad going by the loss share amount.
PR-100-2011 First Citizens Bank and Trust Company, Inc., Columbia, South Carolina, Assumes All of the Deposits of Atlantic Bank and Trust, Charleston, South Carolina




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



http://www.fdic.gov/bank/individual/failed/atlanticbanktrust.html#introduction (http://www.fdic.gov/bank/individual/failed/atlanticbanktrust.html#introduction)

All deposit accounts, including brokered deposits, have been transferred to First Citizens Bank and Trust Company, Inc., Columbia, SC ("assuming institution") and will be available immediately. The former Atlantic Bank and Trust locations will reopen as branches of First Citizens Bank and Trust Company, Inc. during regular business hours.

Your transferred deposits will be separately insured from any accounts you may already have at First Citizens Bank and Trust Company, Inc. for six months after the failure of Atlantic Bank and Trust. Checks that were drawn on Atlantic Bank and Trust that did not clear before the institution closed will be honored as long as there are sufficient funds in the account. For more information on deposit insurance, you may speak to an FDIC representative by calling 1-800-234-9027 or visit EDIE, the FDIC's Electronic Deposit Insurance Estimator.

[osoab]

FDIC running out of money to close banks? (dunno smiley)

No banks today.

One credit union. No numbers posted on the assets. They were taken over by the feds not given to another entity.

NCUA Places BCT Federal Credit Union into Conservatorship 6/10/2011 (http://www.ncua.gov/news/press_releases/2011/MR11-0610BCTConservatorship.pdf)

[Ponce]

Well "El Banco De Ponce" is still doing good......one in Puerto Rico and one in NY City.

[osoab]

2 down tonight.


PR-105-2011 Stonegate Bank, Fort Lauderdale, Florida, Assumes All of the Deposits of First Commercial Bank of Tampa Bay, Tampa, Florida (http://www.fdic.gov/news/news/press/2011/pr11105.html)


PR-104-2011 Hamilton State Bank, Hoschton, Georgia, Assumes All of the Deposits of McIntosh State Bank, Jackson, Georgia (http://www.fdic.gov/news/news/press/2011/pr11104.html)

The one in Georgia was near 25% undercapitalized, and that number could balloon up 75%

The one in Tampa Bay at least 30% undercapitalized.

[osoab]

Wow, weird turn of events sort of. 1 bank and 4 credit unions bite the dust.



NCUA Places O.U.R. Federal Credit Union into Conservatorship (http://www.ncua.gov/news/press_releases/2011/MR11-0624OUR.pdf)6/24/2011
NCUA Places Borinquen Federal Credit Union into Conservatorship (http://www.ncua.gov/news/press_releases/2011/MR11-0624Borinquen.pdf)6/24/2011
NCUA Pone Borinquen Federal Credit Union en Estado de Tener Conservador (http://www.ncua.gov/news/press_releases/2011/MR11-0624BorinquenSPANISH.pdf)6/24/2011
St. James A.M.E. Federal Credit Union Purchased by North Jersey FCU (http://www.ncua.gov/news/press_releases/2011/MR11-0624StJames.pdf)6/24/2011




June 24, 2011

PR-110-2011 First American Bank and Trust Company, Athens, Georgia, Assumes All of the Deposits of Mountain Heritage Bank, Clayton, Georgia (http://www.fdic.gov/news/news/press/2011/pr11110.html)

[osoab]

Nada, zip, zilch.

I think the same thing happened last 4th weekend. Must not want to pay overtime.

[osoab]

Crap, I forgot to post last Friday's.

For last week we had 3 banks and one CU.

PR-119-2011 Points West Community Bank, Julesburg, Colorado, Assumes All of the Deposits of Signature Bank, Windsor, Colorado (http://www.fdic.gov/news/news/press/2011/pr11119.html)

R-118-2011 First-Citizens Bank & Trust Company, Raleigh, North Carolina, (http://www.fdic.gov/news/news/press/2011/pr11118.html)
Assumes All of the Deposits of Colorado Capital Bank, Castle Rock, Colorado (http://www.fdic.gov/news/news/press/2011/pr11118.html)

PR-117-2011 Northbrook Bank & Trust Company, Northbrook, Illinois, Assumes All of the Deposits of First Chicago Bank & Trust, Chicago, Illinois (http://www.fdic.gov/news/news/press/2011/pr11117.html)
Borinquen Federal Credit Union Closes (http://www.ncua.gov/news/press_releases/2011/MR11-0708BorinquenLiquidates.pdf)7/8/2011


We had another CU posted as taken over on Monday.

Vensure Federal Credit Union Closes (http://www.ncua.gov/news/press_releases/2011/MR11-0711Vensure.pdf)7/11/2011

For this week. So far 3 banks

PR-120-2011 Ameris Bank, Moultrie, Georgia, Acquires All the Deposits of Two Georgia Institutions (http://www.fdic.gov/news/news/press/2011/pr11120.html)

PR-121-2011 Premier American Bank, National Association, Miami, Florida, Assumes All of the Deposits of First Peoples Bank, Port Saint Lucie, Florida (http://www.fdic.gov/news/news/press/2011/pr11121.html)



One more for this evening. That's four for today.

PR-122-2011 The Foothills Bank, Yuma, Arizona, Assumes All of the Deposits of Summit Bank, Prescott, Arizona (http://www.fdic.gov/news/news/press/2011/pr11122.html)

[osoab]

So far 3 banks.

PR-124-2011 Bank Midwest, National Association, Kansas City, Missouri, Assumes All of the Deposits of Bank of Choice, Greeley, Colorado (http://www.fdic.gov/news/news/press/2011/pr11124.html)

PR-123-2011 American Momentum Bank, Tampa, Florida, Acquires All the Deposits of Two Florida Banks (http://www.fdic.gov/news/news/press/2011/pr11123.html)

& One Credit union

Saguache County Credit Union Placed under NCUA's Conservatorship (http://www.ncua.gov/news/press_releases/2011/MR11-0722SaguacheConservatorship.pdf)7/22/2011

[mick silver]

the bank of the usa gov

[osoab]

Here is last week's

3 banks.

PR-128-2011 Old National Bank, Evansville, Indiana, Assumes All of the Deposits of Integra Bank, National Association, Evansville, Indiana (http://www.fdic.gov/news/news/press/2011/pr11128.html)

PR-127-2011 SCBT, National Association, Orangeburg, South Carolina, Assumes All of the Deposits of BankMeridian, N.A., Columbia, South Carolina (http://www.fdic.gov/news/news/press/2011/pr11127.html)

PR-126-2011 Xenith Bank, Richmond, Virginia, Assumes All of the Deposits of Virginia Business Bank, Richmond, Virginia (http://www.fdic.gov/news/news/press/2011/pr11126.html)


And this week. Only 2.

PR-132-2011 Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of Bank of Whitman, Colfax, Washington (http://www.fdic.gov/news/news/press/2011/pr11132.html)
PR-131-2011 Heartland Bank and Trust Company, Bloomington, Illinois, Assumes All of the Deposits of Bank of Shorewood, Shorewood, Illinois (http://www.fdic.gov/news/news/press/2011/pr11131.html)

Oh and it is credit failure Friday too. ;D

[Twisted Titan]

Is Shelia Bair getting replaced????

[osoab]

Only one bank this evening. No Credit Unions.

PR-134-2011 Enterprise Bank & Trust, Clayton, Missouri, Assumes All of the Deposits of First National Bank of Olathe, Olathe, Kansas (http://www.fdic.gov/news/news/press/2011/pr11134.html)

[osoab]

Is Shelia Bair getting replaced????


She quit effective July 8.

Her replacement is.
http://articles.latimes.com/2011/may/10/business/la-fi-bair-fdic-20110510


President Obama is expected to nominate a successor soon. The favorite is Martin J. Gruenberg, the vice chairman of the FDIC board, who served as acting chairman for about seven months before Bair's appointment.

[osoab]

So far 3 tonight and 1 on Thursday for the bankters.

None for Credit Unions.

Thursday.

PR-136-2011 Capital Bank, National Association, Rockville, Maryland, Assumes All of the Deposits of Public Savings Bank, Huntingdon Valley, Pennsylvania (http://www.fdic.gov/news/news/press/2011/pr11136.html)

This is why this one was closed on Thursday. http://www.publicsavings.com/PRpop001.html


The Officers, Trustees and Directors of Public Savings Bank and Gelt Holdings, Incorporated are proud to announce they have received regulatory approval to close for business on all Jewish Holidays (Yom Tovs). "Public Savings Bank is a Shomer Shabbos Bank guided by the principles and rulings of Torah business laws", according to Jack Miller, the Bank’s Chairman.Today.

PR-137-2011 Sabadell United Bank, National Association, Miami, Florida, Assumes All of the Deposits of Lydian Private Bank, Palm Beach, Florida (http://www.fdic.gov/news/news/press/2011/pr11137.html)

PR-138-2011 Heritage Bank of the South, Albany, Georgia, Assumes All of the Deposits of First Southern National Bank, Statesboro, Georgia (http://www.fdic.gov/news/news/press/2011/pr11138.html)

PR-139-2011 Inland Bank & Trust, Oak Brook, Illinois, Assumes All of the Deposits of First Choice Bank, Geneva, Illinois (http://www.fdic.gov/news/news/press/2011/pr11139.html)

[osoab]

None zip zilch nada last week for the bank and credit unions,

We have a twofer in the bank category for today.

PR-146-2011 Georgia Commerce Bank, Atlanta, Georgia, Acquires All the Deposits of Two Georgia Banks (http://www.fdic.gov/news/news/press/2011/pr11146.html)



No credit unions as of yet. Some weird article at the NCUA site about one of the credit union entities that was created for a failed one.
NCUA to Ensure Uninterrupted Service to Western Bridge Members (http://www.ncua.gov/news/press_releases/2011/MR11-0901WestBridge.pdf)9/1/2011

[osoab]

First one for today.

PR-149-2011 CharterBank, West Point, Georgia, Assumes All of the Deposits of The First National Bank of Florida, Milton, Florida (http://www.fdic.gov/news/news/press/2011/pr11149.html)

[platinumdude]

one is so lonely. Hopefully there are others.

[osoab]

one is so lonely. Hopefully there are others.

I don't think we get anymore. It is 5 pm out west though.

[boogietillyapuke]

First one for today.

PR-149-2011 CharterBank, West Point, Georgia, Assumes All of the Deposits of The First National Bank of Florida, Milton, Florida (http://www.fdic.gov/news/news/press/2011/pr11149.html)

Hey! That's my bank. :o

[osoab]

All must be good in the land of banks. No banks yet and no CU's

PR-152-2011 FDIC Announces Closing of Its Midwest Temporary Satellite Office in Schaumburg, Illinois (http://www.fdic.gov/news/news/press/2011/pr11152.html)

[platinumdude]

September 23, 2011 2 banks failed:

Citizens Bank of Northern California Nevada City CA
Bank of the Commonwealth Norfolk VA

[osoab]

September 23, 2011 2 banks failed:

Citizens Bank of Northern California Nevada City CA
Bank of the Commonwealth Norfolk VA

One credit union too.

NCUA Places Chetco Federal Credit Union into Conservatorship (http://www.ncua.gov/news/press_releases/2011/MR11-0923ChetcoConserved.pdf)9/23/2011

[platinumdude]

One bank failure for Sept 30th.

First International Bank Plano, TX American First National Bank


Two bank failures for October 7th:

Sun Security Bank Ellington, MO Great Southern Bank
The RiverBank Wyoming, MN Central Bank

[osoab]

four banks this week. no credit unions.


PR-167-2011 Blackhawk Bank & Trust, Milan, Illinois, Assumes All of the Deposits of Country Bank, Aledo, Illinois (http://www.fdic.gov/news/news/press/2011/pr11167.html)

PR-166-2011 Northfield Bank, Staten Island, New York, Assumes All of the Deposits of First State Bank, Cranford, New Jersey (http://www.fdic.gov/news/news/press/2011/pr11166.html)

PR-165-2011 Bank of North Carolina, Thomasville, North Carolina, Assumes All of the Deposits of Blue Ridge Savings Bank, Inc., Asheville, North Carolina (http://www.fdic.gov/news/news/press/2011/pr11165.html)

PR-164-2011 State Bank and Trust Company, Macon, Georgia, Assumes All of the Deposits of Piedmont Community Bank, Gray, Georgia (http://www.fdic.gov/news/news/press/2011/pr11164.html)

[platinumdude]

4 failed banks this week

Community Banks of Colorado Greenwood Village, CO
Community Capital Bank Jonesboro, GA
Decatur First Bank Decatur, GA
Old Harbor Bank Clearwater, FL

[platinumdude]

1 Bank failed this week.

All American Bank, Des Plaines, IL


One credit union went under converatorship.

Birmingham Financial Federal Credit Union
Birmingham,AL 10/27/2011

[osoab]

Time to add in November and December.

This is probably the last of the closings for the year.
I don't see FDIC or NCUA closing any on two consecutive holiday weekends.



Banks

Dec 16
PR-194-2011 Summit Bank, National Association, Panama City, Florida, Assumes All of the Deposits of Premier Community Bank of the Emerald Coast, Crestview, Florida (http://www.fdic.gov/news/news/press/2011/pr11194.html)

PR-195-2011 Washington Federal, Seattle, Washington, Assumes All of the Deposits of Western National Bank, Phoenix, Arizona (http://www.fdic.gov/news/news/press/2011/pr11195.html)


Nov 18
PR-181-2011 First NBC Bank, New Orleans, Louisiana, Assumes All of the Deposits of Central Progressive Bank, Lacombe, Louisiana (http://www.fdic.gov/news/news/press/2011/pr11181.html)

PR-180-2011 Grinnell State Bank, Grinnell, Iowa, Assumes All of the Deposits of Polk County Bank, Johnston, Iowa (http://www.fdic.gov/news/news/press/2011/pr11180.html)


Nov 10
PR-178-2011 Century Bank of Georgia, Cartersville, Georgia, Assumes All of the Deposits of Community Bank of Rockmart, Rockmart, Georgia (http://www.fdic.gov/news/news/press/2011/pr11178.html)


Nov 4
PR-176-2011 Purdum State Bank, Purdum, Nebraska, Assumes All of the Deposits of Mid City Bank, Inc., Omaha, Nebraska (http://www.fdic.gov/news/news/press/2011/pr11176.html)

PR-177-2011 Cache Valley Bank, Logan, Utah, Assumes Deposits of SunFirst Bank, Saint George, Utah (http://www.fdic.gov/news/news/press/2011/pr11177.html)




Credit Unions

Dec 14, 2011
NCUA Grants Catalyst Corporate the Right to Acquire Western Bridge Corporate (http://www.ncua.gov/News/Pages/NW20111214CatalystWBridge.aspx)

Dec 02, 2011
O.U.R. Federal Credit Union Purchased by Northwest Community Credit Union (http://www.ncua.gov/News/Pages/NW20111202OURFCU.aspx)


Nov 30, 2011
BCT Federal Credit Union Purchased by Visions Federal Credit Union (http://www.ncua.gov/News/Pages/NW20111130BCT.aspx)

[osoab]

Time for the 2012 edition.

Just one CC for the weekend.

Jan 06, 2012
NCUA Places People for People CDCU into Conservatorship (http://www.ncua.gov/News/Pages/NW20120106PeopleCDCU.aspx)

[osoab]

none last week, the 14th.

Three banks this week. All of them were posted by 5:30 cst. All on the east coast.

running total @ 4 for the year, banks and cu's.


PR-7-2012 Capital Bank, National Association, Rockville, Maryland, Assumes All of the Deposits of American Eagle Savings Bank, Boothwyn, Pennsylvania (http://www.fdic.gov/news/news/press/2012/pr12007.html)

PR-6-2012 Hamilton State Bank, Hoschton, Georgia, Assumes All of the Deposits of the First State Bank, Stockbridge, Georgia (http://www.fdic.gov/news/news/press/2012/pr12006.html)

PR-5-2012 CenterState Bank of Florida, National Association, Winter Haven, Florida, Assumes All of the Deposits of Central Florida State Bank, Belleview, Florida (http://www.fdic.gov/news/news/press/2012/pr12005.html)

[mick silver]

when they close a bank it just moves to the hands of the big banker . nothing really happen but move it to the new owners

[osoab]

4 banks down for tonight already.

year running total @ 8


PR-13-2012 U.S. Bank National Association, Cincinnati, Ohio, Assumes All of the Deposits of BankEast, Knoxville, Tennessee (http://www.fdic.gov/news/news/press/2012/pr12013.html)

PR-12-2012 First Resource Bank, Savage, Minnesota, Assumes All of the Deposits of Patriot Bank Minnesota, Forest Lake, Minnesota (http://www.fdic.gov/news/news/press/2012/pr12012.html)

PR-11-2012 Republic Bank & Trust Company, Louisville, Kentucky, Assumes All of the Deposits of Tennessee Commerce Bank, Franklin, Tennessee (http://www.fdic.gov/news/news/press/2012/pr12011.html)

PR-10-2012 Centerstate Bank of Florida, National Association, Winter Haven, Florida, Assumes All of the Deposits of First Guaranty Bank and Trust Company of Jacksonville, Jacksonville, Florida (http://www.fdic.gov/news/news/press/2012/pr12010.html)

edit

Looks like that was it for the day 4 banks and no cu's

[osoab]

No banks or cu's this week.

I did miss a cu from Jan. 27.

Jan 27, 2012
Eastern New York Federal Credit Union Purchased by USAlliance Federal Credit Union (http://www.ncua.gov/News/Pages/NW20120127EasternNYFCU.aspx)

That puts the running total for 2012 @ 9.

Links for the closings.

http://www.ncua.gov/News/Pages/AllNewsSummary.aspx

http://www.fdic.gov/news/news/press/2012/index.html

[Spectrism]

Let's see....

Georgia judge is frightened shitless into declaring that Obama (inspite of non-appearance) is eligible to run in GA's primary.
Stock market keeps going up no matter what news comes out and no matter what the Euro does anymore.
The news media continues to lie worse than Soviet Russia ever did.
The federal reserve admits to having given $17trillion to banks interest free.
The controllers are trying to get everybody hyped up for WW3.

Can any decent sized bank really fail?

[osoab]

Looks like two banks and no credit unions in this latest installment of bank failure friday.

Running total is at 11 for 2012.

PR-18-2012 First Merchants Bank, National Association, Muncie, Indiana, Assumes All of the Deposits of SCB Bank, Shelbyville, Indiana (http://www.fdic.gov/news/news/press/2012/pr12018.html)

PR-17-2012 Barrington Bank & Trust Company, National Association, Barrington, Illinois, Assumes All of the Deposits of Charter National Bank and Trust, Hoffman Estates, Illinois (http://www.fdic.gov/news/news/press/2012/pr12017.html)

[Spectrism]

Looks like two banks and no credit unions in this latest installment of bank failure friday.

Running total is at 11 for 2012.

PR-18-2012 First Merchants Bank, National Association, Muncie, Indiana, Assumes All of the Deposits of SCB Bank, Shelbyville, Indiana (http://www.fdic.gov/news/news/press/2012/pr12018.html)

PR-17-2012 Barrington Bank & Trust Company, National Association, Barrington, Illinois, Assumes All of the Deposits of Charter National Bank and Trust, Hoffman Estates, Illinois (http://www.fdic.gov/news/news/press/2012/pr12017.html)

This is like a patient being wheeled into the ER with multiple gunshot wounds and the highly trained team of specialists concentrate only on a manicure- and there is no cure about it.

http://tyillc.blogspot.com/2011/12/deloitte-confirms-europes-banks.html
Wednesday, December 7, 2011

Deloitte confirms Europe's banks insolvent, estimates they have 1.5 trillion pounds of toxic assets



According to a Telegraph article (http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8941477/Europes-banks-have-1.5-trillion-of-toxic-assets.html),


Europe's banks must dispose of a pool of toxic assets larger than the entire British economy if they are to return to profitability and meet new capital rules.



The article goes on to say,




Estimates from accountants Deloitte found that European banks currently hold more than £1.5 trillion of non-core and non-performing assets on their balance sheets. From the article's headline, it appears that there are 1.5 trillion pounds of non-performing assets. If so, it is highly likely that all the European banks are insolvent.

Deloitte said that while banks will have to dramatically shrink the size of their asset books they are likely to face major challenge in doing so given the scale of the bad loan problems they face.
British banks, despite beginning their disposal programmes much earlier than their Continental European peers, still have by far the biggest pile of toxic assets.
Deloitte estimates the size of the non-core and non-performing assets held on the balance sheets of UK banks at £460bn, more than the combined total for Ireland, Spain and Italy. German banks come a close second with a toxic asset pool of about £447bn. It is one thing for bank's to be a 'black box' when they have few non-performing or toxic assets. It is entirely another issue when banks clearly have so many non-performing or toxic assets that their solvency is highly questionable.

The time has come to require ultra transparency. Each bank must be required to disclose on an on-going basis its current asset, liability and off-balance sheet exposure details.

It is only with this information that the market can determine which banks are solvent and which are not.

It is only with this information that the market can properly assess the risk of the banks and adjust both the amount and price of their exposure to the banks.

It is only with this information that the market can exert discipline on the insolvent banks to keep their risk levels in check while they are retaining earnings to restore their solvency.

-=-----------------------------------------------

http://takeyourhomeback.com/?p=230

Mortgage paperwork mess: the next housing shock? (http://www.cbsnews.com/stories/2011/04/01/60minutes/main20049646.shtml?tag=cbsnewsSectionContent.1)

(CBS News) If there was a question about whether we’re headed for a second housing shock, that was settled last week with news that home prices have fallen a sixth consecutive month. Values are nearly back to levels of the Great Recession. One thing weighing on the economy is the huge number of foreclosed houses.
Many are stuck on the market for a reason you wouldn’t expect: banks can’t find the ownership documents.

UPDATE- FEB 10, 2012 - Here is what Register John OBrien had to say

What a sad day in America. I thought for once they would do the right thing and hold these banks accountable . I have been around along time and I can assure you that this is a deal for the banks and by the banks. It will not benefit the homeowner or the taxpayer. What do I tell the 32000 people in my registry who have fraudulent documents call the AG?? They are sending the message that the big guys can do whatever they want and and get away with it. Let us not forget that people who have lost there home with fraudulent documents will be given two thousand dollars and a wish of good luck. How criminal and sad. Principal reductions of 25000 will not solve the housing crisis. Remember that it was these banks who came up with no doc loans,sub prime mortgages and set people up for failure from day one. The taxpayers lost 250 million in recording fees that these banks did not pay. We need a grand jury to investigate the criminal fraud just like Boone County did. Sadly a year from now we will be still faced with the same issues. These banks will continue to do what they want. I am sure that later today they will be sitting in the boardroom patting each other on the back for a job well done. I suspect they will be giving out bonuses to each other in a week or so.I will continue to do my job and not record fraud. I will continue to expose this scheme to anyone who will listen. If they think I am going away they are sadly mistaken. The fight will continue because it is the right thing to do
It’s bizarre but, it turns out, Wall Street cut corners when it created those mortgage-backed investments that triggered the financial collapse. Now that banks want to evict people, they’re unwinding these exotic investments to find, that often, the legal documents behind the mortgages aren’t there. Caught in a jam of their own making, some companies appear to be resorting to forgery and phony paperwork to throw people – down on their luck – out of their homes.

more at link.


===================================

If they let loose on true accounting and enforced laws, all the major banks would suddenly be shut down.

[joe_momma]

what happened to that Joe guy that used to do these ?

Still around - though not on as much as I used to be.

I stopped the BFF contest early last year when it became clear that the FDIC was perfectly willing to bend any capital requirement rules to keep the numbers low. To be honest, with the FDIC intervention, BFF was a lot like betting on a Harlem Globetrotters game.

I might start up a new contest for picking dates for the following:
- Greece announces they will miss their bond payment
- A "credit event" is invoked (which means payouts on all those credit default swaps JPM sold)
- The day that Greece unveils the new "drachma"

I could leverage this series for several more repetitions - first the remainder of the PIIGS, but ending with the US (though of course, for the US it will be the new "amero").



(Though I still think we're overdue for a 9+ Whoopsie!)

[osoab]

Time for the weekly addition.

No banks and one credit union for the week.

Running total at 12 for the year.

Feb 17, 2012
A M Community Credit Union Placed under NCUA Conservatorship (http://www.ncua.gov/News/Pages/NW20120217AMCCU.aspx)

[osoab]

So it looks like we lost 2 banks on Friday.

PR-22-2012 FDIC Approves the Payout of the Insured Deposits of Home Savings of America, Little Falls, Minnesota (http://www.fdic.gov/news/news/press/2012/pr12022.html)

PR-21-2012 Ameris Bank, Moultrie, Georgia, Assumes All of the Deposits of Central Bank of Georgia, Ellaville, Georgia (http://www.fdic.gov/news/news/press/2012/pr12021.html)

We also had a credit union that was taken over on Sunday. Weird day for a take over.

Feb 19, 2012
People for People CDCU Purchased by TruMark Financial Credit Union (http://www.ncua.gov/News/Pages/NW20120219People.aspx)

That is a running total of 15 for the year.

[osoab]

Here's the last two weeks worth. No credit unions that I could find.

Running total is at 17 for the year with the below added.

One bank on March 2

PR-25-2012 Metro City Bank, Doraville, Georgia, Assumes All of the Deposits of Global Commerce Bank, Doraville, Georgia (http://www.fdic.gov/news/news/press/2012/pr12025.html)

One bank on March 9

PR-29-2012 FDIC Approves the Payout of the Insured Deposits of New City Bank, Chicago, Illinois (http://www.fdic.gov/news/news/press/2012/pr12029.html)

[osoab]

Nada for this week at this point this evening for either banks or cu's. It is 5:30 West coast time, so I don't expect any announcements to show up later tonight.

[osoab]

The banks and cc's from this past Friday and one cc from today.

banks
PR-33-2012 International Bank of Chicago, Chicago, Illinois, Assumes All of the Deposits of Premier Bank, Wilmette, Illinois (http://www.fdic.gov/news/news/press/2012/pr12033.html)

PR-32-2012 Stearns Bank, National Association, St. Cloud, Minnesota, Assumes All of the Deposits of Covenant Bank & Trust, Rock Spring, Georgia (http://www.fdic.gov/news/news/press/2012/pr12032.html)


cc's
Mar 26, 2012
Shepherd’s Federal Credit Union Closes (http://www.ncua.gov/News/Pages/NW20120326ShepherdsFCU.aspx)

March 23,2012
Telesis Community Credit Union Under NCUA Conservatorship (http://www.ncua.gov/News/Pages/NW20120323TelesisConservatorship.aspx)

Mar 23, 2012
Saguache County Member Accounts Purchased by Aventa Credit Union (http://www.ncua.gov/News/Pages/NW20120323SaguacheLiquidation.aspx)
Mar 23, 2012 (http://www.ncua.gov/News/Pages/NW20120323SaguacheLiquidation-Spanish.aspx)

Running total @ 22 for the year. 22% increase. :o
(http://www.ncua.gov/News/Pages/NW20120323SaguacheLiquidation-Spanish.aspx)

[mick silver]

now i can go to facebook to see when my bank go's down ... yahooooooooo

[osoab]

Just one bank so far. I doubt if anymore show up tonight. This one might not help with the Buckeye/Michigan rivalry.

They must be getting ready to take down JPM. ::)

PR-38-2012 The Huntington National Bank, Columbus, Ohio, Assumes All of the Deposits of Fidelity Bank, Dearborn, Michigan (http://www.fdic.gov/news/news/press/2012/pr12038.html)

[osoab]

Zero banks last week and this week so far.

Zero Credit Unions for the last two weeks too.

Running total for the year @ 23.

[BabushkaLady]

Five Banks this week:

Palm Desert National Bank Palm Desert CA 23632 Pacific Premier Bank April 27, 2012 April 27, 2012
Plantation Federal Bank Pawleys Island SC 32503 First Federal Bank April 27, 2012 April 27, 2012
Inter Savings Bank, fsb D/B/A InterBank, fsb, Maple Grove MN 31495 Great Southern Bank April 27, 2012 April 27, 2012
HarVest Bank of Maryland Gaithersburg MD 57766 Sonabank April 27, 2012 April 27, 2012
Bank of the Eastern Shore Cambridge MD 26759 No Acquirer April 27, 2012 April 27, 2012

And one on April 20:
Fort Lee Federal Savings Bank, FSB, Fort Lee, NJ 35527 Alma Bank April 20, 2012

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

[osoab]

Time to update this thread, I have been lax.


I am going to start with the week of April 20.

The Banks

April 20

PR-43-2012 Alma Bank, Astoria, New York, Assumes All of the Deposits of Fort Lee Federal Savings Bank, FSB, Fort Lee, New Jersey (http://www.fdic.gov/news/news/press/2012/pr12043.html)


April 27 (repeat of Babuska Lady's post)
PR-50-2012 Pacific Premier Bank, Costa Mesa, California, Assumes All of the Deposits of Palm Desert National Bank, Palm Desert, California (http://www.fdic.gov/news/news/press/2012/pr12050.html)

PR-49-2012 First Federal Bank, Charleston, South Carolina, Assumes All of the Deposits of Plantation Federal Bank, Pawleys Island, South Carolina (http://www.fdic.gov/news/news/press/2012/pr12049.html)

PR-48-2012 Great Southern Bank, Reeds Spring, Missouri, Assumes All of the Deposits of Inter Savings Bank, fsb D/B/A Interbank, fsb, Maple Grove, Minnesota (http://www.fdic.gov/news/news/press/2012/pr12048.html)

PR-47-2012 Sonabank, McLean, Virginia, Assumes All of the Deposits of HarVest Bank of Maryland, Gaithersburg, Maryland (http://www.fdic.gov/news/news/press/2012/pr12047.html)

PR-46-2012 FDIC Creates a Deposit Insurance National Bank of Eastern Shore to Protect Insured Depositors of Bank of the Eastern Shore, Cambridge, Maryland (http://www.fdic.gov/news/news/press/2012/pr12046.html)


May 4
PR-52-2012 Banesco USA, Coral Gables, Florida, Assumes All of the Deposits of Security Bank, National Association, North Lauderdale, Florida (http://www.fdic.gov/news/news/press/2012/pr12052.html)


May 18th
PR-57-2012 Southern States Bank, Anniston, Alabama, Assumes All of the Deposits of Alabama Trust Bank, National Association,Sylacauga, Alabama (http://www.fdic.gov/news/news/press/2012/pr12057.html)



June 8
PR-67-2012 First Community Bank, Bluefield, Virginia, Assumes All of the Deposits of Waccamaw Bank, Whiteville, North Carolina (http://www.fdic.gov/news/news/press/2012/pr12067.html)

PR-66-2012 First State Bank, Mendota, Illinois, Assumes All of the Deposits of Farmers and Traders State Bank, Shabbona, Illinois (http://www.fdic.gov/news/news/press/2012/pr12066.html)

PR-65-2012 Bank of North Carolina, Thomasville, North Carolina, Assumes All of the Deposits of Carolina Federal Savings Bank, Charleston, South Carolina (http://www.fdic.gov/news/news/press/2012/pr12065.html)

PR-64-2012 F & M Bank, Edmond, Oklahoma, Assumes All of the Deposits of First Capital Bank, Kingfisher, Oklahoma (http://www.fdic.gov/news/news/press/2012/pr12064.html)


and June 15 so far
PR-71-2012 Clayton Bank and Trust, Knoxville, Tennessee, Assumes All of the Deposits of the Farmers Bank of Lynchburg, Lynchburg, Tennessee (http://www.fdic.gov/news/news/press/2012/pr12071.html)

PR-70-2012 Fidelity Bank, Atlanta, Georgia, Assumes All of the Deposits of Security Exchange Bank, Marietta, Georgia (http://www.fdic.gov/news/news/press/2012/pr12070.html)

PR-69-2012 Harbor Community Bank, Indiantown, Florida, Assumes All of the Deposits of Putnam State Bank, Palatka, Florida (http://www.fdic.gov/news/news/press/2012/pr12069.html)



The Credit Unions. only one

May 18, 2012
Wausau Postal Employees Credit Union Purchased by CoVantage Credit Union (http://www.ncua.gov/News/Pages/NW20120518WausauPostal.aspx)


39 now for the running total of the year if my addition is correct.

I did spy this in the press releases of ncua.
Jun 01, 2012
Credit Union Industry Assets Top $1 Trillion (http://www.ncua.gov/News/Pages/NW20120601AssetsTrillion.aspx)

[osoab]

No failures last week and none so far this week.

running total is still 39 for the year.

[MNeagle]

This great recovery must mean no more banks will ever close again!!

[osoab]

Shit, It's been almost 2 years since I last posted in the thread.

I just checked the FDIC website. They have a link to a bank failure list right up on the main page. Used to be in the press releases only.

Only 14 banks closed so far this year. None since July.

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

[Neuro]

Shit, It's been almost 2 years since I last posted in the thread.

I just checked the FDIC website. They have a link to a bank failure list right up on the main page. Used to be in the press releases only.

Only 14 banks closed so far this year. None since July.

https://www.fdic.gov/
https://www.fdic.gov/bank/individual/failed/banklist.html
The crisis has been solved. Consolidation of the bank industry to the worst offenders works, the too big to fail...

[osoab]

So I just checked what the latest and greatest failures are and they are very, very light.

Only 18 total banks for 2014.


So far four banks this year. The last one was on Feb 27th.

In order from the first of the year:
First National Bank of Crestview (https://www.fdic.gov/bank/individual/failed/fnbcrestview.html)

Highland Community Bank (https://www.fdic.gov/bank/individual/failed/highlandcomm.html)

Capitol City Bank & Trust Company (https://www.fdic.gov/bank/individual/failed/capitolcity.html)

Doral Bank (https://www.fdic.gov/bank/individual/failed/doral.html)
En Espanol (https://www.fdic.gov/bank/individual/failed/doral_spanish.html)




For 2015 only one credit unions has closed if I have counted correctly.
http://www.ncua.gov/News/Pages/AllNewsSummary.aspx


Mar 31, 2015
North Dade Community Development Federal Credit Union Closes (http://www.ncua.gov/News/Pages/NW20150331Liquidation.aspx)

The 2014 total for credit unions is 8 or 9. I lost track.
http://www.ncua.gov/News/Pages/News2014.aspx

[osoab]

I guess this is the yearly update. I just looked up the credit union site. They updated and have a direct link to closed institutions.

So credit unions. Closed Credit Unions (https://www.ncua.gov/services/Pages/closed-credit-unions.aspx)

For 2015 (https://www.ncua.gov/services/Pages/closed-credit-unions/2015.aspx), it looks like 21 closed up shop in one or another.

For 2016 (https://www.ncua.gov/services/Pages/closed-credit-unions/2016.aspx), 15 have closed so far. I don't know what happened in PA last weekend. All of the below closed on April 5th.


Cardozo Lodge Federal Credit Union (https://www.ncua.gov/newsroom/Pages/news-2016-april-liquidation.aspx)
Chester Upland School Employees Federal Credit Union (https://www.ncua.gov/newsroom/Pages/news-2016-april-liquidation.aspx)
Electrical Inspectors Federal Credit Union (https://www.ncua.gov/newsroom/Pages/news-2016-april-liquidation.aspx)
O P S EMP Federal Credit Union (https://www.ncua.gov/newsroom/Pages/news-2016-april-liquidation.aspx)
Servco Federal Credit Union (https://www.ncua.gov/newsroom/Pages/news-2016-april-liquidation.aspx)
Triangle Interests % Service Center Federal Credit Union (https://www.ncua.gov/newsroom/Pages/news-2016-april-liquidation.aspx)




For the banks.

The website hasn't changed. FDIC Failed Bank List (https://www.fdic.gov/bank/individual/failed/banklist.html)

Only 8 closed in 2015. The last being in October.

Only 1 has closed so far in 2016. That was in March.

Surprising.

[osoab]

There has not been one bank failure since December of 2017. It must be a good time to be in banking.

https://www.fdic.gov/buying/franchisemarketing/index.html