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Copper Catcher
Administrator
USA
2092 Posts |
 Posted - 06/04/2010 : 17:22:56
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Arcola Homestead Savings Bank Arcola IL
As of March 31, 2010, Arcola Homestead Savings Bank had approximately $17.0 million in total assets and $18.1 million in total deposits. At the time of closing, there did not appear to be any uninsured funds.
First National Bank Rosedale MS
As of March 31, 2010, First National Bank had approximately $60.4 million in total assets and $63.5 million in total deposits. The Jefferson Bank did not pay the FDIC a premium for the deposits of First National Bank. In addition to assuming all of the deposits of the failed bank, The Jefferson Bank agreed to purchase essentially all of the assets.
The FDIC and The Jefferson Bank entered into a loss-share transaction on $43.5 million of First National Bank's assets. The Jefferson Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on theassets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: You must be logged in to see this link.
A side bar note:
In the five years prior to 2008, only 11 banks had failed
2008 25 failed
2009 140 failed
2010 79 and lots more to come!
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 06/04/2010 : 21:01:09
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On February 23, 2010, FDIC chairman Sheila Bair warned that number of failures in 2010 could surpass the 140 banks that were seized in 2009. Commercial Real Estate overexposure has now been deemed the most serious threat to banks in 2010.
Keep in mind the government already backs has +95% of all home mortgages.
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 06/04/2010 : 21:41:07
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add a third to todays list...
TierOne Bank Lincoln NE
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My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
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brian0918
Penny Collector Member
USA
315 Posts |
Posted - 06/05/2010 : 08:23:39
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At this time last year, only 39 banks had failed for 2009. June and July added 32 more. August and September added 26 more. October and November added 29. Then another 16 in December.
At this rate we can easily break 170 and maybe 180. |
"The man who speaks to you of sacrifice, speaks of slaves and masters. And intends to be the master." -- Ayn Rand
Searched: $2230 Nickels; Liberty: 1; Buffalo: 4; War: 20; 2009: 2; 2010D: 8 |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 06/05/2010 : 08:45:42
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| I predict over 200 by year end! |
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brian0918
Penny Collector Member
USA
315 Posts |
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Copper Catcher
Administrator
USA
2092 Posts |
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FDIC Fridays! More bite the dust....
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