FDIC Chairwoman Bair Too big to fail has become worse. Its become explicit when it was implicit before.
Treasury Sec. Geithner Most consequential choices involve shades of gray, and some fog is often useful in getting things done.
According to a story in the Ventura County Star, ss Affinity Bank reopened Monday, customer Karen Socher paused outside the door of the Mills Road branch in Ventura to read the Federal Deposit Insurance Corp.’s announcement that the bank had been seized and sold to San Diego-based Pacific Western Bank. It was all news to [...]
Former employees of failed banks could be just the experts needed to help the FDIC sort through those banks’ affairs. According to an article by J. Scott Trubey in the Atlanta Journal, it’s not just the big banks that are in trouble. Community and regional banks are also struggling under the weight of bad Acloans. [...]
Fri Aug 28, 2009 9:49pm EDT According to an August 28, 2009 story in Reuters , three more U.S. banks failed on Friday, bringing the total to 84 so far this year, as the industry continues to grapple with deteriorating loans on their books. Regulators shuttered Affinity Bank of Ventura, California, Bradford Bank in Baltimore, [...]
First State Bank, Sarasota, Florida, with approximately $463 million in assets, was closed. Stearns Bank, N.A., St. Cloud, MN, has agreed to assume all deposits, excluding certain brokered deposits (approximately $387 million). (PR-139-2009)
Community National Bank of Sarasota County, Venice, Florida, with approximately $97 million in assets, was closed. Stearns Bank, N.A., St. Cloud, MN, has agreed to assume all deposits (approximately $93 million). (PR-140-2009)
Community First Bank, Prineville, Oregon, with approximately $209 million in total assets, was closed. Home Federal Bank, Nampa, ID, has agreed to assume all deposits, excluding certain brokered deposits (approximately $182 million). (PR-141-2009)
Dwelling House Savings and Loan Association, Pittsburgh, Pennsylvania, with approximately $13.4 million in assets, was closed. PNC Bank, Pittsburgh, PA, has agreed to assume all deposits (approximately $13.8 million). (PR-142-2009)
Colonial Bank, Montgomery, Alabama, with approximately $25 billion in assets, was closed. Branch Banking and Trust Company (BB&T), Winston-Salem, NC, has agreed to assume all deposits (approximately $20 billion). (PR-143-2009)
Union Bank, N.A., Gilbert, Arizona, with approximately $124 million in assets and approximately $112 in deposits was closed. MidFirst Bank, Oklahoma City, OK, has agreed to assume all non-brokered deposits. (PR-144-2009)
Community Bank of Arizona, Phoenix, Arizona, with approximately $158.5 million in total assets, was closed. MidFirst Bank, Oklahoma City, OK, has agreed to assume all deposits, excluding certain brokered deposits (approximately $143.8 million). (PR-145-2009)
