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.
Franklin Bank, SSB, Houston, Texas, with approximately $5.1 billion in total assets and $3.7 billion in total deposits, was closed. Prosperity Bank, El Campo, Texas has agreed to assume all deposits. (PR-113-2008)
Commerce Bank of Southwest Florida, Fort Myers, FL with approximately $79.7 million in assets and approximately $76.7 million in deposits was closed. Central Bank, Stillwater, MN has agreed to assume all deposits, excluding certain brokered deposits. (PR-211-2009)
Set aside, for a moment, Jamie Dimon’s argument that the United States’ “too big to fail” policy should end — albeit not by capping the size of American banks.
According to an article by Kevin Dobbs on SNL.com, a growing number of community bankers and industry experts say the heart of the problem is simple: No [...]
The October 2009 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of and demand for loans to businesses and households over the past three months. The survey also included three sets of special questions: The first asked banks about the reasons for the decline in commercial and industrial (C&I) [...]
According to an AP story, regulators shut down two banks in Florida and one in California on Friday, boosting to 123 the number of U.S. bank failures this year as loan defaults rise in the worst financial climate in decades.
The Federal Deposit Insurance Corp. took over Orion Bank, based in Naples, Fla., with about $2.7 [...]
Pacific Coast National Bank, San Clemente, California, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Sunwest Bank, Tustin, California, to assume all of the [...]
Orion Bank, Naples, Florida, was closed by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with IBERIABANK, Lafayette, Louisiana, to assume all of the deposits of Orion Bank. As of October 31, 2009, Orion [...]
Century Bank, Federal Savings Bank, Sarasota, Florida, was by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with IBERIABANK, Lafayette, Louisiana, to assume all of the deposits of Century Bank, FSB. As of [...]
Struggling banks in need of deposits will soon face another hurdle that could hasten failures.
According to Kevin Dobbs and Russ Yates on SNL.com, beginning Jan. 1, banks that the FDIC regards as short of “well capitalized” will not be allowed to pay more than 75 basis points above the U.S. average rate for deposits, a [...]
These are the most recent guidelines as of January 2009. They give you a good idea of what the FDIC expects to pay for you being on the road.
Please feel free to post any tips or tricks you would like to share on how to stretch your per diem or deal with life on [...]
