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.
Rainier Pacific Bank, Tacoma, WA with approximately $717.8 million in assets and approximately $446.2 million in deposits was closed. Umpqua Bank, Roseburg, OR has agreed to assume all deposits, excluding certain brokered deposits. (PR-041-2010)
Carson River Community Bank, Carson City, NV with approximately $51.1 million in assets and approximately $50.0 million in deposits was closed. Heritage Bank of Nevada, Reno, NV has agreed to assume all deposits, excluding certain brokered deposits. (PR-040-2010)
The Federal Deposit Insurance Corporation is bracing for a new wave of bank failures that could cost the agency many billions of dollars and further strain its finances, according to an article in the NY Times. Sheila C. Bair said the F.D.I.C. expected bank failures to peak in 2010, and “we think that we have the [...]
La Jolla Bank, FSB, La Jolla, CA with approximately $3.8 billion in assets and approximately $2.8 billion in deposits was closed. OneWest Bank, FSB, Pasadena, CA has agreed to assume all deposits. (PR-034-2010)
The La Coste National Bank, La Coste, TX with approximately $53.9 million in assets and approximately $49.3 million in deposits was closed. Community National Bank, Hondo, TX has agreed to assume all deposits. (PR-032-2010)
George Washington Savings Bank, Orland Park, IL with approximately $412.8 million in assets and approximately $397.0 million in deposits was closed. FirstMerit Bank, N.A., Akron, OH has agreed to assume all deposits. (PR-033-2010)
Marco Community Bank, Marco Island, FL with approximately $119.6 million in assets and approximately $117.1 million in deposits was closed. Mutual of Omaha Bank, Omaha, NE has agreed to assume all deposits, excluding certain brokered deposits. (PR-031-2010)
1st American State Bank of Minnesota, Hancock, MN with approximately $18.2 million in assets and approximately $16.3 million in deposits was closed. Community Development Bank, FSB, Ogema, MN has agreed to assume all deposits. (PR-030-2010)
