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.
The following analysis comes from JMMindset.com and covers the 38 banks closed by the FDIC between August 6, 2010, and November 12, 2010. So far this year, the FDIC has closed 146 banks. So far in this crisis, since 2007, it has closed 311 banks. Collectively, the 38 banks had stated assets of $13.78 billion [...]
Regulators closed banks in Florida, Georgia and New Mexico, awarding a third financial institution to Bond Street Holdings LLC, an investment firm that first bought banks in January. Bond Street’s Premier American Bank purchased Englewood, Florida-based Peninsula Bank, according to a statement on the Federal Deposit Insurance Corp.’s website. Yesterday’s three failures cost the agency’s [...]
After contending with nearly 240 bank failures since the financial crisis struck, the Federal Deposit Insurance Corporation is finally getting some help from private investors. A spate of recent banking takeovers and investments suggests that stronger financial institutions and private investment firms see value in the detritus of American banking. According to an article in [...]
On Friday, four more banks were shuttered by U.S. regulators. The failed banks were based in Georgia, Illinois, Michigan and Missouri. This brings the total number of bank failures to 72 so far in 2010, compared to 140 in 2009, 25 in 2008 and 3 in 2007. According an analysis by Zacks Equity Research, although [...]
A group of heavyweights in national banking circles could form a bank in Jacksonville by using more than $500 million in capital to buy up failed banks. The group seeking to form a national bank charter in Jacksonville already has about $528 million in cash, and includes former top executives from Bank of America Corp., [...]
According to an AP article, Regulators on Friday shut down banks in New York, Florida and Louisiana, raising to 30 the number of failures this year of federally insured banks. The Federal Deposit Insurance Corp. was appointed receiver of Park Avenue Bank in New York, Old Southern Bank in Orlando, Fla. and Statewide Bank in [...]
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 [...]
Six community banks failed Friday, bringing the 2010 tally of failed U.S. banking institutions to 15. Friday’s failures are expected to cost the Federal Deposit Insurance Corp.’s insurance fund a total of $1.9 billion. According to a story in TheStreet, all six failed institutions had been previously assigned E-minus (Very Weak) financial strength ratings by [...]
Losses on commercial real estate loans pose the biggest risk to U.S. banks this year, troubling smaller lenders while unlikely to threaten the entire financial system, U.S. bank examiners concluded during a review. “Losses from commercial real estate will be quite high by historic standards,” said Eugene Ludwig, former Comptroller of the Currency who is [...]
Investors are jostling for the chance to buy a $1.1 billion package of commercial real-estate loans extended by failed banks, as these once-toxic assets attract growing interest. More than a dozen investors, including Texas banker Andrew Beal, have submitted bids to the Federal Deposit Insurance Corp. for the portfolio of loans held by Franklin Bank, [...]