Related Blog Posts
Independent Bankers’ Bank, Springfield, Illinois
12 hours ago ago from Bank-Implode!
The FDIC shuttered Independent Bankers' Bank, Springfield, Illinois , but takers were scarce so the agency created a bridge bank for the purpose. The agency estimates that the cost to the Deposit Insurance Fund will be $68.4 million. The Federal Deposit Insurance Corporation (FDIC) created a bridge bank to take over the operations of Independent Bankers' Bank, Springfield, Illinois, after the bank was closed today by the Illinois ...
Related contentThis Week in Bank Failures
15 hours ago ago from The Shamanic Economist
Tonight is the finale for bank failures in 2009 as the year winds down. With the wheels of commerce slowing down for two holiday weekends, more bank failures will happen only if something sudden and unexpected occurs at a particular bank. There were 140 bank failures in 2009, five times the pace of 2008. If past bank failure episodes are a guide, the number of failures will double in 2010, and the end of 2010 will mark the midpoint of the ...
Related contentUS Finanacial : OneWest Bank takes over First Federal, six other banks shut
10 hours ago ago from US Post Today.
first federal bank of california LOS ANGELES, Dec 18 (Reuters) First Federal Bank of California was one of seven U.S. lenders closed on Friday by regulators and its $6.1 billion in assets were assumed by OneWest Bank. The closures bring the total number of U.S. bank failures this year to 140. This year has marked the highest annual level of bank failures since 1992, when the industry was still cleaning up from the savings and ...
Related contentBank of America pledges $5 billion more for small businesses
16 hours ago ago from Finance and Economic
Bank of America pledged Monday to increase its lending to small and medium sized businesses by $5 billion next year. The announcement immediately followed a White House meeting at which President Obama pressured the nation's biggest bailed-out banks to start reinvesting in the rest of the economy. Bank of America is determined to do our part to help the economy grow next year and reduce unemployment by making every good loan we can make, ...
Related contentRegulators Shut Down Banks In 5 States
3 hours ago ago from Detroit Daily News
Home Classifieds Archives Sitemap Contact News Sports Entertainment Money Health Politics Technology Travel Categorized | Money , News Regulators Shut Down Banks In 5 States Posted on19 December 2009. Tags: banking , bridge-commercial , country , Georgia , government , loans , savings-bank , texas WASHINGTON Regulators upon Friday close down banks in Alabama, Florida, Georgia, ...
Related contentRelated News
Bank failure tally reaches 140
12 hours ago ago from CNN Money
Bank failure tally reaches 140 By Ben Rooney, staff reporter December 18, 2009: 8:23 PM ET NEW YORK (CNNMoney.com) -- Banks in six U.S. states were closed Friday, bringing the total number of failed banks this year to 140, at a cost of over $1 billion to the Federal Deposit Insurance Corporation. Among the institutions seized by regulators was a so-called bankers' bank in Illinois called Independent Bankers' Bank (IBB), which had about ...
Related contentBusiness Briefing | Regulatory: Georgia Bank Becomes 134th to Fail This Year
12 hours ago ago from The New York Times
Regulators on Friday shut down a small Georgia bank, bringing to 134 the number of banks that have failed this year. The Federal Deposit Insurance Corporation took over the bank, RockBridge Commercial, based in Atlanta, with $294 million in assets and $291.7 million in deposits. The F.D.I.C. was unable to find a buyer for the failed bank, so checks covering insured accounts will be mailed to retail depositors, the agency said. RockBridge ...
Related contentFDIC Approves Payout of Insured Deposits at Failed Georgia Bank
8 hours ago ago from Wall Street Journal
DOW JONES NEWSWIRES WASHINGTON-- The Federal Deposit Insurance Corp. said it has approved a payout of insured deposits at RockBridge Commercial Bank, which was closed by Georgia bank officials on Friday. The FDIC estimates the Atlanta, Ga. bank's failure will cost the federal deposit insurance fund about $124.2 million. Bank closings aren't rare--RockBridge was the ...
Related contentBanks earned $5.7B in 3Q trading
16 hours ago ago from U.S. News
Banks earned $5.7B in 3Q trading WASHINGTON (AP) -- U.S. banks earned $5.7 billion trading derivatives and cash investments in the third quarter, as the level of credit risk continued to decline in the global market, a government report released Friday shows. Derivatives, traded in an unregulated $600 trillion market, were partly blamed for the financial crisis that ignited last year. The value of derivatives hinges on an underlying ...
Related contentWis. woman accused of $3.3 million bank fraud
14 hours ago ago from U.S. News
Wis. woman accused of $3.3 million bank fraud MADISON, Wis. (AP) -- A 44-year-old tax preparer from Sun Prairie, Wis., faces federal charges for allegedly defrauding a bank of $3.3 million. Gail L. Mendez was arrested Thursday in Laredo, Texas but indicted Sept. 30. Mendez, who worked as Mendez Connections, and others not named in the indictment allegedly took part in mortgage fraud in 2006 and 2007. They are accused of submitting false ...
Related content
