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Bank Failure Friday: 7 Banks Go Down, 3 with No Buyer | Herald de Paris

19 hours ago ago from Herald de Paris

By Wire News Sources on December 19, 2009 It was another busy Friday for regulators, as they closed seven banks, bringing this year s total to 140. As always, we ve updated our complete list of failed banks . ProPublica is investigating the end days of the boom. If you were involved, please contact us. (917) 512-0258 cdos@propublica.org The failures figure to continue in 2010. FDIC Chair Sheila Bair said last month ...

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Pasadena's OneWest buys First Federal

2 hours ago ago from Losangeles Daily News

0 BANKS: Owner of unsuccessful IndyMac takes over Santa Monica-based establishment as good as a 39 branches. PASADENA OneWest Bank FSB only got a lot bigger. The Pasadena-based bank which scooped up unsuccessful debt lender IndyMac Bank progressing this year voiced Friday it has finished a merger of a promissory note operations of First Federal Bank of California from a Federal Deposit Insurance ...

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Umbrella Bank Fails

16 hours ago ago from Best CD Rates, Savings Accounts, Bank Deals, Money Market Rates, Credit Cards Offers

The parent company of UmbrellaBank.com New South Federal Savings Bank has failed. All deposits should be secured because Beal Bank has taken over the bank. Here is the excerpt from the FDIC press release: New South Federal Savings Bank, Irondale, Alabama, was closed today 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 ...

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Small Georgia bank is 134th to fail this year

23 hours ago ago from World of News

WASHINGTON – Regulators on Friday shut down a small Georgia bank, bringing to 134 the number of U.S. banks that have failed this year amid the soured economy and mounting loan defaults. The Federal Deposit Insurance Corp. took over RockBridge Commercial Bank, based in Atlanta, with $294 million in assets and $291.7 million in deposits. The FDIC was unable to find a buyer for the failed bank, so checks covering insured accounts will be ...

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Deposits At Georgia Bank In Excess Of FDIC Insurance Limits May Not Be Covered

20 hours ago ago from Displaced EMA

source : Wall Street Journal I thought that this was an interesting post, especially paragraph 4, which suggests that amounts in excess of the FDIC insurance limits may not be covered. This is a new twist. In most other bank failures, the excess deposits have been covered. Most other failures have resulted in the FDIC making good on ALL deposits - it appears here that something could be changing. This bank has really bad loans and ...

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