Meridian Bank -- Eldred, IL -- 10-Oct-08 Main Street Bank -- Northville, MI -- 10-Oct-08 Alpha Bank & Trust -- Alpharetta, GA -- 24-Oct-08 Freedom Bank -- Bradenton , FL -- 31-Oct-08 Security Pacific Bank -- Los Angeles, CA -- 7-Nov-08 Franklin Bank, SSB -- Houston, TX -- 7-Nov-08 PFF Bank & Trust -- Pomona, CA -- 21-Nov-08 Downey Savings & Loan -- Newport Beach, CA -- 21-Nov-08 Community Bank -- Loganville, GA -- 21-Nov-08 First Georgia Community Bank -- Jackson, GA -- 5-Dec-08 Sanderson State Bank -- Sanderson, TX -- 12-Dec-08 Haven Trust Bank -- Duluth, GA -- 12-Dec-08 Bank of Clark County -- Vancouver, WA -- 16-Jan-09 National Bank of Commerce -- Berkeley, IL -- 16-Jan-09 1st Centennial Bank -- Redlands, CA -- 23-Jan-09 Ocala National Bank -- Ocala, FL -- 30-Jan-09 Suburban FSB -- Crofton, MD -- 30-Jan-09 MagnetBank -- Salt Lake City, UT -- 30-Jan-09 County Bank -- Merced, CA -- 6-Feb-09 Alliance Bank -- Culver City, CA -- 6-Feb-09 FirstBank Financial Services -- McDonough, GA -- 6-Feb-09 Pinnacle Bank of Oregon -- Beaverton, OR -- 13-Feb-09 Corn Belt Bank & Trust Co. -- Pittsfield , IL -- 13-Feb-09 Riverside Bank of the Gulf Coast -- Cape Coral, FL -- 13-Feb-09 Sherman County Bank -- Loup City, NE -- 13-Feb-09 Silver Falls Bank -- Silverton, OR -- 20-Feb-09 Security Savings Bank -- Henderson, NV -- 27-Feb-09 Heritage Community Bank -- Glenwood, IL -- 27-Feb-09 Freedom Bank of Georgia -- Commerce, GA -- 6-Mar-09 TeamBank, NA -- Paola, KS -- 20-Mar-09 Colorado National Bank -- Colorado Springs, CO -- 20-Mar-09 FirstCity Bank -- Stockbridge, GA -- 20-Mar-09 Omni National Bank -- Atlanta, GA -- 27-Mar-09 New Frontier Bank -- Greeley, CO -- 10-Apr-09 Cape Fear Bank -- Wilmington, NC -- 10-Apr-09 Great Basin Bank of Nevada -- Elko, NV -- 17-Apr-09 American Sterling Bank -- Sugar Creek, MO -- 17-Apr-09 First Bank of Idaho -- Ketchum, ID -- 24-Apr-09 First Bank of Beverly Hills -- Calabasas, CA -- 24-Apr-09 Michigan Heritage Bank -- Farmington Hills, MI -- 24-Apr-09 American Southern Bank -- Kennesaw, GA -- 24-Apr-09 America West Bank -- Layton , UT -- 1-May-09 Citizens Community Bank -- Ridgewood, NJ -- 1-May-09 Silverton Bank, NA -- Atlanta, GA -- 1-May-09 Westsound Bank -- Bremerton, WA -- 8-May-09 BankUnited, FSB -- Coral Gables, FL -- 21-May-09 Citizens National Bank -- Macomb, IL -- 22-May-09 Strategic Capital Bank -- Champaign, IL -- 22-May-09 Bank of Lincolnwood -- Lincolnwood, IL -- 5-Jun-09 First National Bank of Anthony -- Anthony, KS -- 19-Jun-09 Cooperative Bank -- Wilmington, NC -- 19-Jun-09 Southern Community Bank -- Fayetteville, GA -- 19-Jun-09 Mirae Bank -- Los Angeles, CA -- 26-Jun-09 MetroPacific Bank -- Irvine, CA -- 26-Jun-09 Horizon Bank -- Pine City, MN -- 26-Jun-09 Neighborhood Community Bank -- Newnan, GA -- 26-Jun-09 Community Bank of West Georgia -- Villa Rica, GA -- 26-Jun-09 Founders Bank -- Worth , IL -- 2-Jul-09 Millennium State Bank of Texas -- Dallas, TX -- 2-Jul-09 First National Bank of Danville -- Danville, IL -- 2-Jul-09 Elizabeth State Bank -- Elizabeth, IL -- 2-Jul-09 Rock River Bank -- Oregon, IL -- 2-Jul-09 First State Bank of Winchester -- Winchester, IL -- 2-Jul-09 John Warner Bank -- Clinton, IL -- 2-Jul-09
doerrb said: Or, you could just rely on the FDIC's consolidated list... http://www.fdic.gov/bank/individual/failed/banklist.html I think Absolut9 wanted to have all the DISCUSSIONS regarding bank failures (which arguably is going to be a weekly affair for a while) in a single thread. Green to OP!
uutxs said: doerrb said: Or, you could just rely on the FDIC's consolidated list... http://www.fdic.gov/bank/individual/failed/banklist.html I think Absolut9 wanted to have all the DISCUSSIONS regarding bank failures (which arguably is going to be a weekly affair for a while) in a single thread. Green to OP!If the objective is to avoid creating new threads, yet the original post links back to previous threads for each incident, is that not ENCOURAGING new threads for each incident?
If, instead, we'd like to consolidate discussion of all bank failures in one thread, I think it's helpful to have a constantly, instantaneously updated list of officially failed banks -- which the FDIC already provides -- and a consolidated discussion thread. I was just providing a handy reference for officially failed banks, per FDIC.
I really don't care how it's done. If we're aiming to MINIMIZE posts on this repetitive posting theme ("Bank XYZ Fails, and Presumably You Haven't Been Paying Attention to the News, So I'm Going to Announce It Here On FW!"), I'm all for it. If folks haven't figure out how to allocate their assets across accounts, or don't understand FDIC insurance, then they're probably beyond the help of FW -- or, at least, beyond help if they don't know how to search.
Thank you, OP, for linking to the FDIC's individual bank failure announcements. I should've made it more clear in my original post that I think this is valuable. What I hope to NOT replicate, though, is a discussion thread for each podunk bank that goes kaput.
I do have an account there but had no idea about this; got no intimation from them. I actually made a deposit this morning (still not knowing anything about this) at a different CU (CU shared branch). It was when I later logged into my Valley CU a/c, just to make sure the deposit posted that I noticed the link on the Valley CU main webpage. The link, although conpicuous, by itself does not indicate anything about being under NCUA conservatorship, until you click and read contents. Indeed I did not bother to click the link until I checked my balance and logged out and purely out of curiosity checked it on my way out!
thok said: hejustlaughs said: Hopefully the daily new threads asking about WAMU being next will be weekly.
WAMU's going under? CRAP! I'd better pull out my $3000, I don't want to lose it. I've said it before, and I'll say it again: The worse the trouble, the better the interest rates!
thok
Tired Member
posted: Sep. 5, 2008 @ 4:53p
sechs said: thok said: hejustlaughs said: Hopefully the daily new threads asking about WAMU being next will be weekly.
WAMU's going under? CRAP! I'd better pull out my $3000, I don't want to lose it. I've said it before, and I'll say it again: The worse the trouble, the better the interest rates!
Sorry, forgot to add the <sarcasm> </sarcasm> tags.
Bank Name Closing Date Alpha Bank & Trust, Alpharetta, GA 24-Oct-08 Meridian Bank, Eldred, IL 10-Oct-08 Main Street Bank, Northville, MI 10-Oct-08 Washington Mutual Bank, Henderson, NV and Washington Mutual Bank FSB, Park City, UT 25-Sep-08 Ameribank, Northfork, WV 19-Sep-08 Silver State Bank, Henderson, NV 5-Sep-08 En Español Integrity Bank, Alpharetta, GA 29-Aug-08 The Columbian Bank and Trust, Topeka, KS 22-Aug-08 First Priority Bank, Bradenton, FL 1-Aug-08 First Heritage Bank, NA, Newport Beach, CA 25-Jul-08 First National Bank of Nevada, Reno, NV 25-Jul-08 IndyMac Bank, Pasadena, CA 11-Jul-08 First Integrity Bank, NA, Staples, MN 30-May-08 ANB Financial, NA, Bentonville, AR 9-May-08 Hume Bank, Hume, MO 7-Mar-08 Douglass National Bank, Kansas City, MO 25-Jan-08
the non interest bearing thing is probably aimed at large corporate accounts (payroll, etc...)
xcheckers
Member
posted: Nov. 21, 2008 @ 8:45p
More down today.. Downey on that list now too and PFF bank and trust. Both are CA banks so the announcements look to be after COB pacific time
Bank Closing Information for PFF Bank and Trust, Pomona, CA November 21, 2008 All deposit accounts and all loans have been transferred to U.S. Bank, National Association, Cincinnati, OH. Qualified Financial Contracts for PFF Bank & Trust Bank Closing Information for Downey Savings and Loan Association, F.A., Newport Beach, CA November 21, 2008 All deposit accounts and all loans have been transferred to U.S. Bank, National Association, Cincinnati, OH. Qualified Financial Contracts for Downey Savings & Loan Bank Closing Information for The Community Bank, Loganville, GA November 21, 2008 All deposit accounts have been transferred to Bank of Essex, Tappahannock, VA and will be available immediately. Is My Account Fully Insured?
orphanis
Senior Member - 1K
posted: Nov. 21, 2008 @ 9:51p
shall we add Citi to the list today or wait till Sunday afternoon?
sushiosushi
Senior Member - 2K
posted: Jan. 18, 2009 @ 10:12a
First two failures of 2009.
Updated list of 2008-2009 failures: Bank of Clark County, Vancouver, WA January 16, 2009 National Bank of Commerce, Berkeley, IL January 16, 2009 Sanderson State Bank, Sanderson, TX December 12, 2008 Haven Trust Bank, Duluth, GA December 12, 2008 First Georgia Community Bank, Jackson, GA December 5, 2008 PFF Bank and Trust, Pomona, CA November 21, 2008 Downey Savings and Loan, Newport Beach, CA November 21, 2008 The Community Bank, Loganville, GA November 21, 2008 Security Pacific Bank, Los Angeles, CA November 7, 2008 Franklin Bank, SSB, Houston, TX November 7, 2008 Freedom Bank, Bradenton, FL October 31, 2008 Alpha Bank & Trust, Alpharetta, GA October 24, 2008 Meridian Bank, Eldred, IL October 10, 2008 Main Street Bank, Northville, MI October 10, 2008 Washington Mutual Bank, Henderson, NV and Washington Mutual Bank FSB, Park City, UT September 25, 2008 Ameribank, Northfork, WV September 19, 2008 Silver State Bank, Henderson, NV September 5, 2008 Integrity Bank, Alpharetta, GA August 29, 2008 The Columbian Bank and Trust, Topeka, KS August 22, 2008 First Priority Bank, Bradenton, FL August 1, 2008 First Heritage Bank, NA, Newport Beach, CA July 25, 2008 First National Bank of Nevada, Reno, NV July 25, 2008 IndyMac Bank, Pasadena, CA July 11, 2008 First Integrity Bank, NA, Staples, MN May 30, 2008 ANB Financial, NA, Bentonville, AR May 9, 2008 Hume Bank, Hume, MO March 7, 2008 Douglass National Bank, Kansas City, MO January 25, 2008
Absolut9
Senior Member
posted: Feb. 5, 2009 @ 10:07p
add 4 more...
Ocala National Bank, Ocala, FL January 30, 2009 January 30, 2009 Suburban Federal Savings Bank, Crofton, MD January 30, 2009 January 30, 2009 MagnetBank, Salt Lake City, UT January 30, 2009 January 30, 2009 1st Centennial Bank, Redlands, CA January 23, 2009 January 23, 2009
FirstBank Financial Services, McDonough, GA February 06, 2009 Alliance Bank, Culver City, CA February 06, 2009 County Bank, Merced, CA February 06, 2009
ThursdaysChild
Missed.
posted: Feb. 13, 2009 @ 10:13p
From Yahoo Market Watch - sorry, didn't find links
SAN FRANCISCO (MarketWatch) -- The Federal Deposit Insurance Corporation and state regulators on Friday shut down Sherman County Bank of Loup City, Neb., the tenth bank failure of 2009 and the 35th since the start of the current credit crisis. All deposit accounts have been transferred to Heritage Bank, Wood River, Neb. and former Sherman County Bank locations will reopen as branches of Heritage Bank on Tuesday. In addition to assuming all of Sherman County Bank's $85.1 million deposits, Heritage Bank agreed to purchase about $21.8 million in assets. The FDIC will retain the remaining assets for later disposition.
SAN FRANCISCO (MarketWatch) -- The Federal Deposit Insurance Corporation said late Friday Riverside Bank of the Gulf Coast, in Cape Coral, Fla., failed, making it the 11th bank failure of 2009, and the 36th of the current recession. TIB Bank of Naples, Fla., will assume all of Riverside's deposits. As of Dec. 31, Riverside Bank had total assets of about $539 million and total deposits of $424 million. Nine branches of Riverside Bank will reopen as TIB Bank on Tuesday.
SAN FRANCISCO (MarketWatch) -- Pittsfield, Ill.-based Corn Belt Bank and Trust Company was closed by regulators Friday, marking the 12th bank failure of 2009, the Federal Deposit Insurance Corporation said in a statement. The FDIC earlier Friday had announced the failure of Nebraska-based Sherman County Bank and Florida-based Riverside Bank of the Gulf Coast. Corn Belt Bank marks the 37th bank failure since the start of the credit crisis. Carlinville, Ill.-based Carlinville National Bank will assume Corn Belt Bank's deposits, the FDIC said.
edit: BankDeals had info on a 4th bank to fail Friday the 13th -- Pinnacle Bank, Beaverton, Oregon
Northeast Georgia Bank, Lavonia, Georgia, Acquires All of the Deposits of Freedom Bank of Georgia, Commerce, Georgia.
As of March 4, 2009, Freedom Bank of Georgia had total assets of approximately $173 million and total deposits of $161 million. In addition to assuming all of the deposits of the failed bank, Northeast Georgia Bank agreed to purchase approximately $167 million in assets at a discount of $13.65 million. The FDIC will retain the remaining assets for later disposition.
The FDIC and Northeast Georgia Bank entered into a loss-share transaction. Northeast Georgia Bank will share in any losses on approximately $96.5 million in assets covered under the agreement. The loss-sharing arrangement is projected to maximize returns on the covered assets covered by keeping them in the private sector.
Just curious, does anyone know if these banks had rewards checking or better rates on their checking before failure? It would be interesting to see if it would have hurt or maybe saved some of these banks from failure.
As of December 31, 2008, Teambank had total assets of $669.8 million and total deposits of $492.8 million. Great Southern will assume $474 million in deposits and the FDIC will pay out $18.8 million directly to the broker. In addition to assuming all of the deposits of the failed bank, Great Southern Bank agreed to purchase approximately $656.5 million in assets at a discount of $100 million, and pay a 1 percent premium on deposits. The FDIC will retain the remaining assets for later disposition.
The FDIC and Great Southern Bank entered into a loss-share transaction. The FDIC will share 80/20 percent in the losses with Great Southern Bank on approximately $450 million in assets covered under the agreement. The loss-sharing arrangement is projected to maximize returns on the covered assets and to minimize disruptions for loan customers.
As of December 31, 2008, Colorado National had total assets of $123.5 million and total deposits of $82.7 million. In addition to assuming all of the deposits of the failed bank, Herring Bank agreed to purchase approximately $117.3 million in assets at a discount of $4.2 million, and pay a discount of 1.27% percent on deposits. The FDIC will retain the remaining assets for later disposition.
The FDIC and Herring Bank entered into a loss-share transaction. The FDIC will share 80/20 percent in the losses with Herring Bank on approximately $62 million in assets covered under the agreement. The loss-sharing arrangement is projected to maximize returns on the covered assets and minimize disruptions for loan customers.
The FDIC will provide payment to insured depositors by mailing checks for their insured funds on Monday morning.
As of March 18, 2009, FirstCity had total assets of $297 million and total deposits of $278 million. At the time of closing, the bank had approximately $778,000 in deposits that exceeded the insurance limits.
The National Credit Union Administration Board today placed U.S. Central Federal Credit Union, Lenexa, Kansas, and Western Corporate (WesCorp) Federal Credit Union, San Dimas, California, into conservatorship to stabilize the corporate credit union system and resolve balance sheet issues.
Corporate credit unions do not serve consumers. They are chartered to provide products and services to the credit union system.
U.S. Central has approximately $34 billion in assets and 26 retail corporate credit union members. WesCorp has $23 billion in assets and approximately 1,100 retail credit union members. The member accounts of both credit unions are guaranteed under provisions of the previously announced NCUA Share Guarantee Program, through December 31, 2010. The Program extends NCUSIF coverage to all funds held by the two corporate credit unions.
ThursdaysChild
Missed.
posted: Mar. 21, 2009 @ 1:05p
Whoops! Three bank failures yesterday, overlooked because of the corporate credit union takeovers.
New technique: "The Federal Deposit Insurance Corporation said that Stockbridge, Ga.-based FirstCity Bank was closed by regulators, adding that it will mail checks to FirstCity's insured depositors Monday morning. The failed bank's direct deposits from the federal government such as Social Security and veterans' payments will be transferred to SunTrust Banks Inc., the FDIC said."
"The FDIC also said Colorado Springs-based Colorado National Bank was closed, and Texas-based Herring Bank will assume all of the failed bank's deposits."
"Paola, Kan.-based Teambank also was closed by regulators, the FDIC said, while Missouri-based Great Southern Bank will assume its deposits."
sushiosushi
Senior Member - 2K
posted: Mar. 28, 2009 @ 11:29a
21st failure of 2009 on 3/27/2009
Omni National Bank based out of Georgia temporarily taken over by Suntrust FDIC PRESS RELEASE
Skipping 87 Messages...
bobbyvescolives
Member
posted: Apr. 18, 2010 @ 6:35p
Friday.
Nine hundred eighty four million seven hundred thousand dollars.
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
