• Go to page :
  • 1 234
  • Text Only

Hopefully to try and avoid creating new threads about every bank that fails....

January 25, 2008
Douglass National Bank
Kansas City, MO
http://www.fdic.gov/bank/individual/failed/Douglas.html

March 7, 2008
Hume Bank
Hume, MO
http://www.fdic.gov/bank/individual/failed/Hume.html

May 9, 2008
ANB Financial
Bentonville, AR
http://www.fdic.gov/bank/individual/failed/anb.html

May 30, 2008
First Integrity Bank
Staples, MN
http://www.fdic.gov/bank/individual/failed/first_integrity_bank.html

July 11, 2008
IndyMac
Pasadena, CA
http://www.fatwallet.com/forums/finance/841852
http://www.fdic.gov/bank/individual/failed/IndyMac.html

July 25, 2008
First Heritage Bank
Newport Beach, CA
http://www.fatwallet.com/forums/finance/847261
http://www.fdic.gov/bank/individual/failed/heritage.html

July 25, 2008
FNB of Nevada
Reno, NV
http://www.fatwallet.com/forums/finance/847261
http://www.fdic.gov/bank/individual/failed/fnbnv.html

August 1, 2008
First Priority Bank
Brandenton, FL
http://www.fatwallet.com/forums/finance/849382
http://www.fdic.gov/bank/individual/failed/firstprioritybank.html

August 22, 2008
Columbian Bank of Topeka
Topeka, KS
http://www.fatwallet.com/forums/finance/855497
http://www.fdic.gov/bank/individual/failed/columbian.html

August 29, 2008
Integrity Bank of Georgia
Alpharetta, GA
http://www.fatwallet.com/forums/finance/857399
http://www.fdic.gov/bank/individual/failed/integrity.html

September 5, 2008
Silver State Bank
Henderson, NV
http://www.fdic.gov/bank/individual/failed/silverstate.html

September 19, 2008
Ameribank
Northfork, WV
http://www.fdic.gov/bank/individual/failed/ameribank.html

September 25, 2008
Washington Mutual (WAMU)
http://www.fatwallet.com/forums/finance/865058/
http://www.reuters.com/article/marketsNews/idUKN2544041720080926?rpc=44

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



Or, you could just rely on the FDIC's consolidated list...
http://www.fdic.gov/bank/individual/failed/banklist.html


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.

Edited to add:
FDIC Insurance: Are My Deposits Ensured?

Above page includes the following:

  • Deposit Insurance Estimator
  • Insuring Your Deposits (Basic Guide)
  • Your Insured Deposits (Comprehensive Guide)
  • When a Bank Fails - Facts for Depositors, Creditors, and Borrowers


Hopefully the daily new threads asking about WAMU being next will be weekly.


You can also check the Bank Implode-O-Meter

Link


Valley CU based in San Jose, CA has been placed under NCUA conservatorship as of Sep 2 or 3. Here is a link to the Press Release.

There is also a link on the CU webpage.

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!


A lot of "Integrity" in these bank names.


I see a lot of "First"
comptalk said: A lot of "Integrity" in these bank names.


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.


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!


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.


This week's failure: Silver State Bank in NV. RIP


This week's failure: Ameribank in WV and OH.

WAMU survived the week! Whoo Hoo!


Updated... 2008 has now surpassed 2002.

Next:

1994 - 13
1993 - 43
1992 - 122
1991 - 127


Bank Failures of 2008 Article on CNBC.com on 9/23/08

http://www.cnbc.com/id/26673834


Updated again... WAMU fails. JP Morgan acquires assets.


Two more today:

October 10, 2008 (#14)
Main Street Bank, Northville, MI
http://www.fdic.gov/bank/individual/failed/mainstreet.html

October 10, 2008 (#15)
Meridian Bank, Eldred, IL
http://www.fdic.gov/bank/individual/failed/meridian.html



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

16 for the year


Today's failure: Community Bank in GA

also, the FDIC now provides unlimited insurance on non-interest bearing transaction accounts. I wonder if there was a run on Citi's institutional accounts?


the non interest bearing thing is probably aimed at large corporate accounts (payroll, etc...)


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?


shall we add Citi to the list today or wait till Sunday afternoon?


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


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

Up to 34 so far.




Ratmandu said: FirstBank Financial Services of McDonough, Ga.

FirstBank Financial Services, McDonough, GA February 06, 2009
Alliance Bank, Culver City, CA February 06, 2009
County Bank, Merced, CA February 06, 2009


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


Citizens Bank, Corvallis, Oregon, Assumes All of the Deposits of Silver Falls Bank, Silverton, Oregon

Linky


Two more so far tonight

Bank of Nevada, Las Vegas, Nevada Assumes All of the Deposits of Security Savings Bank, Henderson, Nevada
February 27, 2009
fdic link


MB Financial Bank, N.A., Chicago, Illinois, Assumes All of the Deposits of Heritage Community Bank, Glenwood, Illinois
February 27, 2009
fdic Link


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.

Linky


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.


http://bankdeals.blogspot.com covers all of the Rewards Checking accounts and links back to past posts when banks were featured.


Great Southern Bank, Springfield, Missouri, Assumes All of the Deposits of Teambank, National Association, Paola, Kansas

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.

Herring Bank, Amarillo, Texas, Assumes All of the Deposits of Colorado National Bank, Colorado Springs, Colorado

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.

FDIC Approves the Payout of Insured Deposits of FirstCity Bank, Stockbridge, Georgia

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.


NCUA Conserves U.S. Central and Western Corporate Credit Unions

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.


Whoops! Three bank failures yesterday, overlooked because of the corporate credit union takeovers.

MarketWatch article

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."


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...

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.


While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2012