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Posts with tag: bank-closings | Return to ShoppingBlog.com Homepage

Four Banks Closed on Friday

Bank Failures February 19 2010


Four more banks were closed by federal regulators on Friday bringing the number of failed banks in 2010 to twenty. Here is a list of the banks that were closed Friday. 140 banks failed last year. The FDIC keeps an updated list of failed banks here.

Posted on February 20, 2010
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Two More Banks Failed on Friday

Irwin Union BankFederal regulators closed down two more banks on Friday. The closings bring the total of failed banks for 2009 to 94. The two banks closed were both branches of Irwin Financial.

  • Irwin Union Bank and Trust Company in Columbus, Indiana
  • Irwin Union Bank, F.S.B. in Louisville, Kentucky

    You can see a complete list of the banks closed in 2009 here on FDIC website.

    Posted on September 19, 2009
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  • Three More Banks Failed Friday

    Bank FailuresThree more banks failed on Friday taking the total number of banks taking over regulators in 2009 to 84. Some experts believe there are hundreds more failures of local state banks still to come. The banks that failed today include: The FDIC maintains a list of failed banks here.

    Posted on August 28, 2009
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    81 Banks Have Closed This Year, Hundreds More Bank Failures Expected

    81 U.S. banks have failed so far in 2009 as of Friday but there may be many more to come this year. Reuters reports that Richard Bove of Rochdale Securities expects another 150 to 200 bank failures.
    A prominent banking analyst said on Sunday that 150 to 200 more U.S. banks will fail in the current banking crisis, and the industry's payments to keep the Federal Deposit Insurance Corp afloat could eat up 25 percent of pretax income in 2010.

    Richard Bove of Rochdale Securities said this will likely force the FDIC, which insures deposits, to turn increasingly to non-U.S. banks and private equity funds to shore up the banking system.

    "The difficulty at the moment is finding enough healthy banks to buy the failing banks," Bove wrote.
    The four banks that closed Friday include: The FDIC keeps an ongoing list of failed banks here. When a bank fails the FDIC has the bank's depost accounts transfered to another financial institution.

    Posted on August 23, 2009
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    Five More Banks Closed Friday

    Bank Closings July 31 2009


    Federal regulators closed five more banks on Friday. This brings the total number of banks closed in 2009 to 69. Here is a list of the banks that closed. You can see a complete list of the banks closed in 2009 here on the FDIC's website.

    Posted on August 2, 2009
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    Four More Banks Closed Friday

    Failed Banks July 17th


    CNN reports the federal regulators closed four more banks on Friday taking the total for the year to 57. Here is a list of the banks that closed.

    Posted on July 19, 2009
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    Bank of Wyoming is 53rd Bank Failure of 2009

    Bank of WyomingBloomberg reports that the Bank of Wyoming in Thermopolis has been closed by federal regulators. It is the 53rd bank closing of 2009.
    Bank of Wyoming, with $70 million of assets and $67 million of deposits, was closed by the state’s Department of Audit, Division of Banking and the Federal Deposit Insurance Corp. was named receiver, the FDIC said today in a statement. Central Bank & Trust in Lander, Wyoming, will assume the deposits and the failed bank's only office.

    "There is no need for customers to change their banking relationship to retain their deposit insurance coverage," the FDIC said.
    All Bank of Wymoing deposits have been transfered to the Central Bank & Trust. The FDIC's informational page about the bank closing can be found Here.

    Posted on July 10, 2009
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    Three More Failed Banks Close Brings 2009's Total to 40

    Failed BanksFederal regulators closed three more banks on Friday bringing the total number of failed banks for 2009 to Forty.
    • Southern Community Bank in Fayetteville, Georgia was closed by regulators. United Community Bank in Blairsville, Georgia will take over the bank's deposits. The FDIC's informational page can be found here.
    • Cooperative Bank in Wilmington, North Carolina was closed by regulators. First Bank in Troy, NC will take over the bank's deposits. The FDIC's informational page can be found here.
    • First National Bank of Anthony in Anthony, Kansas was also closed by regulators. Bank of Kansas in South Hutchinson will take over the bank's deposits. The FDIC's informational page can be found here.
    (via Marketwatch)

    Posted on June 19, 2009
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    Westsound Bank is 33rd Bank Closing of 2009

    Westsound BankFederal regulators have shut down Westsound Bank in Bremerton, Washington. The closing is the 33rd bank closing of 2009. USA Today reports that Kitsap Bank in Port Orchard, Washington will take over Westsound Bank's deposits.
    The Federal Deposit Insurance Corp. seized the small bank and said its nine branches and nearly all of its deposits will be taken over by Kitsap Bank of Port Orchard, Wash.

    Westsound Bank is the second bank based in the state of Washington to collapse this year, after the Bank of Clark County in January.

    Westsound, which served the Puget Sound area, was hit hard by losses in construction loans.

    It had total assets of $334.6 million as of March 31, and total deposits of $304.5 million.
    The FDIC Bank Closing Information for Westsound Bank can be found here.

    Posted on May 9, 2009
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    Cape Fear Bank is 22nd Bank to Fail in 2009

    Cape Fear BankCape Fear Bank in Wilmington, North Carolina became the 22nd bank closed by federal regulators this year. A notice on the bank's website says all of the bank's assets were transfered to First Federal Savings and Loan Association in Charleston, SC.
    On April 10, 2009, Cape Fear Bank, Wilmington, North Carolina was closed by the North Carolina Office of Commissioner of Banks. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

    All deposit accounts, excluding certain brokered deposits, have been transferred to First Federal Savings and Loan Association, Charleston, SC. For more information on First Federal Savings and Loan Association, visit us at www.firstfederal.com.

    The FDIC has assembled useful information regarding your relationship with Cape Fear Bank. Besides a checking account, you may have Certificates of Deposit, a business checking account, a Social Security direct deposit, and other relationships with the institution.
    The FDIC's information page about the closing of Cape Fear Bank can be found here.

    (via Marketwatch)

    Posted on April 10, 2009
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