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Fannie Mae Is Suddenly The Most Profitable Company on Planet Earth
In early April Fannie Mae announced blockbuster profits of $17.2 billion for 2012 and $7.6 billion for the fourth quarter. The profits reported for 2012 represented the largest annual and quarterly...
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Will the Failure of Pisgah Community Bank Trigger the Collapse of 10 Related...
Bank failures don’t come much smaller than today’s closing of Pisgah Community Bank, Asheville, N.C. Total assets at Pisgah amounted to only $21.9 million, smaller than what many of the top executives...
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Sunrise Bank, GA, Closed As Regulators Zero In On Capitol Bancorp
Regulators closed the second bank of the day controlled by Capitol Bancorp, the troubled holding company that holds 11 different banks in nine different states. Sunrise Bank, Valdosta, GA, was closed...
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Central Arizona Bank Fails – Third Bank Failure In A Week For Capitol...
In an unusual weekday action, state regulators closed Central Arizona Bank, Scottsdale, AZ, and appointed the FDIC as receiver. To protect depositors, the FDIC sold the failed bank to Western State...
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Two U.S. Banks Included In “The World’s 20 Strongest Banks”
A short number of years ago the “too big to fail banks” had to be bailed out with trillions of dollars in financial aid from both the taxpayers and the Federal Reserve. At one point there were serious...
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FDIC Problem Bank List Includes Almost 9% of All Banks
The number of problem banks declined slightly during the first quarter of 2013. According to the latest Quarterly Banking Profile released today by the FDIC, the number of problem banks declined from...
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Banks of Wisconsin, Closed By Regulators, Becomes 14th Bank Failure of 2013
Wisconsin had its first bank failure in over two years on Friday when state regulators closed Banks of Wisconsin, Kenosha, Wisconsin. The FDIC, appointed as receiver, sold the failed bank to North...
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1st Commerce Bank, Nevada, Closed By Regulators – Fourth Bank Collapse In A...
Nevada had its first bank failure in over two years as regulators swooped in to close tiny 1st Commerce Bank, North Las Vegas, Nevada. After closing the bank, the FDIC exercised its powers as receiver...
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Mountain National Bank, Tennessee, Closed By Regulators – 16th Bank Failure...
Mountain National Bank, Sevierville, TN was closed today by the Office of the Comptroller of the Currency. The FDIC, appointed as receiver, sold the failed bank to First Tennessee Bank, N.A.,...
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Bank Depositors Take More Risk Than They Realize
Bank depositors have long enjoyed the comfort of knowing that their savings are insured by the FDIC and, if necessary, by a $500 billion line of credit from the U.S. Treasury that is available to...
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Feds Close First Community Bank of Southwest Florida – 17th Bank Failure of 2013
After a hiatus of almost two months bank failures resumed with a Florida bank becoming the 17 bank failure of the year. Regulators got back to work and closed the First Community Bank of Southwest...
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Bank of Wausau, WI, Closed by Regulators – 18th Bank Failure of 2013
Bank of Wausau, a small community bank serving central Wisconsin, was shut down by state financial regulators who appointed the FDIC as receiver. To protect depositors, the FDIC sold the failed bank...
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Community South Bank, TN, Becomes Second Largest Bank Failure of 2013
The second largest bank failure of the year occurred today as regulators closed down Community South Bank, Parsons, Tennessee, which had total assets of $386.9 million as of June 30, 2013. The...
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Sunrise Bank of Arizona Closed By Regulators, Fifth Bank Collapse For Capitol...
State regulators closed down the Sunrise Bank of Arizona, Phoenix, Arizona, and appointed the FDIC as receiver. To protect depositors, the FDIC sold the failed bank to First Fidelity Bank, N.A.,...
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Number of Problem Banks Decline By 10% In Second Quarter
The latest Quarterly Banking Profile issued by the FDIC today shows almost a 10% decline in the number of banks on the confidential FDIC Problem Bank List. The number of problem banks finally declined...
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Banking Industry Losses of $51 Billion On Bond Investments Wipes Out Second...
Anyone with money in a long term bond fund knows first hand how quickly losses can pile up when interest rates rise. The latest Quarterly Banking Profile shows that banks , just like individuals, are...
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Uninsured Depositors Face Losses on The Failure of The Community’s Bank,...
For the first time in over a decade a Connecticut bank failed as regulators swooped in to close The Community’s Bank, with headquarters in Bridgeport, CT. The Community’s Bank was a very small bank...
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First National Bank, Edinburg, Texas, Closed By Regulators – Largest Bank...
The biggest banking failure of 2013 occurred today in Texas as regulators closed the First National Bank, Edinburg, Texas, The failed bank becomes the 22nd banking failure of the year and the first...
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Bank of Jackson County, Florida, Closed By Regulators
After a month and a half with no banking failures, regulators closed the small Bank of Jackson County, Graceville, FL. After being shut down by the Florida Office of Financial Regulation, the FDIC was...
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FDIC Reports Earnings Decline For Banks In Third Quarter
The Quarterly Banking Profile released by the FDIC showed that profits for the banking industry declined for the first time since the second quarter of 2009. FDIC insured commercial banks and savings...
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