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Frontier Bank, FSB, Palm Desert, CA, Closed by Regulators – 17th Bank Failure...
The seventeenth bank failure of the year occurred in California today as regulators shuttered the Frontier Bank, FSB, a small bank headquartered in Palm Desert, CA doing business as El Paseo Bank. The...
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Almost Half of Americans Expect Higher Mortgage Rates and Higher Home Prices
The latest national housing survey conducted by Fannie Mae shows that many Americans expect to see both higher mortgage rates and rising home prices over the next year. It will be interesting to see...
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Banking Industry Profits and Revenues Show Strong Increase in 2014 Third Quarter
The latest FDIC Quarterly Banking Profile for the quarter ending September 30, 2014 shows a strong increase in both profits and revenues as the recovery in the banking industry continues. Banking...
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Over 8,500 Banks Have Disappeared Since 1990 – “Too Big to Fail” Remains a...
The latest FDIC Quarterly Banking Profile highlights the sharp decline in the number of banks over the past 24 years. For the quarter ending September 30, 2014 the number of FDIC insured institutions...
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Banks Have Just Lost Their Biggest Profit Center – What Will Replace Billions...
During the past five years bankers have reaped billions of dollars in profits by simply making accounting entries instead of making loans. What was the biggest source of banking industry profit growth...
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Northern Star Bank, Mankato, MN, Becomes 18th Bank Failure of 2014
State regulators swooped in today to close the Northern Star Bank, Mankato, Minnesota. After closing the Bank, the Minnesota Department of Commerce appointed the FDIC as receiver. The FDIC in turn...
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1st Bank Failure of 2015 – Feds Close First National Bank of Crestview, FL
The first banking failure of 2015 occurred in the state of Florida as the Office of the Comptroller of the Currency shut down the First National Bank of Crestview, Crestview, Florida. The FDIC,...
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Highland Community Bank, IL, Second Bank Failure of 2015
The second bank failure of the year occurred in Illinois when state regulators closed Highland Community Bank, Chicago, IL. During 2014 Illinois had five banking failures, the most of any state. After...
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Capitol City Bank & Trust Co, Georgia, Collapses – Largest Bank Failure of 2015
The largest bank failure of the year occurred today as regulators closed down Capitol City Bank & Trust Company, Atlanta, Georgia. After shuttering the bank, the Georgia Department of Banking...
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Number of Problem Banks Declines for 15th Consecutive Quarter
According to the latest FDIC Quarterly Banking Profile the number of problem banks continued to decline for the quarter ending December 31, 2014. After reaching a peak of 888 at the end of the first...
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Doral Bank Collapses After Years of Financial Losses – Largest Bank Failure...
The largest bank failure since 2010 left the FDIC on the hook for almost $1 billion in losses as the giant $5.9 billion asset Doral Bank, San Juan, Puerto Rico, was closed by bank regulators. Doral...
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Yes – It Is Still Possible to Get High Interest Rates on Your Savings
In 2007 it would have been inconceivable for anyone to imagine that savers would receive virtually zero percent return on their money. The entire concept of wealth creation is built not only upon...
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Bank Failures Decline But Still Above Pre Banking Crisis Levels
Prior to the banking crisis that began in 2008 bank failures had been a rare occurrence with only 32 banking failures between 2000 to 2007. During 2008 the wheels began to fall off the financial system...
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Edgebrook Bank, IL, Closed by Regulators – Fifth Bank Failure of 2015
After over a two month hiatus with no bank closings, regulators swooped in to close the Edgebrook Bank, Chicago, Illinois. The last banking failure occurred on February 28, 2015 when regulators closed...
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Problem Banks Fall to Six Year Low
According to the latest FDIC Quarterly Banking Profile the number of problem banks has declined to a six year low. As of March 31, 2015, a total of 253 banks were still classified as problem banks by...
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The Amazing Decline in the Number of Banks Has Resulted in Big Bank Domination
The number of banks operating in the United States has been in an amazing decline for the past 25 years. Many institutions disappeared after going bust during the savings and loan crisis of the early...
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Premier Bank, Denver, CO, Becomes Sixth Bank Failure of 2015
After a hiatus of two months the sixth banking failure of 2015 occurred today when regulators closed Premier Bank, Denver, CO. The last banking failure occurred on May 8th when Edgebrook Bank,...
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The Bank of Georgia Closed By Regulators – 7th Bank Failure of 2015
After almost a three month hiatus of bank failures, regulators closed The Bank of Georgia, Peachtree City, Georgia. Fulfilling one of its primary roles as guarantor of depositor funds, the FDIC sold...
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Hometown National Bank, Longview, WA, Closed by Regulators
After almost three months since the last bank closing regulators closed two banks on the first Friday of October. The first bank failure occurred when The Bank of Georgia, Peachtree, GA, was closed,...
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FDIC Insured Problem Banks at Lowest Level Since 2008
The number of banks on the FDIC Problem Bank List continues its steady decline since peaking at 888 banks in March 2011. According to the latest FDIC Quarterly Banking Profile the number of problem...
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