This Week's Bank Closings

Here are the latest bank closings, as announced every Friday by the FDIC:

Statewide Bank, Covington, LA
Old Southern Bank, Orlando, FL
Park Avenue Bank, New York, NY
LibertyPointe Bank, New York, NY

This brings us up to 29 for the year.

Friday Bank Tombstones

Only 2 banks were closed this week according to the FDIC’s Friday announcements:

Rainier Pacific Bank

Carson River Community Bank

In the Q4 FDIC report:

For the full year, the number of reporting institutions fell from 8,305 to 8,012. Only 31 new charters were added in 2009, the smallest annual total since 1942. Mergers absorbed 179 institutions during the year, and 140 [...]

Latest Bank Closings

Here are the latest bank closings since my last post on this (January 15). There have been 20 closings in 2010.

From FDIC:

La Jolla Bank, FSB, La Jolla, CA
George Washington Savings Bank, Orland Park, IL
The La Coste National Bank, La Coste, TX
Marco Community Bank, Marco Island, FL

From The OCC:

The First National Bank of [...]

Surprise! The Feds Just Discovered CRE is Freezing Credit

It didn’t take long for the Wall Street Journal and the government to catch up with The Daily Capitalist, which surprises me since they usually take much longer.

But here’s yesterday’s headline, which came out after I published Part II of my “State of the Economy Part II” article on real estate, banking, and credit liquidity: “TARP Panel: [...]

Six More Banks Shuttered

The FDIC and OCC announced six more failed banks on Friday:

American Marine Bank, Bainbridge Island, WA
First Regional Bank, Los Angeles, CA
Community Bank & Trust, Cornelia, GA
Marshall Bank, Hallock, MN
Florida Community Bank, Immokalee, FL
First National Bank of Georgia, Carrollton, GA

According to Calculated Risk, there have been 15 closures in 2010, 140 in 2009, and a total [...]

Bank Tombstones For Friday

By Jeff Harding.

Here’s the latest on bank closures – 9 more. I think that’s 115.

North Houston Bank, Houston, TX
Madisonville State Bank, Madisonville, TX
Citizens National Bank, Teague, TX
Park National Bank, Chicago, IL
Pacific National Bank, San Francisco, CA
California National Bank, Los Angeles, CA
San Diego National Bank, San Diego, CA
Community Bank of Lemont, Lemont, IL
Bank USA, NA, Phoenix, AZ