In what might be the most underreported financial story of the year, US banking regulators recently circulated a memorandum for comment, including proposed adjustments to current regulatory capital risk-weightings for various assets. For the first time, unencumbered gold bullion is to be classified as zero risk, in line with dollar cash, [...]
It has been a long time since I last reported on bank failures. Today the FDIC announced four closings so it gives me a chance to catch us up on that front. The count today for 2012 is 21 bank failures. One positive note is that the rate of bank failures has dropped, substantially. There [...]
The count through November 2, 2011 is now 87 bank failures year‐to‐date, putting the annualized pace just over 100 for the full year 2011. The main problems were commercial real estate loans and residential real estate loans.
This FDIC Report shows 8 bank failures since my last report in October:
Commercial real estate exposure was the main driver behind problem loans for the banks that failed in October. Commercial real estate (CRE) loans comprised $401 million (65.1%) of the total $617 million in nonperforming loans at the failed banks. Trepp Wire’s monthly report today made the following observations:
There were four bank closings Friday:
Country Bank, Aledo, ILFirst State Bank, Cranford, NJBlue Ridge Savings Bank, Inc., Asheville, NCPiedmont Community Bank, Gray, GA
I did a report on failures using Trepp data on October 11, 2011, but these above banks are new. A chart showing all closings since July 8, the penultimate report includes [...]
Here is my latest bank closing report for Friday, August 19, 2011. There have been seven more closings since my last report on July 29.
Bank Name City State CERT # Acquiring Institution Closing Date Updated Date First Choice Bank Geneva IL 57212 Inland Bank & Trust August 19, 2011 August 19, 2011 First Southern [...]
There have been ten bank closings since my last report (July 11).
Integra Bank National Association Evansville IN 4392 Old National Bank July 29, 2011 July 29, 2011 BankMeridian, N.A. Columbia SC 58222 SCBT National Association July 29, 2011 July 29, 2011 Virginia Business Bank Richmond [...]
There have been twelve bank closings since my last report (April).
Signature Bank Windsor CO 57835 Points West Community Bank July 8, 2011 July 11, 2011 Colorado Capital Bank Castle Rock CO 34522 First-Citizens Bank & Trust Company July 8, 2011 July 8, 2011 First Chicago Bank & Trust Chicago IL 27935 Northbrook Bank & [...]
The Trepp bank failure report confirmed that the problems with banks are mainly with commercial real estate (CRE) (76%) followed by residential real estate (16%). They noted that the number of failed banks in May was way down (5):
Here are their conclusions:
For the group of 5 failed banks in May, commercial real [...]
There have been 5 bank closings since my last report (April 15, 2011).
Community Central Bank, Mount Clemens, MIThe Park Avenue Bank, Valdosta, GAFirst Choice Community Bank, Dallas, GACortez Community Bank, Brooksville, FLFirst National Bank of Central Florida, Winter Park, FL
There were 157 bank closings last year. So far we have had 39 bank closings [...]
There have been 12 bank closings since my last report (February 18).
Heritage Banking Group, Carthage, MSRosemount National Bank, Rosemount, MNSuperior Bank, Birmingham, ALNexity Bank, Birmingham, ALNew Horizons Bank, East Ellijay, GABartow County Bank, Cartersville, GAWestern Springs National Bank and Trust, Western Springs. ILNevada Commerce Bank, Las Vegas, NVThe Bank of Commerce, Wood Dale, ILFirst [...]
There have been 11 bank closings since my last report (January 28).
San Luis Trust Bank, FSB, San Luis Obispo, CA Charter Oak Bank, Napa, CA Citizens Bank of Effingham, Springfield, GA Habersham Bank, Clarksville, GA Badger State Bank, Cassville, WI Peoples State Bank, Hamtramck, MI Sunshine State Community Bank, Port Orange, FL Canyon National [...]