GA Bank failures

[pwcmba]

FDIC is busy in Georgia tonight!

http://www.fdic.gov/bank/individual/.../banklist.html

Bank Closing Information - July 24, 2009

Security Bank of Jones County, Gray, GA
Security Bank of Houston County, Perry, GA
Security Bank of Bibb County, Macon, GA
Security Bank of North Metro, Woodstock, GA
Security Bank of North Fulton, Alpharetta, GA
Security Bank of Gwinnett County, Suwanee, GA
Waterford Village Bank, Williamsville, NY

[Slimprofits]

Re: GA Bank failures

wow, Seven!!! I don't think they've closed that many banks on just one Friday during this cycle until today. It's been about two per week for a while now.

[pwcmba]

Re: GA Bank failures

My friend's dad owns a small bank in New York and his perspective is that FDIC is not intentionally delaying bank closings. They simply do not have the resources to get it done any quicker. I think that is backed up when one observes that the closings generally are in the same geographic area. Below is the one that really scares me!

https://www.aigbank.com/aigbank/setP...eposit&BAC-ADX

[Chomsky]

Re: GA Bank failures

wow, Seven!!! I don't think they've closed that many banks on just one Friday during this cycle until today. It's been about two per week for a while now.

Seven were closed on July 2.

Bank Name	City	State	CERT #	Closing Date	Updated Date

Founders Bank	Worth	IL	18390	July 2, 2009	July 7, 2009
Millennium State Bank of Texas	Dallas	TX	57667	July 2, 2009	July 7, 2009
First National Bank of Danville	Danville	IL	3644	July 2, 2009	July 7, 2009
Elizabeth State Bank	Elizabeth	IL	9262	July 2, 2009	July 7, 2009
Rock River Bank	Oregon	IL	15302	July 2, 2009	July 7, 2009
First State Bank of Winchester	Winchester	IL	11710	July 2, 2009	July 7, 2009
John Warner Bank	Clinton	IL	12093	July 2, 2009	July 8, 2009

[Rekutyn]

Re: GA Bank failures

http://www.thislife.org/Radio_Episode.aspx?episode=377

This is a great public radio story about how the FDIC goes about transferring a banks ownership.

[flintlock]

Re: GA Bank failures

One of my customers was an officer in one of those banks in GA. I remember him trying to get me to switch to his bank. :eek:

Atlanta was big into the home construction boom so its not a surprise to me these Johnny come lately small banks are failing. If I'm not mistaken they were major lenders to home builders and developers.

[don]

Re: GA Bank failures

One of my customers was an officer in one of those banks in GA. I remember him trying to get me to switch to his bank. :eek:

Atlanta was big into the home construction boom so its not a surprise to me these Johnny come lately small banks are failing. If I'm not mistaken they were major lenders to home builders and developers.

when I read your opening lines my face made the same expression as your icon. Egads.