How I learned to love the economic crisis

[mmr]

Re: How I learned to love the economic crisis

They're just experiencing some processing delays while preparing the next batch.

Sheila can't afford to let the "Deposit Insurance Fund" drop too far below zero without "refilling" it, or else she might lose out in her ongoing battle with Geithner. Once that problem is solved through the next round of bank assessments in late October, the floodgates will probably open up again.

[c1ue]

Re: How I learned to love the economic crisis

Two more in the round file of history...

Jennings State Bank	Spring Grove	MN	11416	October 2, 2009	October 2, 2009
Warren Bank	Warren	MI	34824	October 2, 2009	October 2, 2009

Skoal! Skoal!

[GRG55]

Re: How I learned to love the economic crisis

Two more in the round file of history...

Jennings State Bank	Spring Grove	MN	11416	October 2, 2009	October 2, 2009
Warren Bank	Warren	MI	34824	October 2, 2009	October 2, 2009

Skoal! Skoal!

And then came Number 98. From the FDIC website:

Legacy Bank, Wiley, Colorado, Assumes All of the Deposits of Southern Colorado National Bank, Pueblo, Colorado

FOR IMMEDIATE RELEASE October 2, 2009

Southern Colorado National Bank, Pueblo, Colorado, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Legacy Bank, Wiley, Colorado, to assume all of the deposits of Southern Colorado National Bank...

...The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $6.6 million. Legacy Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to alternatives. Southern Colorado National Bank is the 98th FDIC-insured institution to fail in the nation this year, and the third in Colorado...

[c1ue]

Re: How I learned to love the economic crisis

And then came Number 98. From the FDIC website:

Drat those FDIC! 5 pm PST on a Friday apparently isn't the deadline for adding failed banks to the list...

I guess I'll have to 'roll over' the extra into next Friday...

[c1ue]

Re: How I learned to love the economic crisis

It appeared the drinking game was dead after successive weeks of no banks closed and 1 bank closed.

But with the addition of 7 banks failed on 10/23/09, it seems that the dearth was primarily due to closing the big bank: Georgian.

mmreilly was right!

First DuPage Bank	Westmont	IL	35038	October 23, 2009	October 23, 2009
Riverview Community Bank	Otsego	MN	57525	October 23, 2009	October 23, 2009
Bank of Elmwood	Racine	WI	18321	October 23, 2009	October 23, 2009
Flagship National Bank	Bradenton	FL	35044	October 23, 2009	October 23, 2009
Hillcrest Bank Florida	Naples	FL	58336	October 23, 2009	October 23, 2009
American United Bank	Lawrenceville	GA	57794	October 23, 2009	October 23, 2009
Partners Bank	Naples	FL	57959	October 23, 2009	October 23, 2009
San Joaquin Bank	Bakersfield	CA	23266	October 16, 2009	October 21, 2009

Skoal! Skoal! Skoal! Skoal! Skoal! *cough* *cough* deep breath Skoal! Skoal!

The recovery in bank failures is underway?!?

[metalman]

Re: How I learned to love the economic crisis

They're just experiencing some processing delays while preparing the next batch.

Sheila can't afford to let the "Deposit Insurance Fund" drop too far below zero without "refilling" it, or else she might lose out in her ongoing battle with Geithner. Once that problem is solved through the next round of bank assessments in late October, the floodgates will probably open up again.

good call! you nailed it.

[c1ue]

Re: How I learned to love the economic crisis

I think I'm going to have to switch from vodka shots to beer shots...

North Houston Bank	Houston	TX	18776	October 30, 2009	October 30, 2009
Madisonville State Bank	Madisonville	TX	33782	October 30, 2009	October 30, 2009
Citizens National Bank	Teague	TX	25222	October 30, 2009	October 30, 2009
Park National Bank	Chicago	IL	11677	October 30, 2009	October 30, 2009
Pacific National Bank	San Francisco	CA	30006	October 30, 2009	October 30, 2009
California National Bank	Los Angeles	CA	34659	October 30, 2009	October 30, 2009
San Diego National Bank	San Diego	CA	23594	October 30, 2009	October 30, 2009
Community Bank of Lemont	Lemont	IL	35291	October 30, 2009	October 30, 2009
Bank USA, N.A.	Phoenix	AZ	32218	October 30, 2009	October 30, 2009

Skoal! Skoal! Skoal! Skoal! Skoal! Skoal! Skoal! Skoal! Skoal!

On a separate note - it appears US Bancorp is going to be the next TBTF at this rate...

[touchring]

Re: How I learned to love the economic crisis

Bank USA, N.A.

this one got a nice name.

[metalman]

Re: How I learned to love the economic crisis

I think I'm going to have to switch from vodka shots to beer shots...



Skoal! Skoal! Skoal! Skoal! Skoal! Skoal! Skoal! Skoal! Skoal!

On a separate note - it appears US Bancorp is going to be the next TBTF at this rate...

if you do drink, don't drink & drive a fork lift. in russia, of course...



Fork Lift Accident Brings Down The Warehouse - Watch more Funny Videos

[Chomsky]

Re: How I learned to love the economic crisis

I think I'm going to have to switch from vodka shots to beer shots...



Skoal! Skoal! Skoal! Skoal! Skoal! Skoal! Skoal! Skoal! Skoal!

On a separate note - it appears US Bancorp is going to be the next TBTF at this rate...

Skoal! Skoal! Skoal! Skoal! Skoal!

Five today.

United Commercial Bank San Francisco CA
Gateway Bank of St. Louis St. Louis MO
Prosperan Bank Oakdale MN
Home Federal Savings Bank Detroit MI
United Security Bank Sparta GA

[c1ue]

Re: How I learned to love the economic crisis

Beat me to the thread I started :rolleyes:

Of course at 3 pm there was only 1 bank on the list...

Skoal! Skoal! Skoal! Skoal! Skoal!

[c1ue]

Re: How I learned to love the economic crisis

3 more bottles of beer - er banks - down...

Pacific Coast National Bank	San Clemente	CA	57914	November 13, 2009	November 13, 2009
Orion Bank	Naples	FL	22427	November 13, 2009	November 13, 2009
Century Bank, F.S.B.	Sarasota	FL	32267	November 13, 2009	November 13, 2009

Skoal! Skoal! Skoal!

[c1ue]

Re: How I learned to love the economic crisis

Only one failed bank this week:

Commerce Bank of Southwest Florida

Fort Myers

FL

58016

November 20, 2009

November 20, 2009

Skoal!

[Chomsky]

Re: How I learned to love the economic crisis

Only one failed bank this week:

Commerce Bank of Southwest Florida

Fort Myers

FL

58016

November 20, 2009

November 20, 2009

Skoal!

Skoal! Skoal! Skoal! Skoal! Skoal! Skoal!

Greater Atlantic Bank Reston VA
Benchmark Bank Aurora IL
AmTrust Bank Cleveland OH
The Tattnall Bank Reidsville GA
First Security National Bank Norcross GA
The Buckhead Community Bank Atlanta GA

Lucky six!

[Chomsky]

Re: How I learned to love the economic crisis

Skoal! Skoal! Skoal! Skoal! Skoal! Skoal!

Greater Atlantic Bank Reston VA
Benchmark Bank Aurora IL
AmTrust Bank Cleveland OH
The Tattnall Bank Reidsville GA
First Security National Bank Norcross GA
The Buckhead Community Bank Atlanta GA

Lucky six!

Skoal! Skoal! Skoal!

Three more bite the dust.

SolutionsBank Overland Park, KS
Valley Capital Bank, N.A. AZ
Republic Federal Bank, N.A. FL