How I learned to love the economic crisis: 2010 edition

[jiimbergin]

Re: How I learned to love the economic crisis: 2010 edition

Beginning of 2nd quarter - only 1

Beach First National Bank

Myrtle Beach

SC

34242

April 9, 2010

April 9, 2010

42 for 2010 vs. 23 for 2009

Skoal!

Lots of kids had vacation either the week before or the week after Easter. I expect the closings to increase very soon

[GRG55]

Re: How I learned to love the economic crisis: 2010 edition

You know, I mentioned this to a friend of mine and they shrugged it off saying it's mainly small-fry going down now while in 2009 it was the big boys.

Do we have any comparison as to bank assets and FDIC costs?

This link may help answer your question...

[c1ue]

Re: How I learned to love the economic crisis: 2010 edition

You know, I mentioned this to a friend of mine and they shrugged it off saying it's mainly small-fry going down now while in 2009 it was the big boys.

Do we have any comparison as to bank assets and FDIC costs?

I haven't gone through and looked at FDIC cost yet, but here are the assets and deposit numbers.

Source link:
http://www.fdic.gov/BANK/HISTORICAL/BANK/index.html

March	Assets	Deposits
Beach First National Bank, Myrtle Beach, SC with approximately $585.1 million in assets and approximately $516.0 million in deposits was closed. Bank of North Carolina, Thomasville, NC has agreed to assume all deposits, excluding certain brokered deposits. (PR-073-2010)	585.1	516
Desert Hills Bank, Phoenix, AZ with approximately $496.6 million in assets and approximately $426.5 million in deposits was closed. New York Community Bank, Westbury, NY has agreed to assume all deposits, excluding certain brokered deposits. (PR-069-2010)	496.6	426.5
Unity National Bank, Cartersville, GA with approximately $292.2 million in assets and approximately $264.3 million in deposits was closed. Bank of the Ozarks, Little Rock, AR has agreed to assume all deposits, excluding certain brokered deposits. (PR-068-2010)	292.2	264.3
Key West Bank, Key West, FL with approximately $88.0 million in assets and approximately $67.7 million in deposits was closed. Centennial Bank, Conway, AR has agreed to assume all deposits, excluding certain brokered deposits. (PR-067-2010)	88	67.7
McIntosh Commercial Bank, Carrollton, GA with approximately $362.9 million in assets and approximately $343.3 million in deposits was closed. CharterBank, West Point, GA has agreed to assume all deposits, excluding certain brokered deposits. (PR-066-2010)	362.9	343.3
State Bank of Aurora, Aurora, MN with approximately $28.2 million in assets and approximately $27.8 million in deposits was closed. Northern State Bank, Ashland, WI has agreed to assume all deposits. (PR-062-2010)	28.2	27.8
First Lowndes Bank, Fort Deposit, AL with approximately $137.2 million in assets and approximately $131.1 million in deposits was closed. First Citizens Bank, Luverne, AL has agreed to assume all deposits. (PR-061-2010)	137.2	131.1
Bank of Hiawassee, Hiawassee, GA, with approximately $377.8 million in assets and approximately $339.9 million in deposits was closed. Citizens South Bank, Gastonia, NC has agreed to assume all deposits, excluding certain brokered deposits. (PR-060-2010)	377.8	339.9
Appalachian Community Bank, Ellijay, GA with approximately $1.01 billion in assets and approximately $917.6 million in deposits was closed. Community & Southern Bank, Carrollton, GA has agreed to assume all deposits. (PR-059-2010)	1010	917.6
Advanta Bank Corp., Draper, UT, with approximately $1.6 billion in assets and approximately $1.5 billion in deposits was approved for payout by the FDIC Board of Directors. (PR-058-2010)	1600	1500
Century Security Bank, Duluth, GA, with approximately $96.5 million in assets and approximately $94.0 million in deposits was closed. Bank of Upson, Thomaston, GA has agreed to assume all deposits, excluding certain brokered deposits. (PR-057-2010)	96.5	94
American National Bank, Parma, OH, with approximately $70.3 million in assets and approximately $66.8 million in deposits was closed. The National Bank and Trust Company, Wilmington, OH has agreed to assume all deposits, excluding certain brokered deposits. (PR-056-2010)	70.3	66.8
Statewide Bank, Covington, LA with approximately $243.2 million in assets and approximately $208.8 million in deposits was closed. Home Bank, Lafayette, LA has agreed to assume all deposits. (PR-053-2010)	243.2	208.8
Old Southern Bank, Orlando, FL with approximately $315.6 million in assets and approximately $319.7 million in deposits was closed. Centennial Bank, Conway, AR has agreed to assume all deposits. (PR-052-2010)	315.6	319.7
The Park Avenue Bank, New York, NY, with approximately $520.1 million in assets and approximately $494.5 million in deposits was closed. Valley National Bank, Wayne, NJ has agreed to assume all deposits, excluding certain brokered deposits. (PR-051-2010)	520.1	494.5
LibertyPointe Bank, New York, NY with approximately $209.7 million in assets and approximately $209.5 million in deposits was closed. Valley National Bank, Wayne, NJ has agreed to assume all deposits. (PR-049-2010)	209.7	209.5
Centennial Bank, Ogden, UT, with approximately $215.2 million in assets and approximately $205.1 million in deposits was approved for payout by the FDIC Board of Directors. (PR-046-2010)	215.2	205.1
Waterfield Bank, Germantown, MD with approximately $155.6 million in assets and approximately $156.4 million in deposits was closed. To protect the insured depositors, the FDIC created Waterfield Bank, FA - a new depository institution chartered by the Office of Thrift Supervision (OTS) and insured by the FDIC - to take over the operations of Waterfield Bank. The FDIC will mail checks directly to customers with CDs and IRAs for the amount of their insured funds. (PR-045-2010)	155.6	156.4
Bank of Illinois, Normal, IL with approximately $211.7 million in assets and approximately $198.5 million in deposits was closed. Heartland Bank and Trust Company, Bloomington, IL has agreed to assume all deposits, excluding certain brokered deposits. (PR-044-2010)	211.7	198.5
Sun American Bank, Boca Raton, FL with approximately $535.7 million in assets and approximately $443.5 million in deposits was closed. First-Citizens Bank & Trust Company, Raleigh, NC has agreed to assume all deposits, excluding certain brokered deposits. (PR-043-2010)	535.7	443.5
February
Rainier Pacific Bank, Tacoma, WA with approximately $717.8 million in assets and approximately $446.2 million in deposits was closed. Umpqua Bank, Roseburg, OR has agreed to assume all deposits, excluding certain brokered deposits. (PR-041-2010)	717.8	446.2
Carson River Community Bank, Carson City, NV with approximately $51.1 million in assets and approximately $50.0 million in deposits was closed. Heritage Bank of Nevada, Reno, NV has agreed to assume all deposits, excluding certain brokered deposits. (PR-040-2010)	51.1	50
La Jolla Bank, FSB, La Jolla, CA with approximately $3.8 billion in assets and approximately $2.8 billion in deposits was closed. OneWest Bank, FSB, Pasadena, CA has agreed to assume all deposits. (PR-034-2010)	3800	2800
George Washington Savings Bank, Orland Park, IL with approximately $412.8 million in assets and approximately $397.0 million in deposits was closed. FirstMerit Bank, N.A., Akron, OH has agreed to assume all deposits. (PR-033-2010)	412.8	397
The La Coste National Bank, La Coste, TX with approximately $53.9 million in assets and approximately $49.3 million in deposits was closed. Community National Bank, Hondo, TX has agreed to assume all deposits. (PR-032-2010)	53.9	49.3
Marco Community Bank, Marco Island, FL with approximately $119.6 million in assets and approximately $117.1 million in deposits was closed. Mutual of Omaha Bank, Omaha, NE has agreed to assume all deposits, excluding certain brokered deposits. (PR-031-2010)	119.6	117.1
1st American State Bank of Minnesota, Hancock, MN with approximately $18.2 million in assets and approximately $16.3 million in deposits was closed. Community Development Bank, FSB, Ogema, MN has agreed to assume all deposits. (PR-030-2010)	18.2	16.3
January
American Marine Bank, Bainbridge Island, WA with approximately $373.2 million in assets and approximately $308.5 million in deposits was closed. Columbia State Bank, Tacoma, WA has agreed to assume all deposits, excluding certain brokered deposits. (PR-027-2010)	373.2	308.5
First Regional Bank, Los Angeles, CA with approximately $2.18 billion in assets and approximately $1.87 billion in deposits was closed. First-Citizens Bank & Trust Company, Raleigh, NC has agreed to assume all deposits, excluding certain brokered deposits. (PR-026-2010)	2180	1870
Community Bank and Trust, Cornelia, GA with approximately $1.2 billion in assets and approximately $1.1 billion in deposits was closed. SCBT National Association, Orangeburg, SC has agreed to assume all deposits, excluding certain brokered deposits. (PR-025-2010)	1200	1100
Marshall Bank, N.A., Hallock, MN with approximately $59.9 million in assets and approximately $54.7 million in deposits was closed. United Valley Bank, Cavalier, ND has agreed to assume all deposits. (PR-024-2010)	59.9	54.7
Florida Community Bank, Immokalee, FL with approximately $875.5 million in assets and approximately $795.5 million in deposits was closed. Premier American Bank, N.A., Miami, FL has agreed to assume all deposits, excluding certain brokered deposits. (PR-023-2010)	875.5	795.5
First National Bank of Georgia, Carrollton, GA with approximately $832.6 million in assets and approximately $757.9 million in deposits was closed. Community and Southern Bank, Carrollton, GA has agreed to assume all deposits, excluding certain brokered deposits. (PR-022-2010)	832.6	757.9
Columbia River Bank, The Dalles, OR with approximately $1.1 billion in assets and approximately $1.0 billion in deposits was closed. Columbia State Bank, Tacoma, WA has agreed to assume all deposits. (PR-018-2010)	1100	1000
Evergreen Bank, Seattle, WA with approximately $488.5 million in assets and approximately $439.4 million in deposits was closed. Umpqua Bank, Roseburg, OR has agreed to assume all deposits, excluding certain brokered deposits. (PR-017-2010)	488.5	439.4
Charter Bank, Santa Fe, NM with approximately $1.2 billion in assets and approximately $851.5 million in deposits was closed. Charter Bank, Albuquerque, NM has agreed to assume all deposits, excluding certain brokered deposits. (PR-016-2010)	1200	851.5
Bank of Leeton, Leeton, MO with approximately $20.1 million in assets and approximately $20.4 million in deposits was closed. Sunflower Bank, N.A., Salina, KS has agreed to assume all deposits. (PR-015-2010)	20.1	20.4
Premier American Bank, Miami, FL with approximately $350.9 million in assets and approximately $326.3 million in deposits was closed. Premier American Bank, N.A., Miami, FL has agreed to assume all deposits, excluding certain brokered deposits. (PR-014-2010)	350.9	326.3
Barnes Banking Company, Kaysville, UT, with approximately $827.8 million in assets and $786.5 million in deposits was closed. The FDIC has created the Deposit Insurance National Bank of Kaysville, UT ("DINB of Kaysville") to facilitate the resolution of Barnes Banking Company, Kaysville, UT. (PR-010-2010)	827.8	786.5
St. Stephen State Bank, St. Stephen, MN with approximately $24.7 million in assets and approximately $23.4 million in deposits was closed. First State Bank of St. Joseph, St. Joseph, MN has agreed to assume all deposits. (PR-009-2010)	24.7	23.4
Town Community Bank and Trust, Antioch, IL with approximately $69.6 million in assets and approximately $67.4 million in deposits was closed. First American Bank, Elk Grove Village, IL has agreed to assume all deposits, excluding certain brokered deposits. (PR-008-2010)	69.6	67.4
Horizon Bank, Bellingham, WA with approximately $1.3 billion in assets and approximately $1.1 billion in deposits was closed. Washington Federal Savings and Loan Association, Seattle, WA has agreed to assume all deposits, excluding certain brokered deposits. (PR-004-2010)	1300	1100
Total	23627.8	20308.4
Average	562.57	483.53

To put this in perspective:

FDIC-Insured Institutions
Number as of 4/8/2010	7,948
Assets as of 12/31/2009	$13,132,190
Deposits as of 12/31/2009	$9,242,378

The failed banks represent 0.18% of total FDIC bank assets and 0.22% of total FDIC insured bank deposits.

So your friend is right.

But then again, would you be happy if 0.2 cents of every dollar you held in a bank vanished in the first 3 months of 2010?

It seems likely we will achieve a near 1% level by the end of the year...

The other thing to keep in mind: the literally trillions spent to prop up the TBTF banks.

Makes the $23B for the failed banks of 2010 (thus far) seem insignificant...

[GRG55]

Re: How I learned to love the economic crisis: 2010 edition

I haven't gone through and looked at FDIC cost yet, but here are the assets and deposit numbers.

Source link:
http://www.fdic.gov/BANK/HISTORICAL/BANK/index.html



To put this in perspective:

FDIC-Insured Institutions
Number as of 4/8/2010	7,948
Assets as of 12/31/2009	$13,132,190
Deposits as of 12/31/2009	$9,242,378

The failed banks represent 0.18% of total FDIC bank assets and 0.22% of total FDIC insured bank deposits.

So your friend is right.

But then again, would you be happy if 0.2 cents of every dollar you held in a bank vanished in the first 3 months of 2010?

It seems likely we will achieve a near 1% level by the end of the year...

The other thing to keep in mind: the literally trillions spent to prop up the TBTF banks.

Makes the $23B for the failed banks of 2010 (thus far) seem insignificant...

The big difference imo is that the TBTF banks are needed to keep the flames of FIRE burning. An impaired regional banking system means the productive economy gets starved for credit. Would any worker or manufacturing firm in the USA really give a damn if Goldman Sachs disappeared?

[c1ue]

Re: How I learned to love the economic crisis: 2010 edition

The big difference imo is that the TBTF banks are needed to keep the flames of FIRE burning. An impaired regional banking system means the productive economy gets starved for credit. Would any worker or manufacturing firm in the USA really give a damn if Goldman Sachs disappeared?

Amen, brother.

I failed to note that the $23B in deposits that disappeared likely represented around $200B or more in loans.

Is that significant? I think so.

Of course the entire number of loans didn't vanish - some at least were assumed by the acquiring bank.

But systemically there is no question that total loans outstanding - both amounts and numbers - are falling.

[jiimbergin]

Re: How I learned to love the economic crisis: 2010 edition

FDIC is starting to catch up from the Easter break - 8 more this week

Bank Name	City	State	CERT #	Closing Date	Updated Date
City Bank	Lynnwood	WA	21521	April 16, 2010	April 16, 2010
Tamalpais Bank	San Rafael	CA	33493	April 16, 2010	April 16, 2010
Innovative Bank	Oakland	CA	23876	April 16, 2010	April 16, 2010
Butler Bank	Lowell	MA	26619	April 16, 2010	April 16, 2010
Riverside National Bank of Florida	Fort Pierce	FL	24067	April 16, 2010	April 16, 2010
AmericanFirst Bank	Clermont	FL	57724	April 16, 2010	April 16, 2010
First Federal Bank of North Florida	Palatka	FL	28886	April 16, 2010	April 16, 2010
Lakeside Community Bank	Sterling Heights	MI	34878	April 16, 2010	April 16, 2010

[c1ue]

Re: How I learned to love the economic crisis: 2010 edition

50 so far in 2010 vs. 25 in the same week in 2009

Skoal! Skoal! Skoal! Skoal! Skoal!

*gasp*

Skoal! Skoal! Skoal!

[jiimbergin]

Re: How I learned to love the economic crisis: 2010 edition

Bank Name	City	State	CERT #	Closing Date	Updated Date
Wheatland Bank	Naperville	IL	58429	April 23, 2010	April 23, 2010
Peotone Bank and Trust Company	Peotone	IL	10888	April 23, 2010	April 23, 2010
Lincoln Park Savings Bank	Chicago	IL	30600	April 23, 2010	April 23, 2010
New Century Bank	Chicago	IL	34821	April 23, 2010	April 23, 2010
Citizens Bank and Trust Company of Chicago	Chicago	IL	34658	April 23, 2010	April 23, 2010
Broadway Bank	Chicago	IL	22853	April 23, 2010	April 23, 2010
Amcore Bank, National Association	Rockford	IL	3735	April 23, 2010	April 23, 2010

only 7 this week. Including one of Obama's friend's

April 24 (Bloomberg) -- U.S. Senate candidate Alexi Giannoulias, the Democratic candidate seeking the seat once held by President Barack Obama in Illinois, vowed to press on with his campaign after regulators seized the bank his family owns.
“My campaign for the United States Senate goes forward, with a renewed determination to turn Illinois’s economy around and to fix what’s broken in Washington, D.C.,” Giannoulias said.
Broadway Bank had been operating since January under terms of a consent order with the Federal Deposit Insurance Corp. because of commercial real-estate loan losses.
“Unlike the big Wall Street banks, there was no bailout for my father’s bank,” Giannoulias said, fighting back tears at a news conference at a Chicago hotel yesterday. “It is an incredibly sad and heartbreaking day for me and for my family.”
The bank, whose profits helped finance and provide credibility to Giannoulias’s successful 2006 state treasurer bid, has shaped a contest for a seat Democrats have unexpectedly found themselves defending and one that will help determine whether Obama’s party keeps its Senate majority.
Republican nominee Mark Kirk, 50, a five-term congressman from Chicago’s northern suburbs, has repeatedly suggested Giannoulias, 34, exercised bad judgment while working at the bank from 2002 through 2006 as a senior loan officer and vice president.
‘Risky Lending Schemes’
“While years of risky lending schemes, hot money investments and loans to organized crime led to today’s failure, it’s a sad day for Broadway Bank employees who may lose their jobs due to Mr. Giannoulias’ reckless business practices,” Kirk’s campaign said in a statement.

http://www.bloomberg.com/apps/news?p...rFjb5LoI&pos=7

[Chomsky]

Re: How I learned to love the economic crisis: 2010 edition

That's 57 for the year, v. 140 in all of 2009.

[c1ue]

Re: How I learned to love the economic crisis: 2010 edition

And vs. 29 for the same period last year. 2x run rate still ongoing.

[c1ue]

Re: How I learned to love the economic crisis: 2010 edition

Looks like the FDIC road show is in Puerto Rico this week - after last week's Illinois trip:

Westernbank Puerto Rico	Mayaguez	PR	31027	April 30, 2010	April 30, 2010
R-G Premier Bank of Puerto Rico	Hato Rey	PR	32185	April 30, 2010	April 30, 2010
Eurobank	San Juan	PR	27150	April 30, 2010	April 30, 2010

2 pm PST and 60 for 2010 vs. 32 for 2009

BC National Banks	Butler	MO	17792	April 30, 2010	April 30, 2010
Champion Bank	Creve Coeur	MO	58362	April 30, 2010	April 30, 2010
CF Bancorp	Port Huron	MI	30005	April 30, 2010	April 30, 2010

5:30 PST and now 63 vs. 32

Skoal! Skoal! Skoal! Skoal! Skoal!
*gasp*
Skoal!

Make that 64 vs. 32

Frontier Bank

Everett

WA

22710

April 30, 2010

April 30, 2010

Skoal!

[jiimbergin]

Re: How I learned to love the economic crisis: 2010 edition

Bank Name	City	State	CERT #	Closing Date	Updated Date
1st Pacific Bank of California	San Diego	CA	35517	May 7, 2010	May 7, 2010
Towne Bank of Arizona	Mesa	AZ	57697	May 7, 2010	May 7, 2010
Access Bank	Champlin	MN	16476	May 7, 2010	May 7, 2010
The Bank of Bonifay	Bonifay	FL	14246	May 7, 2010	May 7, 2010

Only 4 small ones this week, compared to much larger PR banks last week.

[c1ue]

Re: How I learned to love the economic crisis: 2010 edition

68 for 2010 vs 33 for 2009 now...

[c1ue]

Re: How I learned to love the economic crisis: 2010 edition

Midwest Bank and Trust Company	Elmwood Park	IL	18117	May 14, 2010	May 14, 2010
Southwest Community Bank	Springfield	MO	34255	May 14, 2010	May 14, 2010
New Liberty Bank	Plymouth	MI	35586	May 14, 2010	May 14, 2010
Satilla Community Bank	Saint Marys	GA	35114	May 14, 2010	May 14, 2010

72 for 2010 vs 33 for 2009 - pulling away from even the 2:1 ratio...

Skoal! Skoal! Skoal! Skoal!

[c1ue]

Re: How I learned to love the economic crisis: 2010 edition

Pinehurst Bank

Saint Paul

MN

57735

May 21, 2010

May 21, 2010

Only 1 failure this week - the count is now 73 vs 36

Only 1 failure in the May 23 - June 18 period in 2009, so more opportunity for 2010 to sprint ahead...

Skoal!