FDIC

From the FDIC (emphasis added): The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of RockBridge Commercial Bank, Atlanta, Georgia. The bank was closed today by the Georgia Department of Banking…

You kind of knew this was going to happen.  Given the fact that AmTrust Financial, the holding company filed bankruptcy (see my story here) after a bit of asset stripping, the FDIC was forced to come in and seize the banking subsidiary…

Yesterday I wrote how bank bankruptcies are crushing small business and households in Georgia. Today we got three more to bring the total to 23 this year, 29 since the subprime crisis began. The Buckhead Community Bank, Atlanta, Georgia…

AmTrust Financial, a privately held regional bank holding company based in Cleveland, has just filed for bankruptcy. With well over $10 billion in assets, AmTrust Bank is fairly large. The circumstances surrounding its failure are unusual…

A lot has been made of the most recent FDIC quarterly report, especially the large increase in problem banks to 550 – at least in the blogospehere; some media outlets seem to be burying this news.  Underneath this news are the specific…

Is this propaganda? I just received this e-mail from the FDIC’s consumer news with the title above. Personally, I never doubted that unbrokered deposits under $250,000 are safe at U.S. depositary institutions. But, the natural sceptic in me…

Orion Bank, Naples, Florida As of October 31, 2009, Orion Bank had total assets of $2.7 billion and total deposits of approximately $2.1 billion. The FDIC accepted a 1.5 percent discount from IBERIABANK on the deposits of the failed…

Of the five, United Commercial is pretty darn big ($11.2 billion in assets) United Commercial Bank San Francisco, CA As of October 23, 2009, United Commercial Bank had total assets of $11.2 billion and total deposits of…

This is the biggest weekend for FDIC seizures yet. Seven banks have been shut down. Below is the list of banks. Partners Bank, Naples, Florida (Stonegate assumes assets) As of September 30, 2009, Partners Bank had total assets of…

From the FDIC: San Joaquin Bank, Bakersfield, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors,…