FDIC Bank Failures (106)
By Barry Ritholtz - October 26th, 2009, 10:00AM
7 new lucky ladies to add to the count brings the 2009 total up to 106:
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click for larger graphics
Chart Courtesy of Washington Post
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Chart via Ron Griess of The Chart Store)
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See also:
Bank failures hit 106 for year; many more are weak
DANIEL WAGNER
AP Online,October 24, 2009
http://www.washingtonpost.com/wp-dyn/content/article/2009/10/24/AR2009102400301.html
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October 26th, 2009 at 6:35 am
4:30 am post. Don’t you sleep?
October 26th, 2009 at 7:09 am
[...] seems to be Real Estate Monday, as a series of intriguing articles have broken [...]
October 26th, 2009 at 7:20 am
Check all the bank failures list and the snapshot at
http://portalseven.com/banks/index.jsp
You can check
* Recent Bank Failures
* Biggest Bank Failures
* Number of State-wise Banks Failures
* Costliest Bank Failures for FDIC
* Biggest Loss Sharing Agreements for FDIC.
October 26th, 2009 at 10:32 am
Boy, that Colonial Bank failure in Montgomery, AL was a biggie. Colonial was a big player and one of my biggest competitors locally. When they went caput, there was real change in the air. The banking business in Alabama has moved away from 4-5 big daddy banks who owned it all, to 20-25 small to mid-size banks, along with what’s left of a couple of the big boys. It’s turned the little banker suburbs on their heads. Places like Mountain Brook, while still incestuous in their bloodlines, have had to watch a lot of folks pack up and move out.
On another note, totally unrelated, the MyCoke rewards program from drinking sodas and putting in codes is a waste of time. The coupons they send you as a reward aren’t accepted by convenience stores, and the folks at Wal Mart and Publix don’t know how to scan them. And then you still have to anty up some loose change to pay the sales tax. Waste of time….
October 26th, 2009 at 10:58 am
My fear is that this list is just the bank failures being ‘fessed up to!
Have you seen the settlement numbers on these failures. After liquidation most of them are between 30-40% in the hole. How can this be possible with the Prompt Corrective Action laws we have on the books, which in essence should restrict the losses taken by the FDIC to no more than 5% in a bad market. I just don’t understand it?
Can someone set me straight please.
October 26th, 2009 at 11:12 am
The Fed should be on the list.
October 26th, 2009 at 11:13 am
No matter how much lipstick they put on these pigs, it’s all going to go pear-shaped.
October 26th, 2009 at 11:45 am
CNBC tells us not to worry about the bank closures since they pale in comparison to the S&L crisis. What CNBC dweebs are forgetting is this is just the beginning of what will turn into a very rapid acceleration of closures. Keep adding DXD over Dow 10k. Building a pretty big position over three days.
October 26th, 2009 at 12:07 pm
Eerily quiet on the ranch today given what is going on in the currency markets…
Thats a tell.
October 26th, 2009 at 12:39 pm
I was browsing through Barclays investor presentation and dug out a few numbers. I thought they were interesting because they paint a picture quite similar to what I’ve heard about many other of the large banks. From page 4, you can see that most activities have posted gigantic declines in profits from last year:
UK Retail Banking: – 61%
Barclays Commercial Bank: – 42%
Barclaycard: – 1%
GRCB –Western Europe: – 73%
GRCB – Emerging Markets: – 86%
GRCB – Absa: – 17%
Barclays Capital: + 100%
Barclays Global Investors: +4% (BGI was sold to BlackRock)
Barclays Wealth: – 59%
October 26th, 2009 at 2:37 pm
Exactly. All losses except for trading using our large US and UK government gift. Now give us MORE !!!