Wow, we are on quite the pace this year!

click for larger chart

Category: Credit

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10 Responses to “2010 Bank Failure #37”

  1. says:

    Quite a pace? With all respect: The chart above is just the opening band.

    We aint seen anything ….. YET!

    Elizabeth Warren says 2,889 of the 8,000 community banks are in serious trouble with CRE and pose systemic risk to all.

    The Alt-A’s and Option Arms (another 1.5 trillion (same as the subprime of 07/08) are defaulting this year.

    Add that to the 750+/- banks on the troubled list.

    The chart above is just the opening band.

  2. ZackAttack says:

    Too bad the truly insolvent ones will never see this list.

  3. says:

    “Too bad the truly insolvent ones will never see this list.”

    LOL, isn’t that the truth. The top 4 have over 200 trillion off balance in derivatives. That isn’t a shadow that’s an eclipse. I think they all will fail soon enough. They can’t prop up or save 1.6 quadrillion of toxicity.

  4. pravin404 says:

    The Q1 bank failures since 2008 are increasing.
    We have seen 2 bank failures in 2008, 21 in 2009 and 37 in 2010.
    Quite interesting !

  5. cognos says:

    This week was a big number and some larger banks and some very high lost estimates. Its definately somethign to watch.

    (Which is a weird set of data considering how much better everything is from 1-yr ago… how is any bank insolvent today? Given that credit products and project finance is up 50-100% across the board over the past year? Including strong Q4 last year AND Q1 this year?).

    That said, prior to Friday most of the recent bank failures had been VERY small. The trend for size of closures and size of losses still looks like its way down (Friday being an uptick, and something to watch).

  6. says:

    APrivin404: Don’t think those numbers are accurate

  7. cognos says:

    Approx half of the “37 bank failures” in 2010… or about 19 of them… have cost about $50M or less in FDIC estimate costs. Considering large bank failures have cost of the FDIC $3-4-5B at a single pop. These failures seem small.

    That said, a couple of the failures last Friday were of the $B+ in assets variety and the largest one cost $635M in estimated costs to the FDIC. That’s not insignificant.

    Those numbers are what I am watching. (And I am expecting a continued move to small bank failures and smaller estimated costs… we’ve seen this trend for over 1 year now, and I expect it to solidify. But data is key.)

  8. alfred e says:

    Hey. The economy is still running on stimulus fumes. And faked accounting rules. Gov stats are beyond useless. TASS did a better job or reporting the truth.

    They continue to kick the can down the road WRT CRE and RRE.

    The IED is still there in the road. And the pressure is building.

    To their credit the market pump has loosened some wallets and kept some pension funds afloat. Temporarily.

    But the entire system verges on a much needed collapse and purge. Starting with Congress.

  9. alfred e says:

    “of” reporting the truth

  10. Mark Down says:

    Over/Under[150] 2010 Bank Failures !
    Orangemen by 10 or better over Butlermen !