Another weekend, another pile of shut downs, via The Chart Store:

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Category: Credit, Regulation

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

10 Responses to “FDIC Bank Failures”

  1. Petey Wheatstraw says:

    Is this a good thing, or a bad thing?

  2. eli.jones@gmail.com says:

    Barry,

    Why doesn’t anyone make charts tracking the Total Amount of Deposits at failed banks? It seems like this is the most important numerical value to track sense you can do a sensible comparison over time (once that amount is adjusted for inflation). Or, do people generate charts like this… but no one is interested?

    For example, that little blip showing Washington Mutual is way more significant that say some blip showing a failure of some bank in the Ozark Mountains with $20 million in deposits.

    I’m just always curious why this never shows up when these charts are updated at the various blogs.

  3. rktbrkr says:

    Continuing concentration of power in some of the worst run banks subsidized directly & indirectly by US taxpayer. Many more small & mid-sized banks will give up the ghosts when we mire in the double dip

  4. Petey Wheatstraw says:

    In the New Reality, bank failures are not news. Failed banks are nothing more than fiat dollars waiting to happen. Thanks to fiat, there’s no gaping hole that can’t be filled in and papered over. Your un-tax dollars at work.

  5. Thalamus says:

    I agree, a chart with the inflation adjusted dollar value of bank closed would be much more meaningful than quantity of banks closed. This extended downturn is going to cause many to bail the fox holes and do irrational things that haven’t been done yet, like sell their house, commercial buildings, real estate in general–causing acceleration of the current trend.

  6. VennData says:

    I assume the Tea Party stance on FDIC-insured institutions is to simply cancel it and to retroactively claw back any handouts to any folks who got their deposits reimbursed since Iman Obama occupied the Oval Office (…I’m amazed at how the MTM hasn’t found the mosque he’s got hidden there.)

    …not to mention anyone whose money market was – egad! – government insured post-Lehman (where do I send the check?)

  7. gmherger says:

    More illuminating statistics (than numbers of banks failing) would be total assets, total deposits and estimated FDIC losses.

    Here’s the FDIC link to the press release for ShoreBank:

    http://www.fdic.gov/news/news/press/2010/pr10193.html

    That bank was closed last Friday and FDIC appointed receiver. Most of the bank’s assets were “sold” via a “purchase and assumption agreement” to a group made up of bank management/officers (highly unusual).

    The failed bank had total assets of $2.2 billion; total deposits of $1.6 billion; and FDIC estimates the loss to the FDI fund at $368 million, or about 23% of deposits paid out.

    As part of the purchase deal a group of Walll Street banks will pony up $140 to 150 milllion. The bank failed when an attempt to get the US Treasury to throw in $75 million fell through. Again, highly unusual.

    ShoreBank had close ties to the Obama administration – the most ethical White House US in history.

    Venndata and Petey: No FDIC bank failure has cost the taxpayer anything. When you assume you make an ass out of yourself.

  8. VD,

    you are sure Proof that Culture is, indeed, a Communicable disease..
    ~~
    and, speaking of ‘sweet nothings’…

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    260.00 AAPL100827C00260000 0.46 0.21 0.42 0.46 3,139 1,396
    270.00 AAPL100827C00270000 0.07 0.09 0.06 0.08 469 506
    280.00 AAPL100827C00280000 0.04 0.03 0.02 0.05 193 303
    300.00 AAPL100827C00300000 0.02 0.00 0.01 0.05 0 3
    those Aug-series AAPL Calls..are no longer Fat, their Buyers are, probably, still, Dumb, but, now, maybe, less Happy..
    http://finance.yahoo.com/q/op?s=AAPL+Options

  9. Greg0658 says:

    after that soft drink chart .. is there an additional chart of bank branches caught in M&A each month .. if I was a bank manager I would at least try to get an M&A before FDIC stepped in .. not the same personna to you types (maybe) but those of us that (umm) know what m&a means to commercial property and underlings and (at the bar today) upper-esch types ie: a local auto parts m&a

  10. cognos says:

    Costs of failures is a chart on the same website.

    Costs are dropping fast – 3 of lowest 6 months recorded in 2.5 years of crIsis are in the last 6 months.

    The ONLY significant costs this year were the group of Puerto Rican banks.

    More than 50% of recEnt bank closures have cost FDIC less than $100m ( large failure are more than $1b, the largest more than 5b)