Bank Failure Friday: Nine Banks, One Big Failure 10/31

[peaceandlove]

Bank Failure Friday: Nine Banks, One Big Failure

by Paul Kiel, ProPublica - October 31, 2009 10:26 am EDT

On the one hand, yesterday was just another Friday. Nine more banks failed, bringing the year’s toll to 115. As always, our big list has been updated.

But yesterday was also a bit different, because all nine banks were subsidiaries of the same company, FBOP Corporation. US Bank of Minnesota gobbled up all of FBOP’s deposits and almost all of its assets.

All together, FBOP was sizable bank-holding company, the 46th biggest in the country, according to the Federal Reserve. It had $19.4 billion in assets as of September 30.

Continues: http://www.propublica.org/ion/bailou...g-failure-1031
Eye on the Bailout....Recipients, Programs, Timeline, Bailout Map...same link

SOURCE: http://st0ckman.blogspot.com/2009/10...s-one-big.html



SEE ALSO STEVE A's Thread: Colonial Bank Goes Bust http://projectavalon.net/forum/showt...=colonial+bank

[peaceandlove]

Deja vu with the Nines, only these 9 are starting off in 2010!!!

SOURCED from G. Edward Griffin's site: http://www.realityzone.com/currentperiod.html

US: Nine new bank failures so far in early 2010 –following 140 closures last year – with no letup in sight. My Way 2010 Jan 22 (Cached)

Banks shut in Fla., Mo., NM, Ore., Wash.

Jan 22, 10:19 PM (ET)
By MARCY GORDON

WASHINGTON (AP) - Regulators shut down banks Friday in Florida, Missouri, New Mexico, Oregon and Washington, bringing to nine the number of bank failures so far in 2010, following 140 closures last year in the toughest economic environment since the Great Depression.

The Federal Deposit Insurance Corp. took over the five banks: Charter Bank, based in Santa Fe, N.M., with $1.2 billion in assets and $851.5 million in deposits; Miami-based Premier American Bank, with $350.9 million in assets and $326.3 million in deposits; Bank of Leeton in Leeton, Mo., with $20.1 million in assets and $20.4 million in deposits; Columbia River Bank, based in The Dalles, Ore., with $1.1 billion in assets and $1 billion in deposits; and Seattle-based Evergreen Bank, with $488.5 million in assets and $439.4 million in deposits.

Continues: http://apnews.myway.com/article/20100123/D9DD6LEG0.html