Archive for the ‘Bank Failures’ Category
U.S. Bank Failures in 2010 Rise to 20
By DAMIAN PALETTA WSJ
WASHINGTON—Regulators shuttered four banks Friday, from Florida to California, as local banks continue to buckle across the country.
Twenty banks have toppled so far in 2010 and 185 have failed since January 2008, with regulators expecting to close dozens more by the end of this year. The Federal Deposit Insurance Corp. estimated the four failures Friday cost its deposit insurance fund more than $1 billion.
Posted in TARP Panel: Small Banks Are Facing Loan Woes
By CARRICK MOLLENKAMP And MAURICE TAMMAN WSJ
Nearly 3,000 small U.S. banks could be forced to dramatically curtail their lending because of losses on commercial real-estate loans, a congressional inquiry concluded.
Six More Banks Shut By Federal Regulators
By MICHAEL R. CRITTENDEN WSJ
U.S. regulators closed at least six more banks on Friday, including two in Georgia, as the fallout from the financial crisis continued to be felt by smaller financial institutions across the country.
Five Banks Fail; Year’s Total at 9
By DAN FITZPATRICK WSJ
Regulators seized five banks in Florida, Missouri, New Mexico, Oregon and Washington, lifting the total number of failures this year to nine as financial institutions struggle with loan defaults and a weak economy.
Two Banks Fail in Minnesota and Illinois
By SARAH N. LYNCH
WASHINGTON—Banks in Minnesota and Illinois were shut down by state regulators Friday, becoming the second and third banks to fail in 2010 after 140 last year.
FDIC Moves to Seize Slice of Bank-Stock Rallies
By ROBIN SIDEL WSJ
The government has auctioned off more than 100 failed banks this year to other financial institutions. Now, it wants a bigger cut of the action.
FDIC Draws Brisk Bidding on Loans by Failed Banks
By LINGLING WEI WSJ
Investors are jostling for the chance to buy a $1.1 billion package of commercial real-estate loans extended by failed banks, as these once-toxic assets attract growing interest.
Agencies in a Brawl for Control Over Banks
By DAMIAN PALETTA WSJ
WASHINGTON — In the darkest days of the financial crisis a year ago, Sheila Bair was hailed for having predicted the housing bust. Today, the chief of the Federal Deposit Insurance Corp. is fighting for her agency’s future.
Bank Agency Boosts Budget 35%
By MICHAEL R. CRITTENDEN WSJ
The Federal Deposit Insurance Corp. in the next year plans to add more than 1,600 staffers, mostly to handle bank failures, and is pushing its budget up 35% as the number of tottering banks climbs.