By: Keith Brock
November 06, 2009
http://www.can-you-hear-us-now.com/
Should we be worried yet? The reason I ask is that 17 banks have been taken over in the first six days of November. Notice that between September 2000 and December 2008, 27 banks went under. Should I be worried yet about more than just the loss of jobs equal to a large city last month? Keep your eyes on the FDIC; this could portend even worse. There was little or no news on this disturbing trend that I saw in the Lame-Stream Media.
DesertCactus
-----------------------------
11-24-09
By Jessica Holzer
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The government insurance fund that protects more than $4.5 trillion of U.S. bank deposits slipped into the red at the end of September, after fifty banks collapsed during the third quarter.
The deposit insurance fund dropped by $18.6 billion during the third quarter of 2009 to negative $8.2 billion, as the Federal Deposit Insurance Corp. set aside $21.7 billion in provisions for additional bank failures. This is the second time in the agency's history that the balance has fallen into negative territory.
The FDIC has already called on the industry to prepay $45 billion in assessments at the end of the year that will be set aside to cover the cost of bank failures in 2010.
Fifty U.S. banks failed in the third quarter, the largest quarterly total since 55 banks went bust during the second quarter of 1990. The FDIC's list of "problem" banks swelled to 552 at the end of September, its highest level in 16 years and up from 416 in June.
Despite the turmoil in the industry, banks posted a modest $2.8 billion profit in the third quarter of 2009, as their securities portfolios recovered and banks with less than $10 billion in assets saw margins improve. Bank profits were more than triple the $879 million they earned in the third quarter of 2008 and improved from a $4.3 billion loss in the second quarter of 2009.
Still, loan balances plummeted by $210.4 billion, or 2.8%, the largest percentage drop on record as banks yanked back credit and saw reduced loan demand. Balances declined across all major loan categories, with commercial and industrial loans falling by $89.1 billion, or 6.5%.
"There is no question that credit availability is an important issue for the economic recovery," FDIC Chairman Sheila Bair said during a press conference to announce the quarterly results. "We need to see banks making more loans to their business customers."
By clamping down on credit and shifting to less risky assets, banks continued to repair their capital cushions during the third quarter. Of the more than 8,000 banks and thrifts analyzed in the FDIC's report, 96% were well-capitalized. Meanwhile, average industry regulatory capital ratios hit their highest levels in 19 years at the end of September.
FDIC Chief Economist Richard Brown argued that fatter capital cushions would position banks to boost lending in 2010, helping the economic recovery. "As those balance sheets get cleaned up in 2010, it should pave the way for a more durable expansion," he said.
Bair cautioned that the industry wasn't likely to be profitable again in the fourth quarter, partly due to a likely spike in loan charge-offs which typically occurs at year-end. "I wouldn't read too much into this quarter," she said.
Troubled loans continued to pummel U.S. banks in the third quarter. Loan loss reserves topped $60 billion for the fourth quarter in a row, dampening profits. Meanwhile, banks charged off a net $50.8 billion during the third quarter, an 80.5% jump from the third quarter of 2008. The industry's annualized net charge-off rate rose to 2.71%, the highest since records began in 1984.
Though noncurrent loans continued to climb during the quarter, the rate of growth of such loans slowed for the second quarter in a row. Noncurrent loans increased by 10.5% to $366.6 billion during the third quarter.
Smaller banks, particularly those with large exposures to the faltering commercial real estate sector, accounted for many of the institutions on the FDIC's problem list, FDIC Associate Director for Large Bank Supervision John Corston said. The FDIC does not disclose the names of banks that make the list.
FDIC Deputy Director of Financial Risk Management Diane Ellis declined to estimate the likely toll on the FDIC's deposit insurance fund in the fourth quarter. The $45 billion in prepaid industry assessments won't affect the fund's balance, she said.
-By Jessica Holzer, Dow Jones Newswires; 202-862-9228; jessica.holzer@dowjones.com
Failed Bank List
This list includes banks which have failed since October 1, 2000.
Bank Name City State CERT # Closing Date Updated Date
Bank Name City State CERT # Closing Date Updated Date
United Commercial Bank San Francisco CA 32469 November 6, 2009 November 6, 2009
Gateway Bank of St. Louis St. Louis MO 19450 November 6, 2009 November 6, 2009
Prosperan Bank Oakdale MN 35074 November 6, 2009 November 6, 2009
Home Federal Savings Bank Detroit MI 30329 November 6, 2009 November 6, 2009
United Security Bank Sparta GA 22286 November 6, 2009 November 6, 2009
North Houston Bank Houston TX 18776 October 30, 2009 November 3, 2009
Madisonville State Bank Madisonville TX 33782 October 30, 2009 November 3, 2009
Citizens National Bank Teague TX 25222 October 30, 2009 November 3, 2009
Park National Bank Chicago IL 11677 October 30, 2009 November 3, 2009
Pacific National Bank San Francisco CA 30006 October 30, 2009 November 3, 2009
California National Bank Los Angeles CA 34659 October 30, 2009 November 3, 2009
San Diego National Bank San Diego CA 23594 October 30, 2009 November 3, 2009
Community Bank of Lemont Lemont IL 35291 October 30, 2009 November 3, 2009
Bank USA, N.A. Phoenix AZ 32218 October 30, 2009 November 3, 2009
First DuPage Bank Westmont IL 35038 October 23, 2009 November 3, 2009
Riverview Community Bank Otsego MN 57525 October 23, 2009 November 3, 2009
Bank of Elmwood Racine WI 18321 October 23, 2009 November 3, 2009
Flagship National Bank Bradenton FL 35044 October 23, 2009 October 29, 2009
Hillcrest Bank Florida Naples FL 58336 October 23, 2009 October 28, 2009
American United Bank Lawrenceville GA 57794 October 23, 2009 October 28, 2009
Partners Bank Naples FL 57959 October 23, 2009 October 28, 2009
San Joaquin Bank Bakersfield CA 23266 October 16, 2009 October 21, 2009
Southern Colorado National Bank Pueblo CO 57263 October 2, 2009 October 20, 2009
Jennings State Bank Spring Grove MN 11416 October 2, 2009 October 20, 2009
Warren Bank Warren MI 34824 October 2, 2009 October 20, 2009
Georgian Bank Atlanta GA 57151 September 25, 2009 October 13, 2009
Irwin Union Bank, F.S.B. Louisville KY 57068 September 18, 2009 September 22, 2009
Irwin Union Bank and Trust Company Columbus IN 10100 September 18, 2009 September 22, 2009
Venture Bank Lacey WA 22868 September 11, 2009 September 15, 2009
Brickwell Community Bank Woodbury MN 57736 September 11, 2009 September 15, 2009
Corus Bank, N.A. Chicago IL 13693 September 11, 2009 September 15, 2009
First State Bank Flagstaff AZ 34875 September 4, 2009 September 14, 2009
Platinum Community Bank Rolling Meadows IL 35030 September 4, 2009 September 14, 2009
Vantus Bank Sioux City IA 27732 September 4, 2009 September 14, 2009
InBank Oak Forest IL 20203 September 4, 2009 September 14, 2009
First Bank of Kansas City Kansas City MO 25231 September 4, 2009 September 14, 2009
Affinity Bank Ventura CA 27197 August 28, 2009 September 11, 2009
Mainstreet Bank Forest Lake MN 1909 August 28, 2009 September 11, 2009
Bradford Bank Baltimore MD 28312 August 28, 2009 September 11, 2009
Guaranty Bank Austin TX 32618 August 21, 2009 September 4, 2009
CapitalSouth Bank Birmingham AL 22130 August 21, 2009 September 11, 2009
First Coweta Bank Newnan GA 57702 August 21, 2009 September 11, 2009
ebank Atlanta GA 34682 August 21, 2009 August 25, 2009
Community Bank of Nevada Las Vegas NV 34043 August 14, 2009 September 18, 2009
Community Bank of Arizona Phoenix AZ 57645 August 14, 2009 August 19, 2009
Union Bank, National Association Gilbert AZ 34485 August 14, 2009 August 19, 2009
Colonial Bank Montgomery AL 9609 August 14, 2009 September 25, 2009
Dwelling House Savings and Loan Association Pittsburgh PA 31559 August 14, 2009 August 19, 2009
Community First Bank Prineville OR 23268 August 7, 2009 August 11, 2009
Community National Bank of Sarasota County Venice FL 27183 August 7, 2009 August 11, 2009
First State Bank Sarasota FL 27364 August 7, 2009 August 11, 2009
Mutual Bank Harvey IL 18659 July 31, 2009 August 10, 2009
First BankAmericano Elizabeth NJ 34270 July 31, 2009 August 10, 2009
Peoples Community Bank West Chester OH 32288 July 31, 2009 August 10, 2009
Integrity Bank Jupiter FL 57604 July 31, 2009 September 9, 2009
First State Bank of Altus Altus OK 9873 July 31, 2009 August 10, 2009
Security Bank of Jones County Gray GA 8486 July 24, 2009 July 30, 2009
Security Bank of Houston County Perry GA 27048 July 24, 2009 July 30, 2009
Security Bank of Bibb County Macon GA 27367 July 24, 2009 July 30, 2009
Security Bank of North Metro Woodstock GA 57105 July 24, 2009 July 30, 2009
Security Bank of North Fulton Alpharetta GA 57430 July 24, 2009 July 30, 2009
Security Bank of Gwinnett County Suwanee GA 57346 July 24, 2009 July 30, 2009
Waterford Village Bank Williamsville NY 58065 July 24, 2009 August 11, 2009
Temecula Valley Bank Temecula CA 34341 July 17, 2009 August 11, 2009
Vineyard Bank Rancho Cucamonga CA 23556 July 17, 2009 August 11, 2009
BankFirst Sioux Falls SD 34103 July 17, 2009 July 23, 2009
First Piedmont Bank Winder GA 34594 July 17, 2009 August 11, 2009
Bank of Wyoming Thermopolis WY 22754 July 10, 2009 July 15, 2009
Founders Bank Worth IL 18390 July 2, 2009 August 11, 2009
Millennium State Bank of Texas Dallas TX 57667 July 2, 2009 August 11, 2009
First National Bank of Danville Danville IL 3644 July 2, 2009 August 11, 2009
Elizabeth State Bank Elizabeth IL 9262 July 2, 2009 August 11, 2009
Rock River Bank Oregon IL 15302 July 2, 2009 August 11, 2009
First State Bank of Winchester Winchester IL 11710 July 2, 2009 August 11, 2009
John Warner Bank Clinton IL 12093 July 2, 2009 August 11, 2009
Mirae Bank Los Angeles CA 57332 June 26, 2009 August 11, 2009
MetroPacific Bank Irvine CA 57893 June 26, 2009 August 6, 2009
Horizon Bank Pine City MN 9744 June 26, 2009 August 11, 2009
Neighborhood Community Bank Newnan GA 35285 June 26, 2009 August 6, 2009
Community Bank of West Georgia Villa Rica GA 57436 June 26, 2009 August 6, 2009
First National Bank of Anthony Anthony KS 4614 June 19, 2009 August 6, 2009
Cooperative Bank Wilmington NC 27837 June 19, 2009 August 6, 2009
Southern Community Bank Fayetteville GA 35251 June 19, 2009 August 6, 2009
Bank of Lincolnwood Lincolnwood IL 17309 June 5, 2009 August 6, 2009
Citizens National Bank Macomb IL 5757 May 22, 2009 August 6, 2009
Strategic Capital Bank Champaign IL 35175 May 22, 2009 August 6, 2009
BankUnited, FSB Coral Gables FL 32247 May 21, 2009 August 6, 2009
Westsound Bank Bremerton WA 34843 May 8, 2009 August 6, 2009
America West Bank Layton UT 35461 May 1, 2009 October 20, 2009
Citizens Community Bank Ridgewood NJ 57563 May 1, 2009 August 6, 2009
Silverton Bank, NA Atlanta GA 26535 May 1, 2009 August 6, 2009
First Bank of Idaho Ketchum ID 34396 April 24, 2009 August 6, 2009
First Bank of Beverly Hills Calabasas CA 32069 April 24, 2009 August 6, 2009
Michigan Heritage Bank Farmington Hills MI 34369 April 24, 2009 August 6, 2009
American Southern Bank Kennesaw GA 57943 April 24, 2009 October 20, 2009
Great Basin Bank of Nevada Elko NV 33824 April 17, 2009 August 6, 2009
American Sterling Bank Sugar Creek MO 8266 April 17, 2009 August 6, 2009
New Frontier Bank Greeley CO 34881 April 10, 2009 August 6, 2009
Cape Fear Bank Wilmington NC 34639 April 10, 2009 August 6, 2009
Omni National Bank Atlanta GA 22238 March 27, 2009 October 14, 2009
TeamBank, NA Paola KS 4754 March 20, 2009 August 6, 2009
Colorado National Bank Colorado Springs CO 18896 March 20, 2009 August 6, 2009
FirstCity Bank Stockbridge GA 18243 March 20, 2009 August 11, 2009
Freedom Bank of Georgia Commerce GA 57558 March 6, 2009 August 6, 2009
Security Savings Bank Henderson NV 34820 February 27, 2009 August 25, 2009
Heritage Community Bank Glenwood IL 20078 February 27, 2009 August 6, 2009
Silver Falls Bank Silverton OR 35399 February 20, 2009 August 6, 2009
Pinnacle Bank of Oregon Beaverton OR 57342 February 13, 2009 August 6, 2009
Corn Belt Bank & Trust Co. Pittsfield IL 16500 February 13, 2009 August 18, 2009
Riverside Bank of the Gulf Coast Cape Coral FL 34563 February 13, 2009 August 6, 2009
Sherman County Bank Loup City NE 5431 February 13, 2009 August 6, 2009
County Bank Merced CA 22574 February 6, 2009 August 6, 2009
Alliance Bank Culver City CA 23124 February 6, 2009 August 6, 2009
FirstBank Financial Services McDonough GA 57017 February 6, 2009 August 6, 2009
Ocala National Bank Ocala FL 26538 January 30, 2009 August 6, 2009
Suburban FSB Crofton MD 30763 January 30, 2009 August 6, 2009
MagnetBank Salt Lake City UT 58001 January 30, 2009 August 6, 2009
1st Centennial Bank Redlands CA 33025 January 23, 2009 August 6, 2009
Bank of Clark County Vancouver WA 34959 January 16, 2009 October 6, 2009
National Bank of Commerce Berkeley IL 19733 January 16, 2009 August 18, 2009
Sanderson State Bank
En Español Sanderson TX 11568 December 12, 2008 August 6, 2009
Haven Trust Bank Duluth GA 35379 December 12, 2008 August 6, 2009
First Georgia Community Bank Jackson GA 34301 December 5, 2008 August 6, 2009
PFF Bank & Trust Pomona CA 28344 November 21, 2008 August 6, 2009
Downey Savings & Loan Newport Beach CA 30968 November 21, 2008 August 6, 2009
Community Bank Loganville GA 16490 November 21, 2008 August 6, 2009
Security Pacific Bank Los Angeles CA 23595 November 7, 2008 August 6, 2009
Franklin Bank, SSB Houston TX 26870 November 7, 2008 October 14, 2009
Freedom Bank Bradenton FL 57930 October 31, 2008 August 11, 2009
Alpha Bank & Trust Alpharetta GA 58241 October 24, 2008 August 11, 2009
Meridian Bank Eldred IL 13789 October 10, 2008 August 6, 2009
Main Street Bank Northville MI 57654 October 10, 2008 August 6, 2009
Washington Mutual Bank Henderson NV 32633 September 25, 2008 April 24, 2009
Washington Mutual Bank FSB Park City UT 32633 September 25, 2008 August 14, 2009
Ameribank Northfork WV 6782 September 19, 2008 August 6, 2009
Silver State Bank
En Español Henderson NV 34194 September 5, 2008 November 3, 2009
Integrity Bank Alpharetta GA 35469 August 29, 2008 August 6, 2009
Columbian Bank & Trust Topeka KS 22728 August 22, 2008 October 6, 2009
First Priority Bank Bradenton FL 57523 August 1, 2008 August 6, 2009
First Heritage Bank, NA Newport Beach CA 57961 July 25, 2008 August 6, 2009
First National Bank of Nevada Reno NV 27011 July 25, 2008 August 6, 2009
IndyMac Bank Pasadena CA 29730 July 11, 2008 August 6, 2009
First Integrity Bank, NA Staples MN 12736 May 30, 2008 August 6, 2009
ANB Financial, NA Bentonville AR 33901 May 9, 2008 November 3, 2009
Hume Bank Hume MO 1971 March 7, 2008 August 6, 2009
Douglass National Bank Kansas City MO 24660 January 25, 2008 August 16, 2009
Miami Valley Bank Lakeview OH 16848 October 4, 2007 August 6, 2009
NetBank Alpharetta GA 32575 September 28, 2007 August 6, 2009
Metropolitan Savings Bank Pittsburgh PA 35353 February 2, 2007 August 6, 2009
Bank of Ephraim Ephraim UT 1249 June 25, 2004 April 9, 2008
Reliance Bank White Plains NY 26778 March 19, 2004 April 9, 2008
Guaranty National Bank
of Tallahassee Tallahassee FL 26838 March 12, 2004 August 6, 2009
Dollar Savings Bank Newark NJ 31330 February 14, 2004 April 9, 2008
Pulaski Savings Bank Philadelphia PA 27203 November 14, 2003 July 22, 2005
First National Bank of Blanchardville Blanchardville WI 11639 May 9, 2003 August 6, 2009
Southern Pacific Bank Torrance CA 27094 February 7, 2003 October 20, 2008
Farmers Bank of Cheneyville Cheneyville LA 16445 December 17, 2002 October 20, 2004
Bank of Alamo Alamo TN 9961 November 8, 2002 March 18, 2005
AmTrade International Bank
En Español Atlanta GA 33784 September 30, 2002 September 11, 2006
Universal Federal Savings Bank Chicago IL 29355 June 27, 2002 April 9, 2008
Connecticut Bank of Commerce Stamford CT 19183 June 26, 2002 October 6, 2009
New Century Bank Shelby Township MI 34979 March 28, 2002 March 18, 2005
Net 1st National Bank Boca Raton FL 26652 March 1, 2002 April 9, 2008
NextBank, NA Phoenix AZ 22314 February 7, 2002 August 6, 2009
Oakwood Deposit Bank Co. Oakwood OH 8966 February 1, 2002 August 6, 2009
Bank of Sierra Blanca Sierra Blanca TX 22002 January 18, 2002 November 6, 2003
Hamilton Bank, NA
En Español Miami FL 24382 January 11, 2002 August 6, 2009
Sinclair National Bank Gravette AR 34248 September 7, 2001 February 10, 2004
Superior Bank, FSB Hinsdale IL 32646 July 27, 2001 August 6, 2009
Malta National Bank Malta OH 6629 May 3, 2001 November 18, 2002
First Alliance Bank & Trust Co. Manchester NH 34264 February 2, 2001 February 18, 2003
National State Bank of Metropolis Metropolis IL 3815 December 14, 2000 March 17, 2005
Bank of Honolulu Honolulu HI 21029 October 13, 2000 March 17, 2005
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