Is Your Bank On the FDIC Failed Bank List -- Financial Institutitions And Banks

Is Your Bank On the FDIC Failed Bank List — Financial Institutitions And Banks

Written by ysdata on November 25, 2008 – 7:48 pm

Bank Risk is real Financial Institutitions The FDIC has a website dedicated to Failed Banks — Failed Bank List. On the site the FDIC provides useful information for the customers and vendors of the banks on their failed banks list. This list contains banks which have closed/failed since 2000. This year they are 22 banks added to the list. Special note — many banks have failing into trouble this year, however they were either brought by another bank or bailout and do not appear on the list. Banks that appear on the failed bank list are banks that are closed for good.

This Year’s Bank Failures:

Douglass Nation Bank of Kansas City, Missouri — January 25, 2008
Hume Bank Hume Missouri — March 7, 2008
ANB Financial Bentonville Arkansas — May 9, 2008
First Integrity Bank of staples, Minnesota — May 30, 2008
IndyMac Bank of Pasadena, California — July 11, 2008
First National Bank of Nevada, Reno — July 25, 2008
First Heritage Bank of Newport Beach, California — July 25, 2008
First Priority Bank of Bradenton, Florida — August 1, 2008
The Columbian Bank and Trust of Topeka, Kansas — August 22, 2008
Integrity Bank of Alpharetta, Georgia — August 29, 2008
Silver State Bank of Henderson, Nevada — September 5, 2008
Ameribank of Northfork, West Virgina — September 19, 2008
Washington Mutual Bank of Henderson, Nevada — September 25, 2008
Main Street Bank of Northville, Michigan — October 10, 2008
Meridan Bank of Eldred, Illinois — October 10, 2008
Alpha Bank & Trust of Alpharetta, Georgia — October 24, 2008
Freedom Bank of Bradenton, Florida — October 31, 2008
Franklin Bank of Houston, Texas — November 7, 2008
Security Pacific Bank of Los Angeles, California — November 7, 2008
The Community Bank of Loganville, Georgia — November 21, 2008
Downey Savings and Loan of Newport Beach, California — November 21, 2008
PFF Bank and Trust of Pomona, California — November 21, 2008

Reasons Why Banks Are Failing — Bank Risk

Declining in non-interest income
A rise in non-interest expense, which a decrease in gains on securities sales
Increasing loss provisions
Increasing expenses for credit losses

The trouble list is different from the bank failed list. However, being listed on the trouble list is just a step above. Since 2003, this year has been the largest number of banks listed on the trouble list. Banks on the trouble list has hit 117 with assets totaling $78 billion.

Good News About The Banking Industry
Most banks can account for 99% of their assets, however that’s the end of the good news. High yield earnings are not expected to return anytime soon. And lastly, the FDIC now ensures up to $250,000 per/individual.

Recent Updates to the FDCI Trouble List

FDIC insurance is down to $45.2B from $52.8B

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