Posted on 10/23/2009 5:41:49 PM PDT by FromLori
Banks in Florida, Georgia, Illinois, Minnesota and Wisconsin, were shuttered, costing the FDIC an estimated $356.6 million.
The tally of bank failures easily broke past the No. 100 milestone on Friday night, with regulators announcing the year's 106th closure.
That's more than four times the number that were closed in 2008, and the highest total since 1992, when 181 banks failed.
Earlier on Friday evening the dubious honor of the 100th failure went to Partners Bank, of Naples, Fla., which had $65.5 million in assets, according to the Federal Deposit Insurance Corp.
The 101st failure was American United Bank, of Lawrenceville, Ga., which had $111 million in assets.
The 102nd failure was another Naples, Fla., institution: Hillcrest Bank Florida, which had $83 million in assets.
The 103rd closure was Bradenton, Fla.-based Flagship National Bank, with $190 million in assets.
The 104th was Bank of Elmwood, based in Racine, Wis., which had $327.4 million in assets.
The 105th failure was Riverview Community Bank of Otsego, Minn., with $108 million in assets.
The 106th failure was First Dupage Bank in Westmont, Ill., which had $279 million in assets.
(Excerpt) Read more at money.cnn.com ...
Just found this. Not sure how reliable it is, but it’s interesting.
http://bubblemeter.blogspot.com/2008/07/graph-bank-failures-per-year.html
But....But... Robert Gibbs said we are in a recovery.
Dark days are gone.
Partyin’ like it’s 1929.
Smallish regional banks going bust, while the “too-big-to-fail” banksters who own Congress continue to suck our wallets dry via their .GOV conduit in order to prop-up their own underwater balance sheets.
So this is what a modern Marxist oligarchy looks like, eh?
Here’s another. Even though it doesn’t extend into 2009, the numbers of banks going under in the 80s is an interesting figure.
Over 500 then, around 105-110 this year...
I believer there are some interesting comments about the differences in the banking industry that could be made though.
http://www.calculatedriskblog.com/2009/05/fdic-bank-failures-by-numbers.html
They’re just merging them into bigger banks that can handle their problems.
They would have done that with the big banks too, only nobody is big enough to take them, so they had to think of another plan.
They are setting the big guys up to fail now by capping pay.
When they falter again, the gubermint will swoop in like superman “with more regulation and caring!”
I dread the thought of what the dark days may be replaced by with this administration weaving it's web of destruction.
Nope, Fascist oligarchy.
They are corralling us.
Where do I punch the “I want off” button?
What amazes me is no one seems to notice that the Bad loans that the Gubmint forced the banks to take are still being pushed via law.
They are tightening the noose on the banks and industry.
So far the option is in a curtain toting room about 3' by 3' the first Tuesday in November every couple of years.
Doesn't sound like much does it....
Sorry, wrong thread.
I’ll be there.
Isn’t the bank numbers themselves meaningless?
Shouldn’t we be tallying the institution asset amounts from each year and adjusting for inflation?
The good ol' days any more.
At this point, the bank failures are manageable. It’s only the very small banks that are failing.
Lewis, who announced last month that he will retire at the year's end, will still have $53 million in pension benefits waiting for him. The outgoing chief will also have other stock awards and deferred compensation for a total $69 million payout, said Stickler.
I think that’s a reasoned observation. I wouldn’t argue with it.
There are other factors that play in, and this year the failure of Fannie May and Freddie Mac certainly tipped the balance considerably.
Then there was the floating paper that was mostly a vapor trail on Wall Street.
Lest anyone forget, that vapor trail started at the doorsteps of Congress and the White House, demanding that loans be extended to people who didn’t have a chance in hell of servicing their debt.
The foundation for this mess was set up in the 70s and 80s. Then every attempt to fix it, met with resistance.
Both sides screwed up, but the Dems did it on purpose.
Destroying this nation to create another U.S.S.R. from the ashes has been a gloal of the Left ever since they came to the conclusion that Communism has never been given a fair chance.
If it hasn’t been given one, I’m still not willing to give it one here. Not no, but hell no!
That would be good, and for a sense of proportion as a percentage total solvent plus failed. In the mean time we can look at how the current doom'n'gloom numbers compare to when everything was so much better:
--or maybe we could 'party like it was 1929':
I think maybe some people here need to take a deep breath and count to ten.
Thanks Expat-Panama. I agree.
I should add that I do see problems though. In the past we had people in government positions who actually wanted our government to succeed. Today we have people dedicated to it’s failure in it’s current capitalist form.
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