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To: Red Badger
“In the end, it maintained $58.9 million in deposits and $38.2 million in loans, with real estate loans accounting for nearly 42%. The IDOB was forced to close it on Nov. 3 and appointed the FDIC as the receiver. Iowa Trust and Savings Bank assumed all its deposits and purchased close to all its assets.”

“Citizens Bank joined Silicon Valley Bank, Signature Bank, First Republic Bank, and Heartland Tri-State Bank on the list of failures.”

In another life, I analyzed banks and occasionally talked to finance officers. They had little sympathy for failed institutions, because these people had failed to listened to the warnings of their finance officers who watched balance sheets and looked at interest rate exposures.

6 posted on 11/22/2023 11:53:33 AM PST by Retain Mike ( Sat Cong)
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To: Retain Mike

Of course they call it a bank failure but it’s really another taxpayer bailout. We need real capitalism with real failures


16 posted on 11/22/2023 3:21:37 PM PST by griswold3 (I cannot change the Tide but I can learn to Sail)
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