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Christopher Menkin
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Christopher "Kit" Menkin is of editor LeasingNews.org (http://www.leasingnews.org/), an internet trade publication for the finance/leasing industry. He has 41 years experience in the finance/leasing industry as well as being a founder of a commercial regional bank and serving on... More
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  • 49 Banks Failed To Date 0 comments
    Nov 14, 2012 12:10 PM

    By Robert Clark and Aarti Kanjani
    SNL Financial

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    Regulators did not close any banks Friday, Nov. 9, leaving the year's total at 49. Last year, regulators had closed 88 banks through Nov. 11.

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    As of Nov. 9, the FDIC entered loss-share agreements with the buyers of 19 of the 49 banks closed in 2012. In 2011, the FDIC entered loss-share agreements with the buyers of 58 of the 92 closed banks. In 2010, the FDIC entered loss-share agreements with the buyers of 130 of the 157 failed banks.

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    The median cost to the deposit insurance fund at the time of announcement as a percentage of the failed banks' assets was 21% in 2012, with 49 failures. The median cost in 2011 and 2010 was 23%, and it was 29% in 2009.

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    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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