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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 46 years experience in the finance/leasing industry as well as being a founder of a commercial regional bank and serving on several company... More
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  • Problem Banks Below 700--and No Bank Failures So Far This Year! 0 comments
    Jan 9, 2013 12:03 PM

    For the first time in three years, the number of problem banks has dropped below 700

    While banks are settling real estate mortgage law suits, many from mortgage companies or other banks that they purchased, deposits are high while rates are low and products like credit cards and other investment markets are making profits. But the best news is only 51 banks failed in 2012.

    Year Number of Bank Failures



     

    2008 25
    2009 140
    2010 157
    2011 92
    2012 51

    In 2012, the FDIC entered loss-share agreements with the buyers of 20 of the 51 banks closed in 2012, according to SNL Financial. 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.

    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 51 failures. The median cost in 2011 and 2010 was 23%.

    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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