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Financial regulators closed four more banks this week, two in Georgia, one in Florida, and one...

Financial regulators closed four more banks this week, two in Georgia, one in Florida, and one in Kansas to bring the tally for 2012 to 37.The total cost to the FDIC's deposit-insurance fund: $74.4M. The shuttered institutions are Georgia Trust Bank in Buford, Georgia, and First Cherokee State Bank in Woodstock, Georgia, Royal Palm Bank of Florida of Naples, Florida and Heartland Bank of Leawood, Kansas.
Comments (6)
  • Would you please publish a list of the total number of failed banks by state. Top ten states would do. Might that be correlated with poor regulation of lending practices?
    20 Jul 2012, 10:31 PM Reply Like
  • You can find the information here, though the FDIC conveniently doesn't accumulate the data in any format that is analytical. You have to read the press releases with EACH failure to capture the information on what the estimated cost to the FDIC insurance fund will be. Good luck. Lots of GA and FL banks are included however.

     

    I counted 5 FL, 8 GA, and 4 IL

     

    http://1.usa.gov/pEdeEp
    20 Jul 2012, 11:37 PM Reply Like
  • Where is the pitchfork crowd chasing down these bank managers. At minimum they were stupid and perhaps they were even making bets with derivatives. Whatever the case they wiped out all their equity and that is worse than 98% of the other banks.

     

    21 Jul 2012, 12:31 AM Reply Like
  • I posted this about a month ago, HTH:

     

    Recent years bank failure totals:

     

    2007 - 3
    2008 - 25
    2009 - 140
    2010 - 157
    2011 - 92
    2012 - 37 to date

     

    In comparison, in 1992 there were 179 bank failures from the S&L crisis. In total 747 banks failed between 1988-1995 due to the crisis.

     

    Before the Great Depression there were thousands of small banks. After the crash and during the first 10 months of 1930, 744 banks failed – 10 times as many as normal. In all, 9,000 banks failed during the decade of the 1930s. It's estimated that 4,000 banks failed during the one year of 1933 alone.
    21 Jul 2012, 07:08 AM Reply Like
  • Its all going to plan...just a few big banks that control it all..and the politicians that go with it..
    21 Jul 2012, 09:04 AM Reply Like
  • Georgia and Florida, two top states. Georgia has many
    small banks as well as was hit in real estate as was Florida...

     

    http://seekingalpha.co...

     

    Here is an article:

     

    The rise of monster banks
    http://bit.ly/Mx4GrI
    22 Jul 2012, 04:25 PM Reply Like
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