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Latest Bank failure Stories

2011-01-11 08:39:00

CHICAGO, Jan. 11, 2011 /PRNewswire/ -- Zacks Equity Research highlights: Natural Resource Partners (NYSE: NRP) as the Bull of the Day and Hercules Technology (Nasdaq: HTGC) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on JPMorgan Chase & Co. (NYSE: JPM), U.S. Bancorp (NYSE: USB) and BB&T Corporation (NYSE: BBT). (Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO) Full analysis of all these stocks is available at...

2009-09-30 23:01:00

The end of the third quarter Wednesday found U.S. markets at heights few expected six months ago when stock values were hitting recessionary lows. The Dow Jones industrial average, while slipping and sliding during the last two weeks on its way toward 10,000 points, closed down Wednesday, but closed out July through September with its best quarter since 1998 and its best third quarter since 1939, The Wall Street Journal reported. In the past three months, the DJIA has jumped 15 percent,...

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2009-09-22 07:43:57

Senior regulators say the Federal Deposit Insurance Corp. is contemplating borrowing money from healthy U.S. banks to keep its deposit insurance fund solvent. The about-face -- having banks bailout the government for a change -- is a nice irony, Karen Shaw Petrou, managing partner of Federal Financial Analytics told The New York Times. But, bankers said it was the best of several options, including having the FDIC tap a $100 billion line of credit at the U.S. Treasury. With their...

2009-08-31 00:16:51

The number of U.S. banks shut to date in 2009 is triple the number that failed in 2008, government regulators said. Most of the banks that failed this year are small, regional banks that fell victim to losses on real estate and consumer loans when unemployment surged to a 25-year high. However, many large institutions closed in 2009, a Federal Deposit Insurance Corporation spokesman said. The cost to FDIC of closures on Friday alone was about $446 million, CNN reported. The FDIC said more...

2009-08-21 07:38:24

While the U.S. economic recovery appears firmer day by day, there is that nagging feeling something may have been left behind -- toxic assets, perhaps. Indeed, the buildup of failed banks this year shows something is still amiss in the financial sector, as toxic assets continue to haunt the industry. Mid-sized or regional banks are especially vulnerable, but occasionally a failure will earn national attention, like the failure of Colonial Bank a week ago -- the sixth largest U.S. bank failure...

2009-08-15 12:25:04

The Federal Deposit Insurance Corp. says it has sold failed southern U.S. bank Colonial BancGroup Inc. to BB&T Corp. The Wall Street Journal's MarketWatch reported the FDIC seized the Alabama lending company Friday, marking the largest bank failure to take place in 2009. In addition to the failure of BancGroup, FDIC officials said four other banking victims of the recession -- Pittsburgh's Dwelling House Savings and Loan, Community Bank of Arizona, Las Vegas's Community Bank and the Union...

2009-05-23 07:42:46

The U.S. Federal Deposit Insurance Corp. says it will charge banks more to insure investors' deposits as bank failures drain FDIC insurance funds. The agency's five-member board voted Friday to collect larger assessments from banks at a time when many such institutions are scrambling for funds just to stay in business and were warning that higher FDIC taxes will mean less money available to lend to customers, The Washington Post reported. Especially targeted by the FDIC board were the largest...

2009-02-26 21:46:11

The federal insurance fund that guarantees the security of U.S. bank deposits is being drained by the rise in financial institution failures, officials said. The Federal Deposit Insurance Corp. fund has dropped to its lowest level since 1993, The Washington Post reported Thursday. Depositors are not at risk because the fund is backed by the government, but taxpayers could be forced to buttress the fund if its reserves slip further, the newspaper said. There was $52.4 billion in the fund at...

2009-02-07 07:25:29

U.S. financial regulators say they have shut down two small banks in California and one in Georgia, making nine U.S. bank failures so far in 2009. In a statement released Friday, the Federal Deposit Insurance Corp. said it sold the deposits of FirstBank Financial Services of McDonough, Ga., to Regions Financial Corp., of Birmingham, Ala., a larger regional bank that has been looking to pick up market share in the Atlanta area, The Wall Street Journal reported. Regions also recently picked up...

2008-11-23 14:17:01

Conspiracy theories have abounded since Washington Mutual became the largest U.S. bank failure, observers say. Although most experts say the bank failed in part because of bad mortgage loans the company made, entire Web sites have sprung up to consider more sinister reasons for WaMu's collapse, The Seattle Times reported Sunday. Among theories is that WaMu was the financial industry's sacrificial lamb, used to pressure Congress to approve a mammoth bailout of the U.S. financial industry....


Word of the Day
glogg
  • Scandinavian punch made of claret and aquavit with spices and raisins and orange peel and sugar.
This word comes from the Swedish 'glogg,' which is an alteration of 'glodgat,' mulled (wine).
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