Items Tagged with 'Silver State Bank'

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  • Monday Morning Cup of Coffee

    A look at the stories on HousingWire’s weekend desk…with more coverage to come on bigger issues: Regulators shut down five banks Friday, including beleaguered Colonial Bank. So far, 77 banks have been shut down in 2009. The Federal Deposit Insurance Corporation (FDIC) estimates the latest closings will cost nearly $3.7bn.
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  • FDIC's Deposit Insurance Fund Could Go Broke

    The U.S. government has warned this week of a severely troubled deposit insurance fund that risks tanking this year amid rapidly mounting bank failures. "Without substantial amounts of additional assessment revenue in the near future, current projections indicate that the fund balance will approach zero or even become negative," wrote Federal Deposit Insurance Corp. chairman Sheila Bair, in a letter to chief executives Monday.
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  • Bank Losses Mount in Q4; FDIC Hikes Deposit Insurance Premiums

    Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported Thursday a collective loss of $26.2 billion in the fourth quarter of 2008, a decline of $27.8 billion from the $575 million that the industry earned in the fourth quarter of 2007 -- and the first quarterly loss recorded by the U.S. banking industry since 1990. Rising loan-loss provisions, losses from trading activities and goodwill write-downs all contributed to the quarterly loss, as banks continued to repair their balance sheets, the FDIC said.
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  • Silver Falls Bank Closed; 14th Bank Failure of 2009

    Silverton, Ore.-based Silver Falls Bank was shut down Friday by the Oregon Department of Consumer and Business Services, which appointed the Federal Deposit Insurance Corporation as receiver -- marking the 14th bank failure this year. The FDIC then entered into a purchase and assumption agreement with Citizens Bank, out of Corvallis, Ore., to assume all of the deposits of Silver Falls Bank.
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  • 4 Failed Banks Cost FDIC $342 Million

    On the day of the most bank closings so far in 2009, regulators closed four more banks late Friday and named the Federal Deposit Insurance Corp. as receiver. The announcement brought total closings to 13 for the year as of Feb. 13. The estimated cost of all four banks to the Deposit Insurance Fund will be some $341.6, the FDIC said. Number 10
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  • Number Twelve: West Virginia's Ameribank Shut Down by FDIC

    Lost in the shuffle of a historic proposal from the Treasury to bail out the financial markets was yet another small bank failure in West Virginia. Ameribank, Inc. was shut down Friday by the Office of Thrift Supervision and placed into Federal Deposit Insurance Corp. hands; the small bank had total assets of $115 million and total deposits of $102 million.
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  • Number 9: Columbian Bank and Trust

    The ninth bank to fail this year was announced by the Federal Deposit Insurance Corp. late Friday: The Columbian Bank and Trust Company, located in Topeka, Kansas. The FDIC said the failed bank had total assets of $752 million and total deposits of $622 million, of which there were approximately $46 million in uninsured deposits. The bank's insured deposits were purchased by Chillicothe, Missouri-based Citizens Bank and Trust, according to a statement by the FDIC; Columbian's nine branches will reopen Monday as branches of Citizen.
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  • Two More Banks Head into FDIC Hands

    On Friday evening, the Federal Deposit Insurance Corp. said that two more banks had been deemed a failure; the Office of the Comptroller of the Currency had closed both after saying that each was undercapitalized.
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