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Home | Tag Archives: FDIC

Tag Archives: FDIC

Bank Collapses Continue to Grow; Failures Total 11

The list of 2014 bank collapses grew into the double digits over the weekend as River Valley Bancorp was forced to close two of its subsidiary operations. In separate releases issued Friday, FDIC announced the shuttering of Valley Bank branches in Moline, Illinois, and Fort Lauderdale, Florida, bringing the 2014 bank failure tally to 11 so far.

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FDIC Closes Maryland Bank; 9th Bank of 2014

The FDIC announced the closure of another bank, noting that Slavie Federal Savings Bank of Bel Air, Maryland has been closed. The FDIC entered into a purchase and assumption agreement with Bay Bank, FSB of Lutherville, Maryland to assume all the deposits of the recently shuttered Slavie Federal Savings Bank.

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Ohio Bank Fails; Eighth This Year

Columbia Savings Bank of Cincinnati, Ohio was closed by the Ohio Division of Financial Institutions, which appointed the FDIC as receiver. The FDIC entered into a purchase and assumption agreement with United Fidelity Bank of Evansville, Indiana to assume the failed bank's deposits.

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FDIC Urges Institutions to Mitigate Cyber-Related Risk

A release issued Thursday by the Federal Deposit Insurance (FDIC) urged financial institutions to "actively utilize available resources to identify and help mitigate potential cyber-related risks." The timing of the release is particularly germane, considering the recently discovered Heartbleed bug which affects almost two-thirds of the web, as well as recent cyber-attacks on industry giant Ellie Mae.

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FDIC: Community Banks Remain Resilient Amid Industry Consolidation

A new study conducted by the Federal Deposit Insurance Corporation (FDIC) suggests that small bank's fears over increased regulations and consolidation are largely unfounded. The study, "The Continued Resiliency and Importance of Community Banks Amid Long-Term Industry Consolidation," comments that bank consolidation is largely restricted to very small and very large banks.

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Reports Project Positive Climate for Economic Growth

Two reports issued by the Wells Fargo Economics Group both point towards a positive climate for economic growth, albeit for different reasons. The first report followed FDIC loan performance, noting cyclical improvement in loan performance and a trend favorable for credit quality. The second report commented on underwriting practices.

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