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Tag Archives: Bank Failure

Comptroller: CRE Loans Still Present Risk to Banks

In a speech before the Commercial Real Estate (CRE) Finance Council on Wednesday, Comptroller of the Currency Thomas Curry warned banks and thrifts not to keep their eggs in one basket with CRE loans. Following up on his remarks in May about operational risk in banking institutions, Curry stressed that CRE credit is still a significant core risk area for banks and thrifts. Curry pointed out that national banks and federally chartered thrifts hold over $700 billion in total CRE loans, an amount that comprises 14 percent of their aggregate loan portfolios.

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Bank Failure Tally Jumps to 28 After Busy Friday

The FDIC's Deposit Insurance Fund (DIF) took a combined hit of approximately $80.8 million Friday after the closure of four banks. First Capital Bank in Oklahoma was announced by the FDIC as the first Oklahoma bank and the 25th bank overall to close in 2012. That announcement was followed by three more announcements of the closings of Carolina Federal Savings Bank in South Carolina, Farmers and Traders State Bank in Illinois, and Waccamaw Bank in North Carolina.

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Alabama Bank Closes, Tally Now 24

The Office of the Comptroller of the Currency closed down Alabama Trust Bank, National Association, of Sycalaugua, Alabama over the weekend, marking the first Alabama bank failure and the 24th national failure this year.

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More than 200 Banks Pose High Risk of Failure: Trepp

While the pace of bank closings has slowed this year compared to the year before, in its bank failure report, Trepp noted that there are still more than 200 banks at high risk of failure as of the first quarter of 2012. More specifically, 209 banks are considered to be at high risk of failure on the Trepp Watchlist, three of which failed in April, leaving 204. The high-risk banks are more heavily concentrated in Georgia (41 banks), followed by Florida (32), Illinois (24), Minnesota (12), North Carolina (11), Tennessee (9) and Missouri (9).

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Treasury to Sell Investments in Small Banks Still in TARP Programs

While Treasury has stated it recovered $264 billion of the $245 billion invested in TARP, Treasury Assistant Secretary Timothy G. Massad said 343 banks still remain in TARP's taxpayer-funded bank programs. Most of these banks are smaller, community lenders and are having a more difficult time with raising funds from private investors in the capital markets to repay taxpayers, Massad explained in a Treasury blog Thursday.

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Regulators Shut Down Five Banks Friday, Raising 2012 Tally to 22

After what seemed to be a slow month for bank closings, with just one closing April 20, the FDIC announced five bank closings Friday, raising the national tally of failed banks to 22 so far this year. Regulators ceased operations for Bank of the Eastern Shore, HarVest Bank of Maryland, Inter Savings Bank, Plantation Federal Bank, and Palm Desert National Bank.

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Former CFO of Mortgage Company Pleads Guilty to Fraud

A former chief financial officer of Taylor, Bean & Whitaker Mortgage (TBW) pleaded guilty Tuesday to making false statements and conspiring to commit bank and wire fraud for his role in a $2.9 billion scheme that contributed to the failures of TBW and Colonial Bank. Delton de Armas of Carrollton, Texas, faces a maximum penalty of 10 years in prison when he is sentenced on June 15, 2012. He admitted in court that from 2005 through August 2009, he and others schemed to defraud financial institutions that had invested in Ocala Funding.

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