U.S. Banks Failing At Fastest Pace In 2 Decades

Source: HuffPo

Regulators shut down four more banks Friday, bringing the 2010 total to 143, topping the 140 shuttered last year and the most in a year since the savings-and-loan crisis two decades ago.

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Like these four financial institutions, the banks that have failed this year are smaller, on average, than those that succumbed in 2009. That has meant the deposit insurance fund has suffered a milder loss, which has reached about $21 billion so far this year, compared with $36 billion in 2009.

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The pace of failures has accelerated as banks' losses on loans for commercial property and development have mounted. Many companies have shut down in the recession, vacating shopping malls and office buildings financed by the loans. That has brought delinquent loan payments and defaults by commercial developers.

The 2009 total of bank failures had been the highest annual toll since 1992, at the height of the savings and loan crisis. More than 1,000 banks went under in the savings-and-loan crisis of 1987-1992.

Twenty-five banks failed in 2008, the year the financial crisis struck with force; only three succumbed in 2007.

Read more: http://www.huffingtonpost.com/2010/11/06/us-banks-failing-at-faste_n_779941.html

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Hush, don't tell anyone!

http://fdic.gov/bank/individual/failed/banklist.html

:hi: Good to see you friend!!!
:hug:

on edit: Nice list - love that it is sortable by so many different fields. So, what happened to all the banks that have "No Acquirer" listed?

'tis a great list - and those that do not become acquired are taken over by the FDIC and liquidated - or that was how they did it in the 80s and 90s

good to see you out and about - I don't come here much anymore - too many changes and faces that I don't know and don't know me. Got tired of the assassins and just decided to only selectively post with backup info or links.

take care!

uia

"old" DU bunch...guess this is progress though.

with a number of white papers written on the issue. The argument of whether this will lead to more and more dangerous situations as banks increase in size while also reducing competition was the rebuttal. Apparently they have gone with what many of the elite consider the more "efficient" model. At any rate, in order to bring this consolidation about, the economy had to take a nose dive to slough off the excess baggage.

oh wait - they already 'fixed' it in the first place