+Vote!
Stockerblog - The Stock Market Blog (Free subscription) | yesterday
There are now well over 100 banks that have failed so far this year. We've only had five business days so far this year and already five banks have been shut down. A bank a day! Yesterday, United Commercial Bank, San Francisco, California, was closed by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors,...
5Vote!
The Atlanta Business Chronicle (Free subscription) | yesterday
Federal regulators closed San Francisco’s troubled United Commercial Bank — one of the nation’s largest banks serving the Chinese-American community — and sold the bank and its $6.5 billion in deposits to East West Bancorp. (EWBC)
10Vote!
Calculated Risk (Free subscription) | yesterday
From the LA Times: United Commercial Bank is shut down, sold to East West Bancorp Toppled by loan losses and misstated financial reports, San Francisco's United Commercial Bank was shut down by regulators Friday night ... United Commercial's collapse may cause a greater-than-usual stir because a year ago the federal government invested $299 million in bailout funds in the bank in exchange for preferred...
10Vote!
Eschaton (Free subscription) | yesterday
Just getting around to skimming the FDIC press releases. As of October 23, 2009, United Commercial Bank had total assets of $11.2 billion and total deposits of approximately $7.5 billion. East West Bank paid the FDIC a premium of 1.1 percent for the right to assume all of the deposits of United Commercial Bank. In addition to assuming all of the deposits of the failed bank, East West Bank agreed to...
6Vote!
The Economic Populist (Free subscription) | yesterday
5 more bank failures including United Commercial, a San Francisco bank which will cost the FDIC $1.4 billion. United Commercial Bank had total assets of $11.2 billion and total deposits of approximately $7.5 billion. The FDIC and East West Bank entered into a loss-share transaction on approximately $7.7 billion of United Commercial Bank’s assets. The failure is expected to cost the FDIC deposit...
7Vote!
Wall Street Pit (Free subscription) | 11/07/2009
The Federal Deposit Insurance Corporation [FDIC] announced five new bank failures on Friday, bringing the nation’s tally to 120 for the year. Assets of more than $11.5 billion and deposits of nearly $8 billion from the five banks were turned over to new lenders at a total cost of $1.5 plus billion...
5Vote!
The San Francisco Business Times (Free subscription) | 11/07/2009
Federal regulators closed San Francisco’s troubled United Commercial Bank — one of the nation’s largest banks serving the Chinese-American community — and sold the bank and its $6.5 billion in deposits to East West Bancorp. (EWBC)
7Vote!
Credit Writedowns (Free subscription) | 11/07/2009
Of the five, United Commercial is pretty darn big ($11.2 billion in assets) United Commercial Bank San Francisco, CA As of October 23, 2009, United Commercial Bank had total assets of $11.2 billion and total deposits of approximately $7.5 billion. East West Bank paid the FDIC a premium of 1.1 percent for the right [...]
4Vote!
Business Wire (Free subscription) | 11/07/2009
PASADENA, Calif.--(BUSINESS WIRE)--East West Bancorp, Inc. (Nasdaq: EWBC), parent company of East West Bank, announced today that it has acquired the banking operations of San Francisco, California based United Commercial Bank (UCB) in a Federal Deposit Insurance Corporation (FDIC) assisted transaction. Under the terms of the transaction, East West will receive $10.4 billion in assets, including $7.7...
10Vote!
Calculated Risk (Free subscription) | 11/07/2009
From the FDIC: East West Bank, Pasadena, California Assumes All the Deposits of United Commercial Bank, San Francisco, California United Commercial Bank, San Francisco, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ... As of October 23, 2009, United Commercial Bank had total assets of...
4Vote!
Science Daily (Free subscription) | 11/07/2009
Cyber criminals are using fake messages claiming to be from the Federal Deposit Insurance Corporation to deliver a virus capable of stealing unsuspecting victims' bank passwords and other sensitive personal information, says a computer forensics specialist.
10Vote!
Calculated Risk (Free subscription) | 11/07/2009
Whats a "Prosperan"? A breakfast food, car or band? Answer: money pit Looming Gateway Arch Symbol of pioneer spirit Their bank now a ghost. by Soylent Green is People From the FDIC : Alerus Financial, National Association, Grand Forks, North Dakota, Assumes All of the Deposits of Prosperan Bank, Oakdale, Minnesota Prosperan Bank, Oakdale, Minnesota, was closed today by the Minnesota Department...
3Vote!
Black Listed News (Free subscription) | 11/07/2009
Banks in California, Georgia, Michigan, Minnesota and Missouri were shuttered, costing the FDIC a total of $1.5 billion.
5Vote!
San Fransisco Chronicle (Free subscription) | 11/07/2009
Regulators have shut small banks in Georgia and Michigan, bringing the number of bank failures this year to 117 amid the struggling economy and a cascade of defaults on loans. The Federal Deposit Insurance Corp. on Friday took over United Security Bank, based... Georgia - Federal Deposit Insurance Corporation - Bank failure - Michigan - Business
10Vote!
Calculated Risk (Free subscription) | 11/07/2009
Motor City crash. Home Federal has spun out. Bagholders totaled by Soylent Green is People From the FDIC: Liberty Bank and Trust Company, New Orleans, Louisiana, Assumes All of the Deposits of Home Federal Savings Bank, Detroit, Michigan Home Federal Savings Bank, Detroit, Michigan, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC)...
The 2 latest articles published by users on Federal Deposit Insurance Corporation :
6Vote!
krishpatel1212@gmail | 10/31/2009
California National Bank Shut Down by FDIC (Federal Deposit Insurance Corporation) California National Bank had 68 branches. About 100 FDIC employees arrived at the CalNational headquarters in downtown Los Angeles at around 6:15 p.m. on Friday. They were seen fanning out into various offices around the building, a squat concrete structure that prominently displays the failed bank's name. Read More
2Vote!
paisano1 | 02/27/2009
Insured banks and thrifts set aside $69.3 billion in provisions for loan and lease losses during the fourth quarter, more than twice the $32.1 billion that they set aside in the fourth quarter of 2007. Loss provisions represented 50.2 percent of the industry’s net operating revenue (net interest income plus total noninterest income), the highest proportion since the second quarter of 1987 when provisions
Videos