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#1222597 - 07/24/09 10:36 PM Six GA Banks Closed today
Mary Beth Guard Offline
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Mary Beth Guard
Joined: Oct 2000
Posts: 797
Oklahoma City, OK
FDIC closed six banks in Georgia today and one in New York. Unbelievable!

http://www.fdic.gov/

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General Discussion
#1222643 - 07/25/09 12:25 PM Re: Six GA Banks Closed today Mary Beth Guard
Reed Offline
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Reed
Joined: Sep 2005
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West Coast
In case anyone is counting, thats

64 in 2009 (as of 7/25)
26 in 2008
3 in 2007
0 in 2006
0 in 2005
4 in 2004
3 in 2003
11 in 2002
4 in 2001
2 in 2000

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#1223268 - 07/28/09 02:45 PM Re: Six GA Banks Closed today Mary Beth Guard
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Alabama's probably on the list next.

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#1223279 - 07/28/09 02:53 PM Re: Six GA Banks Closed today BankerMama
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Acceptance, USA America
I read Illinois had the next highest.
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#1223283 - 07/28/09 02:56 PM Re: Six GA Banks Closed today Dazed Auditor
HappyGilmore Offline
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Pulling people out of the ditc...
Alabama banks are fairly strong, Illinois and Florida are the next biggest issues
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#1223328 - 07/28/09 03:19 PM Re: Six GA Banks Closed today HappyGilmore
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Ive heard that some banks in Alabama are very weak, but the Alabama Department of Banking keeps looking for buyers rather than closing them. They want to prove that Alabama has no problem banks.
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#1223572 - 07/28/09 07:04 PM Re: Six GA Banks Closed today Rocky P
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Is the Alabama Department of Banking doing a better job of finding buyers than DOB is other states? I think regulators and banks always look for buyers to avoid closure.
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#1223602 - 07/28/09 07:40 PM Re: Six GA Banks Closed today Dazed Auditor
Georgia Plum
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I believe Georgia is having so many because they approved too many new bank applications over the last few years. For a while there was a new bank on each corner, each week. It was a get rich quick scheme with investors. With that many denovos and the economy going sour, I'm surprised there haven't been more. JMHO

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#1224017 - 07/29/09 03:33 PM Re: Six GA Banks Closed today Dazed Auditor
QCL Offline
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NW IL
Originally Posted By: Dazed Auditor
I read Illinois had the next highest.


Only because 6 were part of the same group but are counted seperate...jeeze wink

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#1229383 - 08/07/09 04:53 PM Re: Six GA Banks Closed today QCL
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From what's published in the paper and business journal looks like Colonial is going to "fall" within the week. Thank goodness I'm not at Colonial but I don't think we are far behind.

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#1229417 - 08/07/09 05:22 PM Re: Six GA Banks Closed today BankerMama
Kathleen O. Blanchard Offline

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It sure does look like Colonial could go next week, it if makes it that long.
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#1229703 - 08/07/09 07:52 PM Re: Six GA Banks Closed today Kathleen O. Blanchard
BankerMama Offline
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Yep. But you know...I thought this was such a secret process so how can the news people publish this? Is it because there's a criminal investigation in Colonial's case?

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#1230044 - 08/10/09 12:43 PM Re: Six GA Banks Closed today BankerMama
HappyGilmore Offline
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Pulling people out of the ditc...
Colonial has been issuing press releases about their inability to garner new capital partners or investors, basically giving their customers "knowledge" that the end is near and to get within deposit guidelines to make sure you suffer no loss.
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