Five banks failed late Friday, bringing the 2009 tally to 120.
The tally of bank failures easily broke past the No. 100 milestone on Friday night, with regulators announcing the year's 106th closure.
The nation's tally of 2009 bank casualties hit 99 Friday night when state regulators closed San Joaquin Bank, based in Bakersfield, Calif. This was the tenth bank to fail in that state.
The government insurance fund designed to protect consumer bank deposits will likely stay in the red through 2012, Federal Deposit Insurance Corp. chief Sheila Bair said Wednesday.
Here's another sign of a sickly banking sector: a flurry of letters urging banks to raise money -- and fast.
The Federal Deposit Insurance Corporation needs to add prevention to its stock of cures.
Three regional banks were closed by regulators on Friday evening, bringing the 2009 tally to 98.
The banking bust is getting mighty costly.
Atlanta-based Georgian Bank was closed by state regulators Friday, according to the Federal Deposit Insurance Corporation, becoming the 95th to fail in the nation this year.
What's harder than running a bank these days?
Five banks failed late Friday, bringing the 2009 tally to 120.
The tally of bank failures easily broke past the No. 100 milestone on Friday night, with regulators announcing the year's 106th closure.
The nation's tally of 2009 bank casualties hit 99 Friday night when state regulators closed San Joaquin Bank, based in Bakersfield, Calif. This was the tenth bank to fail in that state.
The government insurance fund designed to protect consumer bank deposits will likely stay in the red through 2012, Federal Deposit Insurance Corp. chief Sheila Bair said Wednesday.
Here's another sign of a sickly banking sector: a flurry of letters urging banks to raise money -- and fast.
The Federal Deposit Insurance Corporation needs to add prevention to its stock of cures.
Three regional banks were closed by regulators on Friday evening, bringing the 2009 tally to 98.
The banking bust is getting mighty costly.
Atlanta-based Georgian Bank was closed by state regulators Friday, according to the Federal Deposit Insurance Corporation, becoming the 95th to fail in the nation this year.
What's harder than running a bank these days?
One of the fundamental tenets of a free market is that in an auction the rules of the game should not give one bidder a fundamental advantage over another bidder. Sadly, that may not have been the case last month when the FDIC oversaw the sale of Texas-based Guaranty Bank. On August 21, Sheila Bair, the chair of the FDIC, declared Spain's second-largest bank -- Banco Bilbao Vizcaya Argentaria SA -- the winner of a spirited auction to buy Guaranty Bank instead of a consortium of U.S. investors including Blackstone Group and TPG.
Question: I just heard that the federal government is no longer insuring money market accounts for their $1 per share value. Is that correct? --Terry, Las Vegas, Nevada
Regulators closed subsidiaries of Irwin Financial Corporation in Kentucky and Indiana Friday, bringing the total number of bank failures this year to 94, according to the Federal Deposit Insurance Corp.
Regulators closed one large bank in Illinois on Friday in one of the biggest collapses of the year, while two other smaller failures pushed the 2009 total to 92.
Some unemployed homeowners at risk for foreclosure could get a temporary break on their mortgage payments under a plan being pushed by the FDIC.
Regional banks in Maryland, Minnesota and California were closed by regulators Friday, bringing the total number of failed banks this year to 84, the Federal Deposit Insurance Corporation said.
The number of institutions on the government's so-called "problem bank" list surpassed 400 in the latest quarter, climbing to its highest level in 15 years, according to a government report published Thursday.
Regulators cleaning up after bank failures showed Wednesday how far they're willing to reach out for help.
Washington gets another chance to kick the bailout habit this week, when regulators consider the fate of a subsidy that has been good to smaller banks.
Facing mounting bank failures, regulators are putting a new twist on a familiar idea: splitting a bank's good assets from the bad ones.
Troubled Colonial BancGroup will be bought by rival BB&T Friday, the government said after state regulators closed the bank whose assets had been frozen by a federal judge.
Shares of BB&T Corp. shot higher Friday after reports that it might be scooping up the remains of Colonial BancGroup.
As yet another bank faces collapse, consumers are worried about their cash.
Three regional banks failed Friday, bringing the 2009 tally to 72, the Federal Deposit Insurance Corporation said.
The economy may have pulled out of its plunge, but you'd never know by a look at many big banks.
Lawmakers are quickly learning that "too big to fail" may be too complex to legislate away.
Cleaning up after bank failures is one chore you won't hear bankers complaining about.
The government's economic recovery efforts have brought many new and unfamiliar financial terms into the conversation. Here's a list of some we think are vital to understanding the recession and the government's attempts to fix it:
State regulators shut down seven regional banks Friday, the Federal Deposit Insurance Corporation said, bringing the total number of banks to fail in the United States to 64 this year.
State regulators shut down four banks Friday, the Federal Deposit Insurance Corporation said.
Bank of Wyoming was closed Friday by state regulators, bringing the total number of failed banks this year to 53, the Federal Deposit Insurance Corporation said.
Seven banks were shut down by authorities Thursday, pushing the tally of failed banks for 2009 to 52, more than doubling the failures in 2008.
When New Frontier Bank failed in April, regulators failed to find a buyer, forcing the FDIC to absorb the roughly $2 billion in assets that were once owned by the Colorado-based lender.
Local banks in Georgia, Minnesota and California were closed Friday by state regulators, bringing the total number of failed banks this year to 45, according to the Federal Deposit Insurance Corporation.
Regional banks in North Carolina, Kansas and Georgia were closed by state regulators Friday, bringing the total number of failed banks this year to 40, the Federal Deposit Insurance Corporation said.
Bank of Lincolnwood was shuttered by Illinois regulators Friday, bringing the number of failed banks this year to 37 and costing the Federal Federal Deposit Insurance Corp.'s deposit insurance fund $83 million.
Investors often demand more disclosure on mergers and acquisitions. But taxpayers -- who have billions at stake in government bailouts of financial firms -- are justified in feeling envious of the information provided when privately held, publicly listed companies do deals.
The Federal Deposit Insurance Corp. wants to move around top management at Citigroup, putting Chief Executive Vikram Pandit in a precarious position, according to a report published Friday.
Regulators shelved a controversial plan that aimed to cleanse banks' balance sheets of toxic assets.
The government's list of troubled banks swelled in the first quarter, climbing to its highest level in nearly 15 years, regulators said Wednesday.
Maybe the so-called "zombie" banks didn't die after all.
Strategic Capital Bank and Citizens National Bank failed on Friday, bringing the total bank failures for 2009 to 36, up from 25 in all of 2008.
Don't look now, but the nation's banking industry is about to get a whole lot smaller.
Big banks aren't the only ones with powerful lobbyists that know how to pull strings in Washington.
Banks lining up to repay bailout funds are easing away from the Federal Deposit Insurance Corp.'s debt insurance plan, a program that helped banks through last fall's financial storm -- and has made money for the FDIC to boot.
Next week the government is expected to reveal the results of its all-important bank stress-tests. Investors and customers alike will be scrutinizing these numbers to make sure their bank has the wherewithal to survive in this tough economic environment.
Federal Deposit Insurance Corp. chief Sheila Bair reiterated calls for creating a system that would allow regulators to dismantle a large financial institution.
First Bank of Idaho became the fourth U.S. bank to fail Friday, raising the 2009 total to 29 -- four more than the 25 that failed all of last year, the government said.
Top banking regulators offered a detailed view Friday into the workings of an Obama administration program aimed at assessing the health of the nation's largest banks.
Two more banks failed Friday bringing the tally to 25 in 2009, according to the government.
Two banks failed Friday, bringing the 2009 tally to 23, according to the government.
Question: I have $12,000 I want to invest for the short term. Banks are offering 2% annual percentage yields at best for three-month CDs, but I've seen an ad by a financial institution in my area for a three-month CD that pays 8%. This firm isn't a bank, but it says the CD is FDIC insured. Are you familiar with this type of CD? Do you think it's safe? --David Ankley, Leesburg, Florida
Bank regulators closed a Georgia-based bank Friday, marking the 21st bank to be shuttered this year, according to a statement from the FDIC.
Sheila Bair's band of bank watchdogs is about to get even busier.
Now that even the biggest banks are battling for survival, traditionally safe investments suddenly look fallible.
The Obama administration on Monday will formally unveil a program to help banks clean up their books by subsidizing private investors' purchase of troubled assets.
Bank regulators closed three banks Friday, marking the 18th, 19th and 20th failures this year.
The Federal Deposit Insurance Corp. wants Congress to broaden its power to protect consumers from banks that are engaged in criminal acts, according to testimony of an FDIC official Friday.
As we focus on your money this week, we think it's important to remember one area that should not be a source of panic, the Federal Deposit Insurance Corporation, better known as the FDIC.
State bank regulators closed Freedom Bank of Georgia Friday, making it the 17th bank to fail this year.
State bank regulators closed two more banks on Friday, the 15th and 16th banks to fail this year, as the worsening recession pulled more regional banks underwater.
The government's closely watched list of troubled banks grew during the fourth quarter to its highest level since 1994, regulators said Thursday.
The Federal Deposit Insurance Corporation said Thursday that it had successfully sold $1.45 billion in distressed real estate loans from a failed Nevada bank through a partnership with the private sector.
If it's Friday, there must be a bank failing somewhere across the country.
Four banks folded Friday, bringing the total number of banks to fail this year to 13.
Nine banks have failed so far this year. That's not good news, particularly since 25 failed last year.
State regulators shuttered three banks Friday evening, bringing the total number of bank failures this year to nine.
Three regional banks were closed Friday, bringing the total number of failed banks this month to six, as the financial crisis continues to take a toll on small banks nationwide.
Businesses largely moved out of a Federal Reserve lending program this week, signaling a shift in how companies are choosing to borrow money.
How many banks will fail this year? No one knows of course, but the answer is many. So far in 2009, we've already had three, putting us on a one-per-week pace. That could mean a doubling of last year's tally of 25, and only slightly less than the total number of failures heretofore over the entire decade (57).
The financial crisis has claimed its first two banks in 2009 at an approximate cost to the FDIC of more than $200 million.
Federal banking regulators are considering a plan to dramatically expand a lesser-known bailout program that provides government guarantees to hundreds of billions of dollars of corporate debt.
Which banks get saved and which are left to die? Few know the answer, and the Treasury Department continues to send mixed signals on how it is implementing the Troubled Asset Recovery Plan (TARP).
A group of investors is on the verge of buying the one of the nation's largest failed banks.
More banks will certainly fail in the months ahead, but at least regulators shouldn't have any trouble finding buyers.
In times of volatility, there's no place like treasurys, but surging demand for the safe, government bonds has sent their prices up and driven their yields into the ground, giving you little bang for your buck. Luckily, a risk-free alternative with attractive yields is now on the market: corporate bonds backed by the FDIC.
Hardly a day goes by without an announcement from a big company taking an axe to its payroll. But guess who won't be laying off people anytime soon?
Sagging sales, liquidation, bankruptcy - this holiday season, the retail biz is hard to navigate. Here are some mistakes you'll want to avoid as you do your shopping.
With the number of troubled banks on the rise, many Americans are wondering whether their bank is safe.
Three more banks - two in California and one in Georgia - failed Friday, bringing to 22 the number of institutions forced to close in the wake of the financial crisis.
Fifth Third Bancorp, which is receiving $3.5 billion in bailout money, will acquire Florida's failed Freedom Bank.
The Bush Administration is working to create a program that would cut down on foreclosures by helping creditworthy borrowers make their monthly mortgage payments
The federal government on Tuesday announced a historic plan to restore confidence in the U.S. financial system and to spur banks to begin lending again more normally - both to each other and to consumers and businesses.
President Bush's announcement Tuesday that the Federal Deposit Insurance Corp. will temporarily do away with its insurance caps and cover all deposits in non-interest bearing accounts was a measure aimed straight at Main Street. But critics say the step doesn't address the most critical problem threatening small businesses: slow sales and a sluggish credit market.
Every once in a while a decision made in a boring meeting at an unglamorous, fluorescent-lit federal agency signals that historic upheaval is underway for the world outside
Two regional banks were closed by state regulators Friday as the downturn in the housing market continues to strain local lenders.
With stocks and bonds in turmoil, and the housing market still in the dumps, you're probably wondering: Are there any safe places to stash your money in this market?
Now that the Senate has passed a new version of the controversial bailout bill, consumers and businesses worried about what may happen to their bank deposits if more banks go under could breathe a little easier.
A day after the House's surprise defeat of a $700 billion financial rescue bill, talk grew louder about alternative government steps that could help battered credit markets and stave off broader problems in the economy.
The federal agency that guarantees bank deposits is asking Congress for temporary authority to raise the limit on the amount of money it insures for individual bank accounts.
As the House fails to pass the financial-rescue package, regulators will be forced to revert to a piecemeal approach. And that could cost taxpayers more
Stocks skidded Monday morning - with the Dow industrials down more than 300 points - as investors eyed a series of bank failures in Europe and worried that the government's $700 billion bank bailout plan won't be sufficient to loosen up nearly frozen credit markets.
Bank failures are scary - especially during these times of economic distress.
Ameribank Inc. was shut down on Friday by the Office of the Thrift Supervision, making it the 12th bank this year to go under.
Mortgage-related problems continued to hammer regional banks, according to a report released Wednesday.
State regulators shuttered a Georgia bank late Friday, marking the tenth bank failure this year.
The recent failure of IndyMac has sent the FDIC's insurance fund balance to its lowest levels since 1995. This is forcing the regulator to boost its reserves by increasing the fees banks pay.
More banks are in trouble according to the FDIC. Is your bank next on the list? Here's what to look for.
The number of troubled banks on the government's watch list grew dramatically last quarter.
U.S. Treasury bond prices were mixed Tuesday afternoon as the previous day's rally failed to gain traction and investors shrugged off mixed economic data.
| Most Viewed | Most Emailed | Top Searches |
| Most Viewed | Most Emailed | Top Searches |
Video
