Update on bank failures

September 11, 2008

Last week the regulators closed down another bank. Silver State Bank has disappeared. It now appears that they’re closing a bank on every Friday, every week.

I have been following bank failures carefully for quite a while now. Vineyard Bank, Buckhead Security Bank, California’s Imperial Capital Bank, Gateway Bank, Liberty Bank of Florida, Community National bank of Sarasota, Alpha Bank, and Haven Trust of Georgia are on my personal watchlist; I believe that the failure of these banks is imminent. I also expect Bankunited to fail at some point. The numbers that document the bankrupt situation of BankUnited are here. Of course it’s certain that there are more banks than these that will fail.

All the banks that have failed and were reorganised by the FDIC in the past two weeks were on this list that was published here. Visitors can use that list to reach their own conclusions.

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4 Responses to “Update on bank failures”

  1. REY SANTOS said

    Don’t hold your breath based on your speculation regarding BankUnited. It is a sound community based bank that has been working with all of its mortgage clients to make sure that the option arm mortgages are modified as quickly as possible. When everyone else, government included, were trying to figure out what to do about the ‘mortgage crisis’, BankUnited was already working on eliminating risky mortgages and refinancing and modifying those mortgages.

  2. […] 28, 2008 Alpha Bank was on the list I placed here on September 11th, and I wrote that I believed their collapse was imminent. This banks was closed on […]

  3. […] 28, 2008 Alpha Bank was on the list I placed here on September 11th, and I wrote that I believed their collapse was imminent. This bank was closed on […]

  4. curls said

    How close is Imperial Capital Bank as of Nov 13, 2009? My CD at 4+% comes due Dec 21 2009. I hope they make it!

    Any ideas? Thanks.

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