A new contractor to market failing financial institutions through a virtual data room (VDR) has been hired by the federal bank deposit insurance agency, it said Wednesday, beginning next month. In a letter to banks […]
All deposits of Pulaski Savings Bank of Chicago, Ill., were assumed by Millennium Bank of Des Plaines, Ill., under a purchase-and-assumption agreement entered into Friday by the federal bank deposit insurer to protect depositors, the […]
Republic First Bank became “critically undercapitalized” in April – which a dysfunctional board and management team exacerbated, ultimately leading to the bank’s failure, according to the material loss review published Wednesday by the federal insurer […]
The federal bank deposit insurer late Friday announced the closure of the $66 million-in-assets Citizens Bank, Sac City, Iowa, and the purchase of the bank’s assets and assumption of all its deposits by Iowa Trust […]
The federal agency that insures bank deposits on Friday entered into a purchase-and-assumption (P&A) agreement with Dream First Bank, National Association, of Syracuse, Kan., to assume all deposits of the failed Heartland Tri-State Bank of […]
Federal banking regulators met Friday afternoon with the Secretary of the Treasury to discuss developments around the closure of a Santa Clara, Calif., bank, the Treasury Department said. In a release, the Treasury Department said […]
A Santa Clara, Calif., bank largely serving the tech industry was closed Friday by state regulators, which immediately prompted federal regulators to charter a new bank to accept the deposits of the closed bank, the […]
The second bank of the year to fail – First State Bank of Barboursville, W.Va. – did not warrant an in-depth review by the federal insurer of bank deposits even though the failure is estimated […]
Financial difficulties unrelated to the COVID-19 pandemic led to the demise of Almena State Bank of Almena, Kan., which on Friday became the fourth federally insured bank to fail in 2020, according to Federal Deposit […]
Longstanding capital and asset quality issues going back more than 10 years were the underlying reasons for a Florida bank becoming the third to fail so far in 2020, the federal insurer of bank deposits […]
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