Showing posts with label Friday The 13th. Show all posts
Showing posts with label Friday The 13th. Show all posts

Friday, May 17, 2013

Whoops! The 13th Bank Failure Of 2013 Was On Tuesday The 14th!


Well now, that's unusual. The 13th bank failure of 2013 occurred this past Tuesday, May 14th. Usually the FDIC waits until Friday late to close a bank. Can you imagine having closed it the day before, on Monday, May 13th? Me either. I guess the Feds are having a little fun with us. Either that or the FDIC is having a baseball game with Goldman Sachs tonight.

The bank in question which failed on Tuesday was Central Arizona Bank, Scottsdale, Arizona, costing the FDIC a measly $8.6 million.

Friday, March 9, 2012

Bank Failure Friday: The 13th in 2012. FDIC Covered Institutions Decline 13 Percent.

# 13 was New City Bank, Chicago, Illinois, costing the FDIC $17.4 million. No buyers for this one.

As of this date, FDIC coverage extends to 7,359 bank and savings institutions.

When IndyMac Bank of Pasadena, CA, failed in July 2008, there were 8,494 insured institutions.

The number of banks covered by the FDIC has thus contracted by over 13 percent in consequence of the depression of 2008-2009.

It took until March 2009 to complete the sale of IndyMac, which was originally estimated to cost the FDIC between $4 billion and $8 billion. In the end, its failure cost the FDIC $10.7 billion.