The Federal Deposit Insurance Corporation (FDIC)

Editor's Note- For earlier articles on this topic which are included in our article on the Pension Benefits Guaranty Corporation please go to the article the Pension Benefits Guarantee Corporation (PBGC) 

(10/14/19)- The 10-year U.S. Treasury note closed Friday at the 1.74% level, up 22 basis points from last Friday’s close at the 1.52% mark.

No banks were closed by financial regulators last week.

(10/6/19)- The 10-year U. S. Treasury note closed Friday at the 1.52% mark.

Financial regulators did not close any banks this week, so the total amount of closures for 2019 stands at 1.

(10/2/19)- The yield on the 10-year U. S. Treasury note closed the month of September at the 1.6755 level. The yield has therefore fallen 0.325% since the end of June, the biggest quarterly decline in more than seven years.

(9/28/19)- The interest rate on the 10-year U. S. 10-year note moved down to the 1.69% mark on Friday, from the 1.72% it had closed at last Friday, and the1.90% mark the prior week.

No banks were closed by financial regulators this week.

We at therubins erred when we failed to list the one branch Enloe State Bank of Cooper Texas as having failed on May 31, 2019. The bank had $36.7 million in assets and $31.3 million in deposits. Its failure will cost the Federal Deposit Insurance Fund (FDIC) $27 million.

(9/22/19)- This week saw the 10-year U. S. Treasury note back off to close Friday at the 1.72% mark, down from last week’s Fri day close of 1.90%

Financial regulators did not close any banks this week

(9/14/19)- The 10-year U. S. Treasury note made a sharp move up to the 1.90% level where it closed at on Friday, up from last week’s close of 1.55%.

Once again, no banks were closed this week by financial regulators.

(9/7/19)- The 10-year U. S. Treasury note nudged higher this week, closing at the 1.55% mark. That’s just about at the same level it was at last month.

No banks were closed by regulators this week, so the year continues to have a clean slate in that no banks have been closed

(8/31/19)—The 1 0-year U. S. Treasury note closed the week at 1.506%, not far from the low it hit in October 2016 at 1.33%

Financial regulators did not close any banks this week.

(8/24/19)- One year ago, the 10-year U. S. Treasury note was slightly above the 3.0% level, whereas this past Friday it was at the 1.50% mark.

The year 2019 continues with its clean slate of having no banks closed by financial regulators.

(8/19/19)- The 10-year U.S. Treasury note closed at the 1.539% level, up from last Friday’s close of 1.37%.

No banks were closed last week by financial regulators.

(8/10/19)- The 10-year U. S. Treasury note closed Friday at the 1.37% level, down from last week’s close of 1.85%

Financial regulators did not close any banks this week.

(8/4/19)- The Federal Open Market Committee (FOMC) lowered interest rates by ¼% on Wednesday, and the 10- year U. S. Treasury yield moved down to the 1.85% level this week.

Once again, no banks were closed this week by financial regulators.

(7/28/19)- All eyes will be on the FOMC meeting Tuesday and Wednesday this week, with the statement being released at 2:15 pm Wednesday as to whether or not they will move interest rates at this meeting. As of the close of the bond market on Friday, the 10-year U. S. Treasury note stood at the 2.08% mark.

No banks have been closed by financial regulators so far this year.

(7/21/19)- The Fed’s Open Market Committee meets Tuesday and Wednesday of this week, with most financial experts predicting an increase of ¼%. The 10-year U. S. Treasury note closed Friday at the 2.04% level.

No banks were closed this week by regulators.

(7/14/19)- The 10-year U. S. Treasury note yield rose slightly this week, and closed at the 2.12% mark on Friday.

Financial regulators did not close any banks this week

(7/7/19)- The 10-year U. S. Treasury note closed Friday at 2.05% versus last Friday’s close of 2.0%

No banks were closed by financial regulators’ this week..

(7/1/19)- The 10-yeart U. S. Treasury note continues to drift lower, closing Friday at the 2.0% level.

Once again, no banks were closed last week by financial regulators.

(6/22/19)- The 10-year U. S. Treasury note closed Friday at the 2.06% mark, after touching a level below 2% during the week.

No banks were closed by regulators during the week

(6/8/19)- The 10-year U. S. Treasury note closed Friday at its lowest yield of the year at 2.09%, which is down from its September high of 3.2%.

Financial regulators did not close any banks this week.

(6/2/19)- The 10-year U. S. Treasury note closed Friday at the 2.14% mark, which is close to its 2-year low, and below its high of 3.2% reached in September,

No financial institutions were closed this week by regulators.

(5/26/19)- The 10-year U. S. Treasury note continued to edge lower, closing at the 2.32% mark on Friday.

Once again, no banks were closed by financial regulators..

(5/13/19)- The 10-year U. S. Treasury note closed Friday at the 2.45% mark, slightly down from last week’s close of 2.506%.

No banks were closed by financial regulators.

(4/29/19)- The 10-year U. S. Treasury note closed last Friday at the 2.506% level.

Financial regulators did not close any banks.

(4/13/19)- The 10-year U. S. Treasury notes nudged slightly higher on Friday, closing at the 2.55% level, versus last week close of 2.50%

Once again, no banks were closed by financial regulators

(4/6/19)- The 10-year U, S, Treasury note closed Friday at the 2.50% mark, as interest rates continue to edge lower,.

Financial regulators did not close any banks this week.

(3/16/19)- The 10-year U. S. Treasury note continued to edge lower, closing Friday at the 2.60% mark, down from the prior week’s close of 2.62%

Financial regulators did not close any banks this week.

(3/11/19)- The 10-year U. S. Treasury note dipped slightly this past week when it closed at the 2.62% level from the prior week’s close os 2.75%.

Financial regulators did no close any banks in the prior week.

(3/4/19)- The 10 year U, S, Treasury note reached a 2-month high Friday when it closed at the 2.76% level, up from 2.66% the previous week.

No banks were closed by financial regulators this week

(2/23/19)- Banks collectively earned record annual profits of $236.7 billion, according to figures released by the Federal Deposit Insurance Company (FDIC), an increase of $ 7 2.4 billion, or 44%, from 2017.

No bank failed in 2018, marking the first time since 2006, a year before the start of the financial crisis that this happened. Banks combined net interest income rose 8.1% in the fourth quarter of 2018 from a year earlier. The average rate of loans 90 days or more past due dropped below 1% for the first time since the 2007 The net interest margin increased to3.40% in 2018, from 3.25% the previous year.

No banks were closed this week by financial regulators.

The 10- year U, S, Treasury note closed at exactly the same level as the previous week, 2.66%

(2/16/19)- The 10-year U.S. Treasury note closed 2018 at the 2.70% level, and on Friday ay closed at the 2.66% mark.

No banks were closed this week by financial regulators

(2/9/19)- The 10-year U. S. Treasury note closed Friday at the 2.63% level, as it continues to edge lower from the 3.23% mark it achieved in September last year.

No banks were closed this week by financial regulators.

(2/2/19)- The yield on the 10-year U. S. Treasury note closed Friday at the 2.69% level, down slightly from last week’s close of 2.75%.

Financial regulators did not close any banks this week.

(1/26/2019)- In September 2018, the 10-year U. S. Treasury note reached its recent high of 3.23%. Since then it has retreated to close on Friday at the 2.75% level.

Once again financial regulators did not close any banks this week.

(1/19/19)- No banks were closed this week by financial regulators.

The 10-year U. S. Treasury note closed Friday at the 2.73% level.

(1/13/19) – The 10-year U. S. Treasury note barely budged this week since it closed at 2.70% on Friday.

No banks were closed this week by financial regulators

(12/30/18)’No banks were closed by regulators so 2018 will be a year of no bank closures.

The 10 year U.S. Treasury note closed Friday at the 2.74% level

(12/24/18)- The 10-year U.S. Treasury note closed Fri. day at the 2.79% mark, down slightly from the prior week’s close of 2.88%

2018 will go down as a year in which financial regulators did not close any banks.

(12/17/18)- On May 26^th the 10-year U.S. Treasury note closed at the 2.88% mark. This past Friday it closed at the 2.89% level.

No financial institutions were closed this week by regulators, so the year 2018 looks like it will be a year of no closures, as opposed to the 7 that were closed last year.

(12/9/18)- The 10-year U.S. Treasury not has dipped below the 3% mark, closing at 2.87% on Friday.

Regulators have not closed nay financial institutions this year.

(12/2/18)- The 10-year U. S. Treasury note retreated to the 3.01% level on Friday, from the 3.04% level the prior Friday.

No financial institutes were closed by regulators, so 2018 is a year of no closures so far.

(11/24/18)- As we head into the last month of the year, the 10-year U.S. Treasury note closed this past Friday at the 3.045%% level up slightly from its year end close of 2.42%

No banks have been closed this year by financial regulators as opposed to the 7 that were shut down in 2017.

(11/17/18)- The 10-year U.S. Treasury note drifted down to the 3.07% level at Friday’s close.

No financial institutes were closed by regulators so 2018 continues to have a clean slate.

(11/11/18)- The 10-year U.S. Treasury note closed Friday at the 3.189%, after reaching its highest mark in 8 years earlier in the week at 3.289%.,

Financial regulators did not close any banks, so this year continues to have a clean slate.

(11/4/18)- Interest rates continue to edge their way higher with the 10-year U.S. Treasury note closing Friday at the 3.21% level up from last weeks close of 3.07%,

As we head into the last 2 months of the year, 2018 continues to be one in which regulators have not had to close any banks.

(10/27/18)- There was a media news centering on the fed increasing interest rates, but the bottom line this week saw a decrease in the yield on the 10-year U.S. Treasury note to the 3.07% level from the 3.18% mark the prior Friday.

No banks were closed by financial regulators this week, so 2018 still has a clean slate of no closures.

(10/22/18)- The 10- year U. S. Treasury note closed Friday at the 3.189% level, with the unemployment rate having dropped to 3.7%, the lowest level in the last 20 years.

Fed officials have indicated that they intend to raise interest rates another notch in December.

(6/2/18)- Even though the Department of Labor’s May monthly job report showed an increase of 223,000 new jobs created in the month, and the unemployment rate dropping to 3.8% from the prior month’s 3.9% mark, the 10-year U.S. Treasury note inched up to 2.89% from 2.88% the prior week.

Once again, regulators did not close any banks this week.

(5/29/18) With the Senate’s confirmation of Jelena McWilliams to replace Martin Gruenberg to head the Federal Deposit Insurance Corporation (FDIC), the Trump administration now has appointed all the heads of the officials overseeing the banking industry.

Prior to this position, the Yugoslavian born Ms. McWilliams was head of the legal department at the Cincinnati based Fifth Third Bancorp

(5/26/18)- Over/under gamblers would have a great time betting on whether the 10-year U.S. Treasury note would close the week over or under 3%. This week the under would win, since it closed Friday at the 2.88% level.

Banking regulators did not close any banks this week, so 2018 still has a clean slate.

(5/25/18)- U.S. banks had record profits in the first quarter of this year, mainly as a result of the new tax law, rising interest rates and a good economy.

The industry reported $56 billion, in net income for the quarter, up 27.5% from the prior year’s quarter, according to the latest report from the FDIC. The previous record was the 2^nd quarter profit of $48.1 billion in the 2^nd quarter of 2017.

Banks return on equity of 11.44% was the highest since 2017. Overall noncurrent loan ratio fell to 1.34% in the first quarter of 2018, a post crisis low, according to the report.

(5/19/18)- It’s been almost 4 years since the 10-year U.S. Treasury note last closed above the 3% mark at the end of a week, and it did so this week, closing at the 3.07% level.

Financial regulators did not close any banks this week, so the total number of closures this year stands at 0.

(5/12/18)- The 10-year U. S. Treasury note continues to flirt with the 3.00%, as it closed on Friday at 2.97%, up from last week’s close of 2.94%.

Once again, no banks were closed this week by financial regulators, so the slate is still clean, with no banks having been closed so far this year by financial regulators

(5/5/16)- The Fed’s Open Market Committee met this week and voted to keep interest rates unchanged. 169,000 new jobs were created in April and the unemployment rate sank to 3,9% The 10-year U. S. Treasury note closed the week at 2.94%, so it barely moved from the prior week.

Banking regulators did not close any banks this week, so 2018 continues without any banks having been closed so far this year.

(4/28/18)- At the end of 2017 the yield on the 10-year U.S. Treasury note was 2.41%. That note closed this Wednesday at the 3.02% mark, though it backed off slightly by Friday, closing at the 2.98% mark.

The first one-third of 2018 has a clean slate. There have not been any bank closures so far this year.

(4/21/18)- There really is nothing magical about it, but the 10-year U.S. Treasury note closed Friday at the 2.94% mark, so it is bordering on the 3.00% level, which hasn’t been seen since pre 2008.

Financial regulators did not close any banks this week.

(4/14/18)- The treasury market is once again trading in a very narrow range. The 10-year U. S. Treasury note closed Friday at the 2.82% level, barely unchanged from the prior week’s close on Friday of 2.78%’

2018 continues to have a clean slate in that no banks were closed this week by regulators.

(4/7/18) - No banks were closed by regulators this week, so this year continues to have a clean slate, as opposed to last year when 3 banks had been closed as of 4/6/17.

The March employment number came in at a disappointing 103,000 new jobs created for the month, and along with the reason of “flight to quality”, the 10-year U. S. Treasury note closed Friday at 2.78%, up just slightly from the prior week’s close of 2.75%

(3/30/18)- The 10-year U. S. Treasury note drifted slightly lower this week, since it closed at the 2.75% level on Thursday. Banks are closed on Good Friday, so there was no trading taking place today

Financial regulators did not close any banks this week, so 2018 has not had a single closure yet.

(3/24/18)- Even though the Federal Open Market Committee (FOMC) increased interest rates by ¼ of a point on Wednesday, the 10-year U.S. Treasury note closed Friday at 2.83%, virtually unchanged from the prior week’s close of 2.84%

No banks have been closed so far this year by financial regulators.

(3/17/18)- The Federal Open Market Commission (FOMC) will hold a meeting on March 21 and March 22, and it will make its interest rate announcement at 2:15 PM on Wednesday. The 10-year U.S. Treasury note closed Friday at 2.84%, down a tad from last Friday’s close of 2.89&%.

No banks were closed this week by financial regulators, so there has not been a single closure so far this year.

(3/10/18)- Even though the U.S. Labor Department’s report for the month of February showed an increase of 313,000 jobs, the 10-year U.S. Treasury note ended the week at the 2.89%, almost unchanged from the prior week’s close of 2.85%.

The year continues with a clean slate of having no banks closed as of Fri.

An FDIC report of February 27, 2018 stated that there are less than 100 banks on its “problem bank” list, which is the lowest number on the list since the financial crisis began at the end of 2007.

(3/3/18)- The 10-year U.S. Treasury note closed Friday at the 2.85% mark, slightly less than the prior Friday’s close of 2.88%

No banks were closed this week by financial regulators, so, after 2 months into 2018, still no banks have been closed by regulators

(2/24/18)- The year 2018 continues to have a clean slate with no banks having been closed by financial regulators this week, versus the 2 that had been closed at this same point in time in 2017.

As Mel Allen used to say: “How about that”- the 10-year U.S. Treasury note remained exactly unchanged this week at 2.88% from the prior week’s close of 2.88%

(2/17/18)- The 10-year U.S. Treasury note closed Friday at the 2.88% level, slightly higher than last Friday’s close at 2.825%. Interest rates are moving up, but at a very slow rate. The Federal Open Market Committee (FOMC) next meets in mid-March.

The year 2018 continues to have a clean slate, since financial regulators have not closed any banks yet this year.

(2/10/18)- The Dow Jones Industrial Average was down about 5% this week, so the interest rate on the 10-year U.S. Treasury note level was affected by the “flight to quality” as investors sought the safety of U.S. government obligations. It closed on Friday at the 2.825% mark, which was an inch lower to the prior Friday’s close of 2.85%.

Financial regulators did not close any banks this week, so 2018 continues with its clean slate of no closures..

(2/5/18)- The Department of Labor’s month of January employment report showed that 200,000 additional workers came into the work force last month, and this was reflected in the 10-year U.S. Treasury note rising to 2.85% at Friday’s close. This is the highest level it has been at in 4 years.

So far this year, no banks have been closed by financial regulators.

(1/28/18)- The 10-year U.S. Treasury note backed off an inch, closing Friday at the 2.66% mark, down from the prior week’s close of 2.69%

Financial regulators have not closed any banks in the month of January of this year.

(1/25/18)- Jelena McWilliams, President Trump’s nominee to head the Federal Deposit Insurance Corp. (FDIC) testified before the Senate Banking Committee, where she had previously worked for several years. She testified that she planned to ease regulations for community banks, and encourage the creation of new banks.

The number of deposit-insurance applications approved by the FDIC had dropped from 237 in 2005 to about 12 in 2009.

Ms. McWilliamsis currently is the head attorney for Fifth Third Bancorp in Cincinnati. If her nomination is approved by the committee, and then the full Senate, she would then join with the other Trump nominees to head the federal Reserve ((Jerome Powell) and the comptroller of the currency ((Joseph Otting)

(1/20/18)- The 10-year U.S. Treasury note closed on Friday at a 3 year high of 2.69%. Please keep in mind that this level is far below the 14% mark it was at several years ago, and still close to its all-time low of 1.3%

No banks were closed this week by financial regulators.

(1/13/18)- The 10-year U.S. Treasury note Friday closed at the 2.55% level. Two years ago, on January 10, 2016, the 10-year note was at the 2.26% mark. Last year’s high level was 2.63%.

Financial regulators did not close any banks this past week.

(1/6/18)- Even though the Department of Labor’s employment report for the month of December came in at a disappointing 147,000 jobs created during the month, it barely budged the interest rate for the 10-year U.S. Treasury note which closed Friday at 2.48%, virtually unchanged for the week.

No banks were closed by financial regulators, so the slate stays clean for 2018.

(1/1/18)- The 10-year U.S. Treasury note moved in a 0.57% range in 2017, between 2.06% and 2.63%. That is the narrowest annual range of the past decade, according toFactSet data.

(12/30/17)- The final numbers are in for the year 2017, and the total number of bank closings this year was the same as in 2016, namely 7.

The 10-year U.S. Treasury note closed the year at the 2.42% level, only slightly lower than the 2.45% it began the year at.

(12/24/17)- The 10-year U.S. Treasury note moved higher this week, and closed Friday at 2.48%, which is fairly close to its yearly high. It began the year at the 2.35% mark.

No banks were closed by regulators this week, so the number of closures for the year stands at 7, exactly the same amount as were closed in 2016.

(12/17/17)- The 10-year U.S. Treasury note closed Friday at 2.36%, down ever so slightly from the prior Friday close of 2.38%

The 2 branch Washington Federal Bank for Savings, Chicago, Ill., which had total assets as of September 30, 2017 of $166.3 million, and total deposits of $144 million became the 7^th bank closed in 2017 by financial regulators.

Its closure will cost the Deposit Insurance Fund (DIF) $60.5 million

(12/9/17) Even though the Department of Labor statistics showed a healthy 228,000 new jobs created in the month of November, and the unemployment number remained at 4.1%, the 10-year U.S. Treasury note barely budged this week, as it closed Friday at the 2.38% level.

Once again, no banks were closed this week, so the number of closures so far this year stands at 6.

(12/3/17)- This year has seen the narrowest trading range in history for the 10-year U.S. Treasury note from January 2, 2017 through December 1, 2017 with its close on Friday at the 2.36% level.

No banks were closed by regulators so the number of closure so far this year stands at 6.

(11/25/17)- The 10-year U.S. Treasury note began the year at the 2.45% mark, and it stood at the 2.33% level on Friday.

No banks were closed by regulators this week, so the number of closures for the year still stands at 6.

(11/18/17)- The 10-year U.S. Treasury note closed Friday at the 2.35% level, down slightly from its close the prior week at the 2.40% mark.

Once again, no financial institutions were closed by regulators this week, so the total number of bank closures for the year remains at 6.

(11/11/17)- The 10-yeae U.S. Treasury note closed the week at the 2.40% mark.

No financial institutions were closed by regulators this week, so the total number of closures for this year remains at the 6 mark.

(11/4/17)- The 10-year U.S. Treasury note closed on December 31, 2016 at the 2.45% level. It closed yesterday at the 2.34% mark. The reality of the situation is that even though the fed increased rates 3 times this year, it has not had a noticeable effect on longer maturity fixed income items.

No financial institutions were closed this week by regulators, so the total number of closures this year still stands at 7.

(10/28/17)- The 10-year U.S. Treasury note’s interest rate creeped up this week to the 2.43% lev el from last Friday’s close of 2.39%

Financial regulators did not close any banks this week, so that the number of closures, so far this year, remains at the 6 mark.

(10/21/17)- Friday saw the 10-year U.S. Treasury note edge its way up to the 2.39% from last Friday’s close of 2.23%

The total number of bank closures so far this year remained at 6, since regulators did not close any banks this week.

(10/14/17)- The narrow trading range for the 10-year U.S. Treasury note continued this week, with its rate dropping to the 2.27% level, down from last Friday’s close of 2.37%

Once again no banks were closed by financial regulators this week, so the total number of closures still stands at 6 for the year.

(10/7/17)- For the first time since 2010, the monthly new jobs created report from the Department of Labor showed a decrease of 33,000, the interest rate on the 10-year U.S. Treasury note barely moved up to the 2.37% mark on Friday, very close to last week’s close of 2.33%

No banks were closed by regulators this week, so the number of closures this year remains at the 6 mark.

(10/1/17)- There have been no bank closures since May 26, so that total still stands at 6 for the year.

Interest rates moved slightly higher this week, with the 10-year U.S. Treasury note closing at the 2.33% level.

(9/24/17)- No financial institution has been closed since the Fayette County Bank of Saint Elmo, Ill. back in May, so the number of closures still stands at 6 for the year.

The interest rate on the 10-year U .S. Treasury note closed Friday at the 2.26 level, up from the prior week’s close of 2.00%

((9/16/17)- The interest rate on the 10-year U.S. Treasury note inched down this week to the 2.00% mark, from the prior week’s close at the 2.06% level.

Financial regulators did not close any banks this week, so the total number of closures for the year still stands at 6.

(9/9/17)- The 10-year U.S. Treasury note ended Friday at the 2.06% mark, thus continuing its narrow trading range for another week. Our note dated 8/26/17 below reflected on the narrowness of its trading range for many months now.

The total number of bank closures this year remained at 6, since regulators did not close any banks this week.

(9/2/17)- The 10-year U.S. Treasury note continued to trade within a very narrow range as it ended the week at the 2.157% level, as opposed to last week’s close of 2.16%.

“Financial results for the second quarter of 2017 are included in the FDIC's latest Quarterly Banking Profile released on August 22nd. Commercial banks and savings institutions insured by the FDIC reported aggregate net income of $48.3 billion in the second quarter of 2017, up $4.7 billion (10.7 percent) from a year earlier. The increase in earnings was mainly attributable to a $10.3 billion (9.1 percent) increase in net interest income and a $654 million (1 percent) increase in noninterest income.” (FDIC website)

No banks were closed this were closed this week by regulators, so the amount of closures this year remains at 6.

(8/26/17)- The 10-year U.S. Treasury note closed Friday at the 2.16% level. The yield on the 10-year note is in its tightest 90-day range since 1972, according to WSJ Market Group. In our previous items we called the 10-year U.S. Treasury note a bond, and we apologize for this error.

No banks were closed this week by regulators so the total number of closures this year remains at 6

(8/19/17)- The Consumer Price Index (CPI) for the month of July came in at1.7% was slightly less than the 2% that the fed had hoped for. The 10-year U.S. Treasury bond finished Friday at 2.20%, as opposed to the prior week’s close of 2.19%.

No banks were closed this week, so the number of closures still stands at 6 for the year.

(8/12/17)- Is it the calm before the storm? The 10-year U.S. Treasury bond hardly budged this week, as it closed Friday at the 2.19% mark, down from the prior week’s close at 2.26%.

The number of bank closures still stands at 6, since none were closed this week.

(8/6/17)- In spite of the fact that the Department of Labor’s July monthly jobs report showed a healthy 209,000 new jobs filled for the month, the 10-year U.S. Treasury bond closed Friday at the 2.26% level, which was barely unchanged from the previous week’s close of 2.23%;

No banks were closed this week, so the total number of closures for the year remai9ns at 6

(7/29/17)- The 10-year U.S. Treasury bond barely moved this week, since it closed Friday at the 2.28% level versus the previous Friday’s close of 2.23%.

Once again no banks were closed by regulators, so that number remains at 6 closures, so far this year.

(7/22/17)- The 10-year U.S. Treasury bond closed out 2016 at the 2.45^% mark, and even though the Fed’s Open Market Committee has increased the fed funds rate several times this year, it closed Friday at the 2.23% level.

No banks were closed this week by regulators, so the total number of closures this year still stands at 6, versus the 5 that were closed all of last year.

(7/15/17)- The good streak continues, as once again no banks were closed by regulators this week. The total number of closures for the year still stands at 6.

The 10-year U.S. Treasury bond closed on Friday at the 2.139% level, down from the prior week’s close of 2.39%

(7/8/17)- The interest rate on the10-year U.S. Treasury continued to nudge higher this week, closing Friday at the 2.39% level, up from last Fr5iday’s close of 2.30%. The Labor Department new jobs created for the month of June showed an increase of 222,000 jobs.

Once again, regulators did not close any banks this week, so the total number of closures for the year remains at 6.

(7/4/17)- The 10-year U.S. Treasury bond moved up to close Friday at the 2.30% mark, as opposed to the previous Friday close at 2.15%.

Regulators did not close any banks so the total number of closures this year still stands at 6.

(6/24/17)- Talk about “steady as she goes”, the 10-year U.S. Treasury bond hardly budged this week, as it closed at the 2.14% mark, virtually unchanged from the prior Friday’s close of 2.15%.

No banks were closed by regulators this week so the total number of closures this year remained at 6.

(6/17/17)- Even though the Federal Open Market Committee (FOMC) increased the fed funds rate by 0.25% on Wednesday, the rate on the 10-year U.S. Treasury bond nudged slightly lower, closing at the 2.15% mark on Friday, from the prior Friday’s close at 2.19%.

No banks were closed by regulators this week, so the total number of closures this year remains at 6.

(6/10/17)- The 10-year U.S. Treasury bond closed on Friday at the 2.19% level, virtually unchanged from the prior Friday’s close at 2.15%.. The Fed’s Open Market Committee (FOMC) meets on June 12 and June 14, with it’s statement on interest rates coming at 2 PM on Wed.

No banks were closed this week by regulators, so the total number of closures for the year still stands at 6.

(6/3/17)- Banking regulators did not close any banks this week, so the total number of bank closures for 2017 remains at 6.

The 10-year U.S. Treasury bond closed Friday at the 2.15% level, slightly lower than last Friday’s close of 2.24%.

(5/27/17)- The single branch Fayette County Bank of Saint Elmo, Ill. became the 6^th banking casualty this year. The bank had $34.4 million in assets and $34.0 million in deposits as of March 31, 2017. The FDIC estimated that its failure will cost the Deposit Insurance Fund (DIF) $10 million.

The 10-year U.S. Treasury bond closed Friday at the 2.24% level, exactly where it had closed at the prior week.

(5/20/17)- Financial regulators did not close any banks this week, so the total number of bank closures this year stands at 5.

The 10-year U. S .Treasury bond closed Friday at the 2.24% level.

(5/15/17)- Banking regulators did not close any banks last week, so the total amount of closures this year remains at 5.

The 10-year U.S. Treasury bond closed at 2.33^, down from last Friday’s close 2.35% level. The 30-year U.S. Treasury bond closed below the 3% mark at 2.95%.

(5/7/17)- Even though the Department of Labor’s April job report showed that 211,000 people gained employment in the month, the 10-year U.S. Treasury bond barely nudged up this week, closing at the 2.35% level compared to last week’s closing mark of 2.29%.

The 119 branch Guaranty Bank of Milwaukee, WI, with offices in 5 states became the 4^th bank closed this year by regulators. The bank had total assets as of March 30, 2017 of $1.0 billion, and total deposits of $1.0 billion. Its closing will cost the deposit insurance fund (DIF) $146.4 million

There were only 3 banks that had been closed at this same point in time last year.

(4/30/17)- The 29-branch First National Bank of New Orleans, La. was closed by regulators, making it one of the largest closures since 2009. Earlier this year, First NBC Bank sold assets and deposits, including nine branches, to Whitney Bank. of Gulfport, Miss. It became the 4^th bank closure so far this year

As of March 31, 2017 First National had $4.74 billion in total assets and $3.54 billion in total deposits. Its closure will cost the Deposit Insurance Fund (DIF) $996.9 million,

The 10-year U.S. Treasury bond closed Friday at the 2.29% mark virtually unchanged from the prior week’s closure at the 2.23% level.

(4/22/17)- The 10-year U.S. Treasury bond ended the week Friday at the same level that it was at last Thursday (The bond market was closed last Friday), namely the 2.23% mark.

No banks were closed by regulators this week, so that number remains at 3.

(4/15/17)- The 10-yearU.S. Treasury bond continued its recent trend of edging lower this week, as it closed Thursday (the bond market was closed for Good Friday} at the 2.237% level, down from 2.37% the prior week.

Once again, no banks were closed by regulators, so the total number of bank closures this year still stands at 3.

(4/8/17)- Even though the March employment number came in at 98,000, the 10-year U.S. Treasury bond barely budged this week, closing at the 2.37% level, dowm0.02% from the prior week’s close of 2.39%/

No banks were closed by regulators this week, so the number of closures this year remains at 3.

(4/1/17)- The narrow trading range for the 10- year. U.S. Treasury bond continued this week, with it closing at the 2.39% level on Friday, down from last week’s close of 2.40%

Once again, no banks were closed by regulators, so the total amount of closures this year remains at 3.

(3/25/17)- The 10-year U.S. Treasury bond closed 2016 at the 2.45% level, and even though the fed increased the fed funds rate recently, it closed this Friday at the 2.40% point. Its high mark so far this year is 2.60%, so it certainly has stayed within a narrow trading range this year.

No banks were closed by regulators this week, so the total number of closures this year still stands at 3.

(3/18/17)- There were no bank closures this week by regulatory agencies, so that the number of banks closed this year still stands at 3.

The 10-year U.S. Treasury bond interest rate drifted slightly lower to 2.501% from the previous week’s close of 2.58%

(3/12/17)- As noted in our item dated 7/16/16 below, the interest rate on the 10-year U.S. Treasury bond closed that Friday at the 1.38% level. This past Friday that bond interest rate had risen to the 2.58% mark. That puts the bond at just about the same interest rate it was on 6/13/14.

The Department of Labor’s monthly employment figure for February saw an increase of 235,000 jobs for that month.

No banks were closed this past week, so that figure still stands at 3 for this year.

(3/4/17)- The one-branch Proficio Bank of Cottonwood Heights, Utah became the 3^rd bank closed so far this year, versus the 5 closures that took place all of last year. As of December 31, 2016 the bank had $68.2 million in total assets and $65 million in total deposits.

Its closure will cost the Deposit Insurance Fund (DIF) $11 million.

The 10-year U.S. Treasury bond closed Friday at the 2.49% mark, versus last week’s close at 2.42%

(2/25/17)- The number of bank closures so far this year remains at 2, since none were closed by regulators this week.

The 10-year U.S. Treasury bond closed at the 2.31% level Friday. Slightly lower than the prior week’s close of 2.42%

(2/19/17)- The 10-year U.S. Treasury bond closed at the 2.42% mark Friday, almost exactly the same as the 2.41% mark of the prior week.

There were no banks closed by regulators, so the total number of closures this year still stands at 2

(2/12/17)- Banking regulators did not close any banks this week, so the total number of closures remains at 2 for the year.

The 10-year U.S. Treasury bond closed Friday at 2.41%, virtually unchanged from the prior week’s close of 2.49%.

(2/10/17)- For the last several years the series of items in this article have followed the bank closures that have taken place in the U.S. banking system. On the other side of the ledger we are happy to state that the Federal Deposit Insurance Corp (FDIC) approved the banking applications for two new banks-Blue Gate Bank in Costa Mesa, Calif., and International Bank of Commerce, which was connected to an existing branch acquisition in Oklahoma City, Oklahoma- in the fourth quarter of 2016.

The FDIC, in the last few months, has received applications from 8 groups to open new banks. Prior to the 2 banks that were opened in the fourth quarter of 2016, the FDIC approved 3 applications in a 7 year period of time.

(2/4/17)- Even though the Department of Labor jobs report for the month of January showed the creation of 227,000 new jobs, the 10-year U.S. Treasury bond barely budged this week, since it closed at the 2.49% mark, up from last Friday’s close of 2.48%.

There were no banks closed by financial regulators, so the number of closures remained at 2 for the year.

(1/28/17)- The 10-branch Seaway Bank and Trust Co of Chicago, Ill. became the 2nd bank closed by regulators this year. The bank had $361.2 million in total assets, and $307.1 million in total deposits, as of September 30, 2016. Its closure will cost the Deposit Insurance Fund (DIF) $57.2 million

The 10-year U.S. Treasury bond closed Friday at the 2.48% mark, barely up from the prior week’s close of 2.46%

(1/21/17)- There were no banks closed this week, so the total number of closures remains at 1 for this year.

The 10-year U.S. Treasury bond closed at the 2.46% level, up ever so slightly from last Friday’s close at the 2.41% mark

(1/15/17)- The 4 branch Harvest Community Bank of Pennsville, N.J. became the first banking casualty of 2017 with its closure being announced on Friday. The 4 branches had total assets of $126.4 million, and deposits of $123.8 million. Its closing will cost the Deposit Insurance Fund (DIF) $22.3 million

The 10-year U.S. Treasury bond closed Friday at the 2.38% mark, down a bit from the prior week’s close of 2.41%

(1/9/17)- Banking regulators did not close any banks last week, so the year begins with a clean slate of no closures.

The 10-year U.S. Treasury bond closed Friday at the 2.41% mark, down a tad from the prior week’s close of 2.45%.

(12/31/16)- The final tally for 2016 is in, with the total number of bank closures for the year standing at 5, down from the 8 in 2015, and the 17 in 2014.

The 10-year U.S. Treasury bond closed the year at the 2.45% level, off slightly from last week’s close of 2.54%. One year ago, the 10-year bond was at the 2.24% level.

(12/24/16)- The 10-year U.S. Treasury bond closed this week at the 2.54% mark, slightly down from the prior week’s close of 2.59%. The low point for the bond was in July when it hit the 1.36% level, which was the lowest point in U.S. history.

There were no banks closed by the regulatory bodies, so the number of closures this year still stands at the 5 mark.

(12/18/16)- One year ago the 10-year U.S. Treasury bond was at the 2.15% mark. This past Friday it was at the 2.59% mark. It has risen to that level from the 1.85% close on election eve, which represents quite a jump in a relatively short time frame.

The number of bank closures this year stands at 5, versus the 8 closed last year, and the 17 closed in 2014.

(12/10/16)- All eyes will be on the statement from the fed next Wed. at 2:15 when it issues its pronouncement on interest rates. The 10-year U.S. Treasury bond closed Friday at the 2.46% level as it nudged higher from the previous Friday’s close at 2.39%

No banks were closed this week by regulators, so the number of closures so far this year still stands at 5.

(12/3/16)- The total number of bank closures so far this year remains at 5, versus the 8 that were closed at this point in time in 2015

The rate on the 10-year U.S. Treasury bond closed on Friday at 2.39%, barely budging from the prior week’s close of 2.37%

(11/28/16)- The rate on the 10-year U.S. Treasury bond has increased from 1.85% on election eve up to 2.37% on Friday. On 11/15/15 the 10-year was at 2.23%, so in fact, one year later, it is about at the same level.

No banks were closed by financial regulators so the total number of closures this year remains at 5.

(11/19/16)- The 10-year U.S. Treasury bond’s interest rate continued its upswing this week, and closed at the 2.33% level on Friday. That’s quite a climb that has occurred so far in the month of November.

There were no bank closures this week, so that total still stands at 5 for the year.

(11/12/16)- What a difference a year makes, but that saying is not true for the 10-year U.S. Treasury bond which closed on Thursday at the 2.12% level versus its close on 11/14/15 when it closed at the 2.28% mark. On the other hand that was quite an increase from its close on 11/5/16 at the 1.78% rate.

There were no banks closed this week by financial regulators, so 5 continue to be the total number of closures, so far this year. The banks, bond market and Federal Reserve were all closed Friday in honor of Veterans Day.

(11/5/16)- The October monthly jobs report showed that 161,000 new jobs were created in the month, with a slight uptick in the average hourly worker’s pay, The 10-year U.S. Treasury bond fell back to close Friday at the 1.78% mark, down from last week’s close of 1.84%.

There were no banks closed by regulators, so that number still stands at 5 for the year.

(10/30/16)- The September 3^rd quarter Gross Domestic Products (GDP) came in at 2.9%, and this resulted in the 10-year U.S. Treasu7ry bond moving to the 1.84% level.

No banks were closed by regulators, so the number of closure so far this year still stands at 5.

(10/23/16)- 6 months ago, on 4/17/16, the 10-year U.S. Treasury bond was at the 1.75% mark, not far from its close on 10/21/16 which was at the 1.74% level. A year ago, on 10/17/15 it was at the 2.02% level

No banks were closed by regulators this week, so the total number of closures so far this year still stands at the 5.

(10/16/16)- The 10-year U.S. Treasury bond is edging higher, having closed Friday at the 1.79% mark, up from the 1.71% level it closed at the prior Friday.

No banks were closed by regulators this week, so the number of closures this still stands at 5.

(10/9/16)- Interest rates did nudge up slightly this week, with the 10-year U.S. Treasury bond closing at the 1.71% level, up from last Friday’s close of 1.60%. The September unemployment figure rose to 5% from 4.9%, but this was due to the fact that more people were looking for jobs. There were 156,000 people who found work in September.

No banks were closed by regulators this week, so the number of bank closures this year still stands at 5.

(10/1/16)- There were no banks closed this week by regulators, so the number of closing this year still stands at 5

The 10-year U.S. Treasury bond closed on Friday at the 1.60% mark, virtually unchanged from last week’s close at the 1.61% level

(9/24/16)- Range bound is certainly the term one could use to describe the 10-year U.S. Treasury bond over the past few months. The range covers 1.4% on the downside and 1.8% on the up side. This Friday it closed at 1.61%, slightly off last week’s close of 1.70%

The 5 branch Allied Bank of Mulberry, Arkansas was closed on Friday, making it the 5^th closure so far this year. The 5 branches had total assets of $66.3 million in assets and $64.7 million in deposits as of June 30, 2016. Its closure will cost the Deposit Insurance Fund (DIF) $6.9 million

(9/17/16)- It is now about a month since a fourth bank was closed by regulators, as opposed to the 6 closures that had occurred in 2015, at this point in time.

The 10-year U.S. Treasury bond closed Friday at the 1.70% mark, up slightly from the previous Friday’s close at the 1.61% level. The Fed’s Open Market Committee (FOMC) will meet on Tues. and Wednesday, with a statement that will be issued at 2:15 P.M. on the 22md.

(9/10/16)- With no banks being closed this week by regulators, the total number of closures this year still stands at 4.

The 10-year U.S. Treasury bond closed at exactly the same level it closed at last Friday, namely the 1.61% mark

(9/5/16)- The Federal Deposit Insurance Corp. announced that its deposit-insurance fund (DIF) stood at $77.9 billion at the end of June 2016 and its insurance fund reserve ratio surpassed a critical threshold of 1.15% of its estimated insured deposits. At the end of 2009, the DIF had a $20.9 billion deficit

All banks were required to pay a special premium until the DIF surpassed the 1.15% threshold mandated under the terms of the Dodd-Frank Act. Banks that have less than $10 billion in deposits are considered small banks, and therefore will have smaller premiums to pay to the agency. 93% of the 6,058 banks covered under the program are considered small banks.

The number of banks on the agency’s “problem list” is down to 147, the lowest number in 7 years.

Net income of the 6,058 banks insured by the FDIC rose by $584 million to $43.6 billion in the second quarter of 2016 from $43 billion a year ago

(9/3/16)- There were no banks closed by financial regulators this week, so the number of closures so far this year still stands at 4.

The August employment report showed 150,000 new jobs added that month. The 10-year U.S. Treasury bond closed Friday at the 1.61% mark, which was the same level it closed at last week

(8/27/16)- The 10-year U.S. Treasury bond closed at the 1.61% level on Friday, as opposed to the 2.01% mark that it closed at one year ago. Janet Yellen, head of the Federal Reserve Board spoke at Jackson Hole, Wyo., where she indicated that the fed saw a continuing trend of a gradual improvement in the U.S. economy, warranting at least one more rate increase this year.

The one branch Woodbury Banking Company, of Woodbury, Ga. became the 4^th banking casualty this year. It had $21.4 million in assets, and $21.1 million in deposits, as of June 30, 2016. Its closing will cost the Deposit Insurance Fund (DIF) $5.2 million

(8/20/16)- The 10-year U.S. Treasury bond closed Friday at the 1.58% level, up a tad from last week’s close of 1.51%

There were no bank closures this week, so the total number of banks where regulators acted remained at 3.

(8/13/16)- The 10-year U.S. Treasury bond closed Friday at the 1.51% mark, which was slightly lower than last Friday’s close of 1.57%.

No banks were closed this week so the number of closures still stands at 3 for the year.

(8/6/16)- Once again, no banks were closed this week, leaving the total number of closures at 3, versus the 6 that had been closed at this point in time last year.

The 10-year U.S. Treasury bond closed Friday at the 1.57% level, versus the 2.12% level it closed at this point in time last year

(7/31/16)- The 10- year U.S. Treasury bond sunk to the 1.45% level on Friday, bringing that bond close to the lowest level it has been at in our history. The drop in interest rates correlated to the disappointing news on Friday of the Gross Domestic Product (GDP) number of only a 1.4% rise

No banks were closed in the week, so the total amount of closures still stands at 3 for the year.

(7/23/16)- The Republican party plank, and the it’s presidential candidate, Donald Trump call for the repeal of the Dodd-Frank law, and the restoration of the Glass-Steagall Act, which made it illegal for a bank be both an investment bank and a regular bank.

As shown by the results of the recent stress test that was passed by all 33 of the largest banks in this country, these banks are in the strongest financial statement condition of recent times.

The 10-year U.S. Treasury bond closed the week at the 1.56% mark, just a tad below last week’s close of 1.59%

(7/17/16)- Even though the German 10-year mark auction resulted in that bond moving into the negative interest level (-0.05%) for the first time in its history, the U.S. 10- year bond moved up to the 1.59% mark on Friday, from its prior Friday close of 1.36%.

Once again, no banks were closed this week, so the yearly total of closed banks this year still stands at 3.

(7/14/16)- The Federal Reserve’s examination of the nation’s 33 largest banks showed that all of them would remain in fairly good health (well above minimum regulatory requirements) even in a recession

A high unemployment rate, and even if interest rates turned negative, and the resulting loss of about $520 billion, would not result in any of the 33 banks failing. Under the terms of the Dodd-Frank Act. the banks had to increase their reserves.

The banks will be allowed to increase their shareholders’ dividends and increase their share buyback programs, and this could be happening when the financial institutions announce their second quarter earnings.

(7/9/16)- Even though June’s new job number. as reported by the U.S. Department of Labor, showed a healthy figure of 287,000, the 10-year U.S. Treasury bond closed the week at a new all-time low of 1.36% vs. last week’s close of 1.38%

No banks were closed by regulators, so the total number of closures still stands at 3.

(7/3/16)- The U.S. 10-year Treasury bond hit a new all-time low early this past Friday morning at the 1.38% mark, and closed at an unprecedented 1.45% level, off last week’s close of 1.57%.

No banks were closed by regulators, so the total number of closures still stands at 3.

(6/26/16)- England voted in favor of exiting the European Union, and the U.S. Treasury market responded by sending the 10-year bond down to the 1.57% level, which is close to the all-time low set at 1.40% in the summer of 2012. Please keep in mind that was close to last Friday’s close of 1.61%

No banks were closed by regulators so that count stands at 3 closures so far in 2016.

(6/24/16)- It is going to be interesting to see what effect the “Brexit” vote will have on U.S. interest rates. The 10-year U.S. Treasury bond closed on Thursday at the 1.71% level, up from last Friday’s 1.61% mark.

We will give you the level it closes at tomorrow, when the results of the British vote will be reported.

(6/18/16)- The 10-year U.S. Treasury bond closed Friday at the 1.61% mark, virtually unchanged from the prior week’s close of 1.64%. The 10-year bond stood at the 2.38% rate one year ago.

Banking regulators did not close any banks this week, so the total number of closures this year still stands at 3, versus the 5 that had been shut down at the same point in time in 2015.

(6/14/16)- As interest rates tumble around the world, the low point for the 10-year U.S. Treasury bond was the 1.401% level it hit in the summer of 2012. The 10- year German mark bond hit the new low for it of 0.02% while the 10-year Japanese yen bond continues to be at a negative interest rate.

Mario Draghi of the ECB has instituted a stimulus package in the same vein as our Federal Reserve did when it purchased billions of dollars of bonds for several years as it tried to move our economy out of the recession of 2008.

(6/12/16)- The 10-year U.S. Treasury bond closed Friday at the 1.64% mark, which brings it back down to the lows it hit in February of this year. For comparative purposes the 10-year German mark bond is at the 0.03% rate and the Japanese 10-year yen is over into the negative territory.

Banking regulators did not close any banks this week, so the number of closures remains at the 3 mark for 2016.

(6/9/16)- Net income for the 6,122 banks covered under the terms of the Federal Deposit Insurance Corporation (FDIC) dropped $765 million to $39.1 billion, in the first quarter compared to a year ago, according to data released by the agency. The year-over-year drop was the first since the end of 2014.

Part of the decline was due to a $4 billion increase in provisions for potential loan losses, and a $2.2 billion drop in trading income, along with a decline in income from asset servicing.

Revenues rose by 2.15% from the 2015 period to $173 billion.

The results for the 5,664 community banks in the system were better, with an increase of 7.4% for the 2015 period to $173 billion. Their net operating revenues totaled $22.2 billion, up 6.9% from the prior year.

s

(6/6/16) With the Labor Department’s new jobs report showing a disappointing 38,000 for the month of May, the 10-year U.S. bond slumped back down to the 1.70% mark on Friday, from last week’s close of 1.85%.

No banks were closed this week by financial regulators, so the number of closures so fat ibis year sstill stands at 3.

(5/28/16)- The number of bank closures remained at 3, with none being closed this week.

The 10-year U.S. Treasury bond closed at the same level it did the previous Friday, namely at 1.85% Economists and stock market followers will be awaiting this coming Friday’s unemployment/new jobs numbers when they are released by the Labor Department, covering the month of May to get a better fix on how the economy is faring.

(5/21/16)- Several economic data numbers came in this week showing an improving economy, and so the 10-year U.S. Treasury bond nudged up to the 1.85% level at Friday’s close.

There were no bank closures this week, so that number remains at the 3 mark.

(5/14/16)- The 10-year U.S. Treasury bond closed Friday at the 1.70% mark, down from last week’s 1.78% level, and very close to the all-time low of 1.56%.

There were no bank closures this week, so that figure for closures this year remains at 3. The Fed’s Open Market Committee (FOMC) will not be meeting again until Jine.

(5/8/16)- The 6-branch First Corner Stone Bank, King of Prussia became the 3^rd bank closed this year by regulators. As of March 31, 2016 the bank had total assets of $103.30 million and deposits of $101.0 million. Its closure will cost the Deposit Insurance Fund $10.8 million.

The 10-year U.S. Treasury bond closed at 1.78%, slightly below the previous Friday closure of 1.81%

(4/30/16)- The 4-branch Trust Company Bank, Memphis, TN became the 2^nd bank closed by financial regulators this year. As of December 31, 2015 the bank had $20.7 million in assets and $20.3 million in deposits. Its closing will cost the Deposit Insurance Fund (DIF) $7.2 million.

The 10-year U.S. Treasury bond closed Friday at the 1.81% level.

(4/28/16)- The 2-day meeting of the Federal Open Market Committee (FOMC) concluded yesterday with the statement that was included at the end of the meeting. The statement said that the committee decided to keep its key7 interest rate unchanged. Foreign and domestic economies, while improving, did not warrant any changes at this time. No timelines were set for any changes.

The bond market reacted by sending the 10-year U.S. Treasury bond down to the 1.85% level, from the 1.91% level that it had been trading at prior to the announcement. That note had been trading slightly above the 2% mark at the beginning of the year.

We will not know if there were any banks closed this week until Fri at 7pm when the FDIC publishes its weekly announcement on bank closures.

(4/24/16)- The 10-year U.S. Treasury bond nudged up slightly this week, closing Fri. at the 1.89% level, up from last week’s close of 1.75%

Banking regulators did not close any banks this week, so that total remains at 1 closure so far this year.

(4/17/16)-With its closing Friday at 1.75% the 10-year U.S. Treasury bond is almost exactly where it was 2 months ago. Looking at the year as a whole, it has moved slightly down from its 2.03% level at the beginning of 2016.

Banking regulators did not close any banks this week, so the total number of closures still stands at 1 for 2016.

(4/10/16)- No banks were closed this week by banking regulators, so the number of closures so far this year still stands at 1, versus the 8 banks that were closed last year by officials.

The 10-year U.S. Treasury note closed on Friday at the 1.72% level versus the 1.78 % mark the prior week.

(4/2/16)- The total number of bank closures this year remains at one, with none having been closed this past week.

The 10-year U.S. Treasury note began the year at slightly over the 2% mark, and this Friday it closed at the 1.78% level.

(3/27/16)- Banking regulators did not close any banks this week, so the total number of closures so far this year stands at 1.

The 10-year U.S. Treasury note closed on Thursday at 1.90%, slightly up from the prior week’s closure at 1.87%.

(3/20/16)- The 2 branch North Milwaukee State Bank, of Milwaukee, Wis. became the first banking casualty of 2016. The bank had $67.1 million in total assets and $61.5 million in total deposits as of December 31, 2015. Its closing will cost the Deposit Insurance Fund (DIF) $9.6 million.

The 10-year U.S. Treasury note closed Friday at the 1.87% level, or just about at the same level as the prior week’s close.

(3/6/16)- The interest rate on the 10-year U.S. Treasury note did increase this week, closing at the 1.88% ,mark, up from last week’s close of 1.76%. New jobs created in February showed an increase of 242,000, according to figure from the U.S. Department of Labor. Revised prior months numbers showed an increase of an additional 30,000 workers.

Financial regulators did not close any banks, so the number of bank closures this year remained at zero.

(2/27/16)- No banks were closed by financial regulators this week, and the 10-year U.S. Treasury note closed Friday at the 1.76% level, having barely moved from the previous Friday close of 1.74%. The U.S. Department of Labor will release the February unemployment number at 8:30 a.m. on Friday morning, and let’s see if that figure can move interest rates.

(2/20/17)- Another week goes by with minimal movement from the 10-year U.S. Treasury note which closed at the 1.74% level on Friday, down a notch from the prior week’s close of 1.76%. Banking regulators did not close any banks this week, so 2016 continues its streak of no banks closed so far this year.

(2/13/16)- It is quite surprising that in spite of the problems in the energy business and the European banking industry, another week has passed and no banks have been closed, so far, this year.

The 10-year U.S. Treasury note closed the week at the 1.76% mark, which is very close to its all-time low.

(2/6/16)- Banking regulators did not close any banks this week so that 2016 continues with none having been closed so far this year.

The 10-year U.S. Treasury note closed at the 1.85% mark, which means it is down slightly from last Friday’s closing of 1.92%

(1/30/16)- The month of January, 2016 has a clean slate, since there were no bank closings this month by financial regulators.

Signs of economic weakness took its toll on the 10-year U.S. Treasury note, with the interest rate on it dropping to the 1.92% mark on Friday. It had not broken below the 2% level since October, 2015.

(1/23/16)- 2016 continues to have a clean slate, with financial regulators not closing any banks this week.

The 10-year U.S. Treasury closed the week at the 2.05% level, basically unchanged from last Friday’s close of 2.03%

(1/17/16)- Interest rates moved lower this week, with the 10-year U.S. Treasury note closing Friday at the 2.03% level, down from last week’s close of 2.27%.

No banks have been closed, so far this year, by banking regulators.

(1/10/16)- Even though the December new jobs number came in at plus 292,000, the 10-year U.S. Treasury note saw the interest rate drop to the 2.13% level, down from last Friday’s 2.27% mark.

Financial regulators did not close any banks this week, so that none have been closed so far this year.

(1/2/16)- No banks were closed by financial regulators, so the total number of banks closed in 2015 stood at 8.

The 10-year U.S. Treasury note closed the week at the 2.27% level.

(12/28/15)- As we head into the final week of the year, the 10-year U.S. Treasury note closed Friday at the 2.24% level, versus the 2.27% mark that it closed at on December 31, 2014.

Banking regulators did not close any financial institutions this week, so that number stayed at a total of 8 closed this year versus the- 17 that were closed last year.

(12/20/15)- Even though Fed Reserve Chairwoman Janet Yellen announced on Wed. that the fed would be increasing interest rate by 0.25%, the rate on the 10-year U.S. Treasury note closed this week at 2.19%, up just a bit from last Friday’s close of 2.15%.

Banking regulators did not close any banks this week so that number continues to stand at 8 for this year, versus the 16 that were closed at this same point in time last year.

(12/16/15)- While the Fed’s Open Market Policy Committee is expected to announce an interest rate increase on Wed., December 16, the 10-year U.S. Treasury note declined to the 2.15% level on Friday, from last week’s 2.28% mark.

Banking regulators did not close any banks this week, so the number of closures still stands at 8 this year.

(12/5/15)- The 10-year U.S. Treasury note closed the week at the 2.28% level, up slightly from the prior week’s 2.20% level. Thus it hardly budged even though the November jobs report showed an increase of 221,000 jobs.

Once again there were no bank closures this week, so that total remains at 8.

(11/29/15)- “Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $40.4 billion in the third quarter of 2015, up $1.9 billion (5.1 percent) from a year earlier. The increase in earnings was mainly attributable to a $3.2 billion decline in noninterest expenses, as itemized litigation expenses at large banks were $2.7 billion lower than a year ago. Financial results for the third quarter of 2015 are included in the FDIC's latest Quarterly Banking Profile.

Of the 6,270 insured institutions reporting third quarter financial results, more than half (58.9 percent) reported year-over-year growth in quarterly earnings. The proportion of banks that were unprofitable during the third quarter fell to 5 percent, down from 6.6 percent a year earlier and the lowest since the first quarter of 2005”.

There were no banks closed by regulators this week, and the 10-year U.S. Treasury note closed at the 2.20% level on Friday

(11/21/15)- The 10-year U.S. Treasury note closed Friday at 2.23%, which was almost where it had closed at the previous Friday at 2.28%. A year ago, on November 21, 2014, the same note was at 2.31%

Once again this week, there were no banks closed this week by financial regulators, so the number of closures so far this year remains at 8, versus the 16 that had been closed at this same point in time last year.

(11/14/15)- The media has been giving a lot of space and time to the prediction that the Fed will increase interest rates at its next Open Policy Committee meeting in mid-December, but the scoreboard shows that the interest rate, as of the market close of Friday for the 10-year U.S. Treasury note was 2.28%, down a smidgen from the previous Friday close of 2.32%.

No banks were closed by regulators this week, so the number of closures for the year remains at 8 versus the 16 that were closed at this same point in time in 2014

(11/8/15)- The unemployment level fell to the 5% mark, and the new jobs created rose to 271,000 for the month of October.as reported on Friday by the Labor department. This led to the 10-year U.S. Treasury note to rise to 2.32% from last Friday’s close of 2.15%.

No banks were closed by regulators, so that number continues to stand at 8.

(11/2/15)- A month has now elapsed since the last bank closures, so that number stays at 8, versus the 16 that had been closed at this same point in time last year.

The 10-year U.S. Treasury note closed Friday at the 2.15% mark, so the narrow trading range for that note continues for this year. Agreement was reached in Congress on a 2-year budget deal, and the president is expected to sign the measure.

(10/25/15)- The 10-year U.S. Treasury note closed at 2.08% on Friday, so it continues to trade within a very narrow range this year. It had closed at 2.27% on December 27, 2014, and at 3.03% on December 31, 2013.

Banking regulators did not close any banks this week, so that number remains at 8 closures so far this year, versus the 16 that had been closed at this point in time in 2014

(10/17/15)- The 10-year U. S. Treasury note closed Friday at the 2.02% level, little changed from last week’s close of 2.10%.The auction for the 1 month and 3 month U.S. Treasury bills resulted in both being at 0.00%.

No banks were closed by regulators this week, so that number remains at 8.

(10/11/15)- The 10-year U.S. Treasury note closed the week at the 2.1% rate, up from last Friday’s close of 1.95%. Six months ago that note closed at the 1.95% level, so it has not really moved much in that period of time.

No banks were closed by regulators, so the number of closures so far this year stands at 8, versus the 22 that had been closed at this same point in time last year.

(10/3/15)- Two banks were closed this week by regulators, bringing the total number of closures for this year up to 8

The 1 branch Hometown National Bank of Longview, Washington had $4.9 million in total assets and $4.7 million in total deposits, as of June 30, 2015. Its closing will result in a $1.6 million loss for the Deposit Insurance Fund (DIF).

The 7 branch Bank of Georgia, Peachtree, Ga. had $294.2 million in total assets and $280.7 million in total deposits, as of June 30, 2015. Its closing will result in a $23.2 million loss for the Deposit Insurance Fund (DIF).

The 10-year U. S. Treasury note closed the week at the 1.95% level.

(9/27/15)- Another stand-off week on the interest rate front with the 10-year U.S. Treasury note closing Friday at the 2.16% level compared to last week close of 2.13%

No banks were closed by regulators, so that number continued to stand at 6, versus the 14 that had been closed at this same point in time last year.

(9/20/15)- The Fed Open Market Committee (FOMC) announced on Thurs. that it would leave interest rates at zero percent, and that’s been reflected in the slight trading range that the 10-year U.S. Treasury note has traded in these last few months. It closed at the 2.13% level this week, compared to last Friday’s close of 2.18%.

The number of banks closed by regulators remained at 6, so far this year, compared to the 14 that had been closed at this same point in time last year, and 22 in 2013.

(9/12/15)- Even though the stock market has shown a lot of volatility, the same cannot be said of the 10-year U.S. Treasury note, which closed on Friday at 2.18%, virtually unchanged from last weeks close of 2.17%.

No banks were closed this week by regulators, so that number remains at 6 closures so far this year versus the 14 that had been closed at this same point in time last year

(9/8/15)- Profits at the 6,348 U.S. banks that are under the jurisdiction of the Federal Deposit Insurance Corporation rose by 7% for the second quarter this year to $43 billion from the same period a year ago. That is the highest number on record, although it does not take into account the effect of inflation.

Banks increased their loan balance by $185 billion, or 2.2% compared to the first quarter of this year, the highest quarterly increase since 2010.

The amount of loans 90 days or more past due dropped for the 21^st straight quarter. This was the second quarter in a row where all four major categories –commercial, real estate, residential, business and consumer-showed growth at the same time. This is the first time this has occurred since 2008.

(9/5/15)- The August unemployment rate dropped to 5.1% from 5.3% in July, but the 10-year U.S. Treasury note remains locked into a narrow trading band these last few months with it closing at 2.12%, down a notch from last Friday’s close of 2.17%.

No banks were closed this week by regulators, leaving the number of closures so far this year at 6, versus the 14 that had been closed at this same point in time last year.

(8/2915)- The narrow range-band within which the 10-year U.S. Treasury note trades continued this week, since it ended Friday at the 2.17% level, up from last Friday’s closing mark of 2.05%.

The string of no bank closing continued, so that the number of closures this year remains 6, versus the 14 that had been closed at this point in time last year.

(8/22/15)- You have to go back to Friday, April 21, when the 10- year U.S. Treasury note closed at 1.91% to find when that note last closed the week close to this week’s close of 2.05%

Once, there were no bank failures this week so that number still stands at 6 versus the 14 that had been closed at this point in time last year

(8/17/15)- Another week has elapsed with no banks being closed, so the total number of closures for the year still stands at 6, versus the 14 that had been closed at this point in time last year.

The 10-year U.S. Treasury note closed at 2.20%, versus the 2.17% mark that it closed at last Friday

(8/8/15)- On 5/2/15 the 10-year U.S. Treasury note closed at 2.12%. Here it is, roughly 3 months later, and that same note closed at 2.17% on Friday. In the last 3 months, in spite of all the media hoopla about the fed increasing interest rates nothing has happened. Janet Yellen, head of the fed has testified before the Senate and the House that the fed will increase rates this year, so the greater likelihood is that it will happen, but even that is not a sure thing.

No banks were closed by regulators this week, so the number of closures still stands at 6, versus the 14 that had been closed at this point in time last year.

(8/2/15)- With no banks being closed this week the number of closures still stands at 6, at the end of 7 months so far this year, as opposed to the 14 that had been closed at this same point in time last year

The 10-year U.S. Treasury note closed on Friday at the 2.20 % mark, slightly down from last Friday’s close of 2.27%.

(7/26/15)- No banks were closed this week by regulators so the total number of them closed this year still stands at 6, versus 14 that had been closed at this same point in time last year.

The 10-year U.S. Treasury note closed on Friday at the 2.27% mark.

(7/22/15)- On May 23^rd the 10-year U.S. Treasury note closed at 2.21`%. It closed at 2.35% yesterday, which was the same level it had closed at on Friday. Thus, it has moved up less than 0.15% in 2 months. There are many financial experts who use this figure as a key in determining what the Fed Open Policy Committee will when, as and if it increases interest rate this year as Chairwoman Janet Yellen has indicated.

We will keep tracking this number for our viewers, but please keep in mind that at the end of 2013 this note was at the 3% mark.

(7/18/15)- The 10-year U.S. Treasury note closed on Friday at the 2.35% level, so the narrow trading range for it over the last few weeks continues, even though Fed Chairwoman Janet Yellen continues to talk about raising the fed fund rate before the end of the year.

No banks were closed this week, so the total number of closures remains at 6 for this year, compared to the 13 closures that took place at this same point in time in 2014.

(7/12/15)- The 10-year U.S. Treasury note closed above the 2.4% mark on Friday, as it continues to inch its way higher. Janet Yellen, head of the fed was quoted as saying that the agency would be increasing the fed fund rate sometime before the end of the year. She did not say when, or by how much, but when Janet talks, she will get what she wants. It will not be increased by much, but it will happen.

The 2-branch Premier Bank of Denver Colorado became the 6^th failed bank this year, versus the 12 that had been closed at this same point in time last year. As of March 31, the bank had total assets of $31.7 million, and total deposits of $29.6 million. Its closing will cost the deposit Insurance Fund $4.4 million

(7/4/15)- The 10-year U.S. Treasury note closed on Friday at 2.39%. It had closed at 2.27% at the end of 2014, so with all the media hype about interest rates rising, they sure have not gone up other than a tad in the first 6 months of 2015.

No banks were closed by financial regulators this week, so that total still stands at 5, versus the 12 that had been closed at this same point in time in 2014.

(6/27/15)- There have been no bank closures since Friday May 8, so the number of closures this year is still at the 5 mark versus the 12 that had been closes as of June 29, 2014.

The 10-year U.S. Treasury note closed Friday at the 2.45% level, up a tad from last week’s number at 2.35%

(6/20/15)- No banks were closed this week, and none have been closed since the week of May 10. That leaves the total number of closures at 5 versus the 12 that had been closed at this point in time last year.

The 10-year U.S. Treasury note closed at 2.35%, down from last Friday’s close of 2.38%.

(6/13/15)- Interest rates barely budged this week, with the 10-year U.S. Treasury note nudging up to the 2.38% mark, from last week’s close on Friday of 2.35%.

There were no banks closed this week, so that total stands at 5, compared to the 9 closed at this same point in time in 2014.

(6/6/15)- The big news item on the economic front this week was that May saw an increase in new jobs of 280.000, even though the unemployment rate increased from 5.4% to 5.5%. The bond market reacted accordingly; with the 10-year U.S. Treasury note increasing to the 2.35% level from last Friday’s closing level of 2.095%.

There were no banks closed by regulators on Friday, leaving the total number of closures so far this year at 5, versus the 9 that had been closed at this point in time in 2014.

(5/31/15)- No banks were closed this week by regulators, so the number of banking closures so far this year still stands at 5, versus the 9 that had been closed at this point in time last year.

The 10-year U.S. Treasury note closed at 2.095%, down from last Friday’s close of 2.21% as of 5/23.

5/23/15)- Once again, no banks were closed this week leaving the total number of closures so far this year at 5, versus the 8 that had been closed last year at this date.

The 10-year U.S. Treasury note closed at 2.215%, up from last Friday’s close of 2.14%

(5/18/15)- There were no banks closed by regulatory agencies this week, so the number of closures so far this year still stands at 5, versus the 7 that had been closed at this point in time last year.

It is as if we are within a time warp, with the 10-year U.S. Treasury note closing at the 2.14% level, exactly where it had closed at the week before.

(5/10/15)- The one-branch Edgebrook Bank of Chicago, Ill., became the 5^th banking casualty so far this year, versus the 7 that had been closed at this point in time in 2014. The bank had $90 million in assets and $90 million in deposits, as of March 30^th, 2015. Its closure will cost the Deposit Insurance Fund (DIF) $16.8 million.

The 10-year U.S. Treasury note closed at the 2.14% level, which was just about the same level it had closed at on 3/15/15.

(5/2/15)- The 10-year U.S. Treasury note inched higher this week, closing on Friday at 2.12%. That was almost exactly the level that it had closed at on 3/15/15.

No banks were closed by regulators this week, so the total number of closures so far this year remains at 4, versus the 6 closed at this same point in time in 2014.

(4/25/15)- It’s as if the 10-year U.S. Treasury note is in ground hog week, since it closed at 1.91%, which was virtually the same level as the prior week.

There were no banks closed this week, so that the total number of closures this week remained at 4 versus the 6 that had been closed at this point in time in 2014.

(4/20/15)- In the face of all the media guessing as to when the fed will raise interest rates, the 10-year U.S. Treasury note declined to 1.85% on Friday, ,therefore decreasing another notch from the prior week’s 1.95% level.

No banks were closed by financial regulators, so that the number of bank closures this year stands at 4 versus the 5 that had been closed at this point in time last year.

(4/11/15)- The streak continues, since there were no bank closures this week, leaving that total at 4 versus the 5 that had been closed at this point in time in 2014. The 10-year U.S. Treasury note closed at the same level as the week before, namely 1.95%.

(3/29/15)- For the 4^th week in a row, banking regulators did not close any banks this Friday. The 10-year U.S. Treasury note closed at 1.95%, up just a tad from the prior week’s 1.91% level.

(3/22/15)- There were no banks closed this week by financial regulators, so the total number of closures still stands at 4, versus the 5 that had been closed at this same point in time in 2014.

The 10-year U.S. Treasury note closed at 1.91% on Friday, down from the previous Friday close of 2.11%. The Fed’s Open Policy Meeting statement dropped the word “patient” indicating that it would take a wait and see attitude before increasing interest rates.

(3/15/15)- There were no banks closed this week by financial regulators, leaving the total number of closed institutions at 4, versus the 5 that had been closed, at his point in time last year.

The 10-year U.S. Treasury note closed at 2.11% on Friday, down slightly from the 2.24% level the prior week. The Fed’s Open Policy Committee meets Tues. and Wed., with no appreciable increase in immediate interest rates expected.

(3/8/15)- Banking regulators did not close any banks this week, so the total number of closures this year remains at 4, versus the 5 banks that were closed at this point in time last year. All 31 large banks passed the “feds stress test”, which was the first time that they all received a passing grade for the test.

The 10-year U.S. Treasury note closed Friday at the 2.24% mark, up from the 2.11% level it closed at last Friday.

(3/1/15)- The 26- branch Doral Bank, San Juan, Puerto Rico, was closed Friday by the Office of the Commissioner of Financial Institutions of Puerto Rico, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Banco Popular de Puerto Rico, Hato Rey, Puerto Rico, to acquire the banking operations, including all the deposits, of Doral Bank.

It was the 4^th bank closed by regulators this year.

Doral had $5.9 billion in total assets and $4.1 billion in total deposits. The FDIC estimated that the failure will cost the Deposit Insurance Fund $748.9 million. The 10-year U.S. Treasury note closed at 2.0% on Friday.

(2/27/15)- Profits declined for the U.S. banking industry in 2014 for the first time in five years, according to figure released by the Federal Insurance Deposit Corporation. In the latest of its quarterly reports on health of the banking industry, it noted that the vast majority of the nation’s 6,509 banks increased earnings for 2014, but 7 of the 10 largest banks posted lower earnings than in the previous year, causing the industry earnings, as a whole to decline.

The overall decline in revenues was due mainly as a result of reduced revenue from mortgage related activities, while litigation costs and suit settlements negatively affected their earnings.

For the 12-month period ending December 31, 2014, total loans and leases outstanding rose by 5.3%, the highest growth rate for a 12-month period since mid-2008. Mortgage-securitization and servicing was down about 35%, or $9.1 billion, for the year. Litigation expenses were up $6.5 billion.

No banks were closed the week ended Friday 2/20/15 by financial regulators leaving the total number closed at 3. The 10-year U.S. Treasury note closed at the 2.11% level on Friday, as the interest rate inches higher over the last 3 weeks.

(2/14/15)- The 8-branch Capital City Bank and Trust Co. of Atlanta, Ga. became the 3^rd bank closed so far this year. As of December 31, 2014, Capital City had $272.3 million in total assets and $262.7 million in total deposits. The FDIC estimated that the failure will cost the Deposit Insurance Fund $88.9 million.

The 10-year U.S. Treasury note closed at the 2.09% level on Friday, as the interest rate inches higher over the last 2 weeks.

(2/7/15)- No banks were closed by regulators this week, leaving the total number of closures so far this year at 2, compared with the 3 that had been closed at this same point in time last year.

The 10-year U.S. Treasury note closed at 1.938% on Friday, as interest rates rose slightly this week.

(1/31/15)- Banking regulators did not close any banks this week, so at the end of the first month of 2015 that total stands at 2, which is the same total of closing as of the same point of time in 2014. Financial experts are now predicting that because of the low price of oil, the energy industry has become a catalyst to an increasing number of bank failures.

The 10-year U.S. Treasury note closed on Friday at 1.675%, which was the low for that maturity in May, 2014.

(1/24/15)- The 2-branch Highland Community Bank of Chicago, Illinois became the 2^nd bank to fail in 2015. Financial experts are looking for several more casualties among U.S. banks because of the sharp drop in the price of oil creating financial problems in the oil industry. With that industry hurting, many of their loans are expected to go into default.

As of December 31, 2014, Highland had $54.7 million in total assets and $53.5 million in total deposits. The FDIC estimated that the failure will cost the Deposit Insurance Fund $5.8 million. The 10-year U.S. Treasury note closed at the 1.81% level on Friday

(1/17/15)- The 3 branch First National Bank of Crestview, Crestview, CA. became the first banking casualty of 2015. As of September 30, 2014, the bank had a total of $79.7 million in assets and $78.6 million in deposits. Its failure will cost the Deposit Insurance Fund $4.4 million.

The 10-year U.S. Treasury note closed on Friday at 1.81%, bringing it close to its May 2013 closing low of 1.67%

(1/11/15)- The 10-year U.S. Treasury note closed on Friday below the 2% mark, at the 1.917% rate. This downward drift of interest rates flies in the face of the conventional wisdom that interest rates will rise this year.

Once again, no banks were closed this week, with none having been closed since the week of 12/21/14.

(1/4/15)- There were no bank closures in the first week of the year, and the 10-year U.S. Treasury note closed on Friday at the 2.11% mark. At this point in time last year, the note stood at 3.03%. The 30-year U.S. Treasury bond closed on Friday almost at the 2.75% level.

(12/27/14)- The final tally is in for the number of banks closed by financial regulators in 2014, and that number is 17, while 24 banks were closed by banking regulators in 2013, as opposed to the 51 closed in 2012 and the 90 that were closed in 2011.

The 10-year U.S. Treasury note closed at 2.27% on Friday, versus the 3.03% that it closed at on December 31, 2013.

(12/21/14)- The 2-branch Northern State Bank of Mankato, Minn. became the 17^th banking casualty of 2014. As of September 30, 2014 the bank had $18.8 million in assets and $18.2 million in deposits. Its failure will cost the deposit Insurance Fund $5.9 million.

The 10-year U.S. Treasury note closed at 2.17% on Friday

(12/13/14)- Banking regulators did not close any banks this week, so the total number of closures for the year remains at 16, versus the 24 that were closed at this point in time last year.

The 10-year U.S. Treasury note closed at 2.1%, bringing it to about the same level it was at on 11/30/14, while at the same time dropping off sharply from last week’s level

(12/8/14)- No banks were closed by financial regulators this week, so that total remains at 16, versus the 23 that were closed at this point in time last year.

The 10-year U.S. Treasury note closed at 2.31%, bringing it to the exact same level it was at 2 weeks ago.

(12/2/14)- Revenue for the 6,589 banks insured by the Federal Deposit Insurance Corporation (FDIC) rose 4.8% in the third quarter from a year ago to $171.3 billion, according to the latest data issued by the agency. Net income grew by 7.3% to $38.7 billion, the fourth-highest figure on record.

Loans outstanding rose 4.6% from a year ago, with growth being strongest in small banks, increasing by 8%. A small bank is defined as one with less than $1billion in assets

(11/30/14)- The status quo continues with no banks having been closed this past week, so that number continues to stand at 16 for this year, versus the 23 that were closed at this point in time in 2013.

The 10-year U.S. Treasury note dropped down to 2.19%, and thus broke the trading range it has been in for the last few months, compared to the 2.31% that it was at a week ago Friday.

(11/22/14)- On September 28, we wrote “The 10-year U.S. Treasury note continues to hover between the 2.35 % to 2.65 % mark, with it closing at 2.54 % on Friday. It did hit a low mark of 2.34 % at its close on 8/17/14, and a high of 2.61% on 9/16/14. This tight bound range that it has been in is indicative of the tug of war that has been on between the interest rate bulls and bears.” The tug of war between the financial experts who say interest rates will rise, as opposed to those who say it will fall, continues to be a standoff.

The 10-year U.S. Treasury note closed at 2.31% on Friday, which is exactly where it was last Friday.

No banks were closed this week by financial regulators, leaving the total amount of closures this year at 16, versus the 23 that had been closed at this point in time last year.

(11/16/14)- No banks were closed by regulators this week, so the total number of closures still stands at 16, versus the 23 that had been closed at this point in time last year.

The 10-year U.S. Treasury note closed on Friday at 2.32%, which is almost exactly what it closed at 3 months ago.

(11/11/14)- Once again, there were no banks closed this week by regulators leaving the total amount at 16, compared to the 23 that had been closed at this point in time in 2013.

The 10-year U.S. Treasury Note closed at 2.31% on Friday, versus the 2.27% that it closed at last the week before.

(11/2/14)- There were no bank closures this week leaving that total at 16 this year. The Fed’s Open Market Policy Committee announced that it was ending its $85 trillion Quantative Easing Program, which was down to its last $15 trillion in October.

The 10-year U.S. Treasury Note closed at 2.34%, up from the previous Friday close of 2.27%

(10/25/14)- The Office of the Comptroller of the Currency closed the 2 branch National Republic Bank of Chicago, Ill., making it the 16^th banking casualty this year versus the 25 banks that had been closed at this point in time last year. The bank had $954.4 million in total assets and $915.3 million in total deposits, as of June 30, 2014.

The FDIC estimated that the Deposit Insurance Fund would lose $111.6 million as a result of the closing.

The 10-year U.S. Treasury Note closed at 2.27% on Friday, versus the 2.20% that it closed at last Friday

(10/19/14)- The 5-branch NBRS Financial, Rising Sun, MD, became the 15^th banking casualty of the year versus the 22 that had been closed at this same point in time last year. As of June 30, 2014, NBRS had $188.2 million in total assets, and $183.1 million in total deposits. The FDIC estimates its failure will cost the Deposit Insurance Fund $24.3 million.

The 10-year U.S. Treasury stood at 2.20% at Friday’s close, versus the 2.60% that it was a year ago, and the 2.33% that it closed at last Friday. Thus. in spite of the ending of” quantative easing”, interest rates continue to head lower.

For the fifth year in a row, the number of U.S. bank branches has fallen, and now is at its lowest level since 2005. The drop in number of branches last year was the biggest in at least two decades, according to figures released by the FDIC.

The number of branches in the U.S. dropped to 94,725 as of June 30, down 1,634, or 1.7% from a year earlier and down 4,825 from the peak in 2009, according to the data.

Banc of America saw the biggest decline in branches to 5,094 from 5,399 the year before. Wells Fargo & Co. was the only one of the four biggest banks to show an increase in the number of branches from 6,293 to 6,310.

(9/28/14)- The 10-year U.S. Treasury note continues to hover between the 2.35 % to 2.65 % mark, with it closing at 2.54 % on Friday. It did hit a low mark of 2.34 % at its close on 8/17/14, and a high of 2.61% on 9/16/14. This tight bound range that it has been in is indicative of the tug of war that has been on between the interest rate bulls and bears.

No banks were closed this week, leaving that total ay 14, so far this year, versus the 22 that had been closed at this point in time last year.

(9/22/14)- No banks were closed this week by regulators, so the total number of bank closures so far this year remains at 14 versus the 22 that had been closed at this point in time in 2013.

The 10-year U.S. Treasury note (we apologize to our viewers for previously calling it a bond) closed at 2.59%, down from last week’s closing price of 2.61%.

(9/16/14)- A report released by the Federal Deposit Insurance Corporation for the 2^nd quarter of 2014 ended June 30, showed that U.S. banks increased lending by the largest percentage since the financial crisis began in 2008. Banks’ loans and lease balance rose to $8.11 trillion, a 2.3% increase over the first quarter in 2014 and the largest quarter-over-quarter increase since the end of 2007.

It was the first time U.S. banks’ lending exceeded $8 trillion, as they increased lending for construction loans, agricultural loans, credit-card balances and auto loans. Mortgage lending was up from the prior quarter but down from the year-ago period.

No banks were closed by regulators this week, so the total number of closures, so far this year, still stands at 14, versus the 20 that had been closed, at this same point in time in 2013.

The 10-year U.S. Treasury bond closed on Friday at 2.61%, as opposed to the 2.35% it had been at about 2 months ago.

(8/30/14)- Another week has gone by without there being any bank closures, so that the 14 closed this year compares with the 20 that had been closed as of September 4, 2013.

The 10-year U.S. Treasury Note closed on Friday yielding 2.343%, which is slightly lower that the 2.40% mark that it closed at last Friday.

(8/24/14)- Interest rates inched a tad higher this week with the 10-year U.S. Treasury bond closing at 2.40% on Friday.

Once again, no banks were closed this week, so that total remains at 14.

(8/17/14)- No banks were closed by regulators this week, leaving the total number of closures so far this year at 14. That is the same number of banks that were closed at this point in time in 2013.

The 10-year U.S. Treasury bond closed on Friday at 2.345%, so interest rates are continuing to drift lower from the 3% mark it was at the beginning of the year.

(8/9/14)- The 10-year U.S. Treasury bond closed at the 2.41% on Friday, so its fluctuation has been minimal the last few weeks. No banks were closed this week, so that casualty list remains at the 14 mark, which matches the number of banks that had been closed at this point in time in 2013.

(7/27/14)- The 3-branch Green Choice Bank, of Chicago, Illinois, became the 14^th banking casualty of the year. The number of bank closures is therefore two more than what it was at this same point in time last year. As of March 31, 2014, Green Choice had $72.9 million in total assets, and $71 million in total deposits. The FDIC estimates its failure will cost the Deposit Insurance Fund $14.2 million.

(7/20/14)- The 2 branch Eastside Commercial Bank of Conyers, Georgia became the 13^th banking casualty of the year. At this same point in time last year only 12 banks had been closed. As of March 31, 2014, Eastside had $169 million in total assets and $161.6 million in total deposits. The FDIC estimates that the closing will cost the Deposit Insurance Fund (DIF) $33.9 million.

(6/29/14)- The single branch Freedom State Bank, of Freedom, Oklahoma became the 12^th bank closed by regulators this year. That is the exact same number of banks that were closed at this point in time last year. The 10-year U.S. Treasury stands at slightly over the 2.50% mark of Friday.

As of March 31, 2014, Freedom State Bank had $22.8 million in total assets and $20.9 million in total deposits. The FDIC estimates that the closing will cost the Deposit Insurance Fund (DIF) $5.8 million

(6/26/14)- The 4 branch Valley Bank of Ft. Lauderdale, FL., and the 13 branch Valley Bank of Moline, Illinois, became the 10^th and 11^th banks closed by regulators so far this year.

As of March 31, 2014, Valley Bank of Ft. Lauderdale had $81.8 million in total assets and $66.5 million in total deposits. The FDIC estimates that the closing will cost the Deposit Insurance Fund (DIF) $7.7 million.

As of March 31, 201`4, Valley Bank of Moline, Ill had $456.4 million in total assets and $360 million in total deposits. The FDIC estimates that the closing will cost the Deposit Insurance Fund (DIF) $51.4 million

(6/14/14)- There were no banks closed by regulators this week, leaving the total number of closures for this year at 9. The number of closed institutions stood at 12 at this point in time last year versus the 35 closed at this point in time in 2012, and the 58 banks that were closed at this same point in time in 2011.

The 10-year U.S. Treasury was at 2.60% at the close of the market on Friday.

(6/7/14)- No banks were closed this week, so the total number of them closed so far this year still stands at 9, compared to the 12 closed at this point in time last year, and the 31 closed at a similar point of time in 2012. The 10-year U.S. Treasury bond closed right around the 2.60 mark, and the unemployment rate stayed at 6.3% for the month of May.

(6/1/14)- The 2-branch Slavie Federal Savings Bank, Bel Air, Md., became the 9^th bank closed, so far this year, by banking authorities. As of March 31, 2014 the bank had a total of $140.1 million in assets and $111.1 million in deposits. The FDIC estimates that the closing will cost the Deposit Insurance Fund (DIF) $6.6 million.

The FDIC reported a steep 7.6% drop in net income in the first quarter from the same period a year ago at the nation’s 6,730 commercial banks and savings institutions. It was just the 2^nd time in 19 quarters that financial firms reported a year-over-year profit fall.

Collective holdings of U.S. Treasury obligations by U.S. banks grew by 23%, which was the biggest increase since the financial crisis began in 2008, according to the quarterly report from the FDIC. As a result, banks now hold more Treasuries than they have since 1997, even after adjusting for inflation.

(5/26/14)- The 1-branch Columbia Savings Bank of Cincinnati, Ohio became the 8^th bank closed, so far this year, by banking authorities. As of March 31, 2014 the bank had a total of $36.5 million in assets and $29.5 million in deposits. The FDIC estimates that the closing will cost the Deposit Insurance Fund (DIF) $5.3 million.

At this same point in time last year there had been 11 bank closures.

(5/17/14)- The 2-branch AztecAmerica Bank of Berwyn, Ill. became the 7^th bank casualty of this year, compared to the 11 that had been closed at this point in time in 2013, and the 24 in 2012. The bank had total assets of $66.3million, and total deposits of $65 million, as of March 31, 2014. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for the closure will be $19 million

(5/3/14)- After the conclusion of its 2-day meeting on March 29, the Fed announced that it would cut back, by another $10 billion, from its $55 billion program to buy mortgages, treasuries, etc. This brings that buy-back program down to $45 billion from what was originally an $85 billion plan. The announcement was followed by the fact that the 10-year U.S. Treasury bond closed on Friday with a 2.591% yield. As we noted in our item dated 4/8/14 below the interest rate on this maturity was then at 2.70%.

Last year, at this point in time 10 banks had been closed, whereas this year that number still stands at 6

(4/28/14)- The 5 branch Allendale County Bank of Fairfax, S.C. became the 6^th banking casualty of the year compared to the 10 that had been closed at this point in time last year. The bank had total assets of $54.5million, and total deposits of $51 million, as of December 31, 2013. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for the closure will be $17.1 million.

The 10-year U.S. Treasury bond stood at 2.667%, as of the close of the market on 4/25/14.

(4/8/14)- Another week has gone bye in which banking regulators did not close any banks. It thus has been more than one month since the last closure, leaving the total closed at 5, so far this year.

The 10-year U.S. Treasury pays slightly under 2.70%, which is down from the 3.00+% mark that it was at in February. With the adverse weather conditions that existed in most states recently, it would be quite surprising to see the first quarter of 2014 come in with good economic numbers.

(4/3/14)- Since September 2013, banking regulators have had to close only 7 banks. Through the end of March, 2013 only 5 banks have been closed so far this year. That is actually one more bank than the 4 that were closed, at this point in time last year, but 12 less than the 17 that had been closed at this point in time in 2012

(3/3/14)- The fourth and fifth banks closed so far this year became the one branch Vantage Point Bank of Horsham, Pa., and the 2 branch Milennium Bank National Association of Sterling, Va. As of December 31, 2013, Vantage had $63.6 million in assets and $62.5 million in deposits, while Vantage had $130.3 in assets and $121.7 million in deposits.

The FDIC estimates the closing of Vantage will cost the Deposit Insurance Fund (DIF) $8.5 million, while the closing of Millennium will cost $7.7 million.

(2/1/14) The 6 branch Syringa Bank, Boise, Idaho became the 3^rd bank closed by regulators this year. . The bank had total assets of $153.4million, and total deposits of $145.1 million, as of September 30, 2013. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for the closure will be $4.5 million

(1/31/14)- U.S. banks cut a net 1,487 branch locations last year, according to SNL Financial, the most since the research firm began accumulating the data in 2002. Data from the Federal Deposit Insurance Corp. (FDIC) indicated that there were a total of 96,339 bank branches in this country as of the middle of 2013. No state or territory had net branch-bank additions in the cumulative period running from 2010 to 2013, according to the researchers at SNL.

Florida had the largest number of closures from 2010 to 2013 with 319 net closures, followed by Georgia with 266 fewer branches. Nebraska with no closures or openings had the best results of any of the states. While the Bank of America showed a decline of 189 branches in 2013, J.P. Morgan Chase & Co. showed a total of 34 net openings over closures for this period of time.

(1/26/14)- The 2 branch Bank of Union, El Reno, Oklahoma, became the second banking casualty of 2014, when it was closed by banking regulators. . The bank had total assets of $331.4 million, and total deposits of $328.8 million, as of September 30, 2013. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for the closure will be $70 million

(1/21/14)- The 3 branch Dupage National Bank of W. Chicago, Illinois became the first banking casualty of 2014, which is roughly about the same date that the first banking failure took place in 2013. The bank had total assets of $61.7 million, and total deposits of $59.6 million, as of September 30, 2013. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for the closure will be $1.6 million.

(12/30/13)- The final totals for 2013 are in, and it showed that 24 banks were closed by banking regulators this year, as opposed to the 51 closed in 2012 and the 90 that were closed in 2011. The terms for the Dodd-Frank Act were set, and it remains to be seen how that law will affect the large banks in this country.

The 10-year U.S. Treasury bond has risen from 1.6% in May to 3.0% as of the close of the bond market on December 27^th.

(12/15/13)- The Texas Commerce Bank SSB. College Station, Texas became the 24^th bank closure this year compared to the 51 that had been closed at this point in time in 2012, and the 90, at this point in time in 2011. The bank had total assets of $160.1.5 million, and total deposits of $142.6 as of September 30, 2013. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for the closure will be $10.8 million.

(12/1/13)- There was one bank closure in October, and there were no bank closures in the month of November. The total number of closures, so far this year, stands at 23 versus the 50 that had been closed at this point in time in 2012.

(11/12/13)- There were no banks closed by regulators this past Friday, so the total number of closings still stands at 23. This compares with the 50 banks that had been closed at this point in time in 2012. 90 banks had been closed at this point in time in 2011, and 157 had been closed at this same point in time in 2010.

At the end of the June quarter the Deposit Insurance Fund stood at a plus $37.9 billion, versus the $20.9 billion it was in the red at the end of 2009.

(11/2/13)- The closing of the 2 branch Bank of Jackson City, Graceville, Florida, made it the 23^rd failure so far this year. The bank had total assets of $25.5 million, and total deposits of $25.0 as of September 30, 2013. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for the closure will be $5.1 million.

(10/19/13)-j More than a month has passed since banking officials announced the closing of any banks, leaving the total number of closures still at 22. Congress has passed, and the president has signed legislation increasing the debt ceiling and a budget on a short term temporary basis. Warren Buffett has stated that U.S banks have the cleanest balance sheet that they have had in years.

The 10-year U.S. Treasury bond stands at about 2.60% as of the close of the market on 10/18/13

(10/12/13)- The Federal Deposit Insurance Corporation said its Deposit Insurance Fund (DIF) at the end of the 2^nd quarter stood at $37.9 billion. Keep in mind that the fund was $20.9 billion in the red at the end of 2009, when the banking crisis reached its peak. There are roughly 6,900 banks that now are insured by the FDIC.

Once again, no banks were closed by banking regulators, leaving the number of closed institutions at 22, so far, this year.

(9/30/13)- No banks were closed by regulators, so the total number closed this year still stands at 22, versus the 43 that were closed at this point in time last year, and the 73 that had been closed as of this date in 2011.

(9/21/13)- Last Friday, September 13^th, banking regulators acted in connection with 2 banks, thus bringing the total up to 22 for this year.

By far and away the larger of the two, and one of the largest that regulators have acted on this year was the 51 branch 1^st National Bank, Edinburg, Tex., that had $3.1 billion in total assets and $2.3 billion in total deposits as of June 30, 2013.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for the closure will be $637.5 million.

The Community’s Bank of Bridgeport, CT., with total assets of $26.3 million, and total deposits of $25.7 as of June 30, 2013, was closed. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for the closure will be $7.8 million.

(9/4/13)- Banking regulators did not close any banks on Friday. At this point in time last year 41 banks had been closed, versus the 20 that have been closed so far this year. Banks earned a reccord $42.2 billion between April and June of this year, up 23% for the same period in 2012, according to data compiled by the FDIC. It was the second quarter in a row that the banks reported record earnings.

The number of banks on the FDIC “problem list” has dropped to 553 in the second quarter, which is the first time since 2009 that the number has dropped below 600. The agency has closed two temporary offices opened in Illinois and California at the height of the crisis, and a third office in Jacksonville, Florida is due to close at the end of next year.

The division of the agency that handles bank failures had 218 employees in 2007, and that number climbed to 2,109 in 2010. It now has 430 employees, and more than 900 temporary workers.

(8/11/13)- The Bank of Wausau, Wausau, Wisconsin was the 14^th bank this year that was closed by banking authorities. It was a one branch bank, with $43.6 million in assets and $40.7 million in deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund for the closure will be $13.5 million.

(8/3/13)- The First Community Bank of Southwestern Florida, Fort Myers, FL became the 13^th banking casualty so far this year when regulators acted on it Friday.

First Community had a total of 7 branches, with $265.7 million in total assets and $254.2 million in deposits as of March 31, 2013.

The FDIC estimates that the cost to the Deposit Insurance Fund for the closure will be $27.1 million.

(7/28/13)- No banks were closed by regulators during the month of July, and in fact, no banks have been closed since June 9^th. The number of closed institutions still stands at 12 versus the 35 closed at this point in time last year and the 58 banks that were closed at this same point in time in 2011.

(7/20/13)- Another week has gone bye without banking regulators closing any banks. None have been closed since 6/9/13, with the total amount of closures this year still standing at 12.

The big banks reported their quarterly earnings for the quarter ended June 30, 2013, and they continued to be excellent. Regulators continue to debate the final rules with regards to "too big to fail".

(7/7/13)- It has been more than a month since banking regulators closed any banks, so that the total number of closures so far this year stands at twelve. versus the 32 that had been closed at this point in time last year, and the 51 failures the year before.

As of Friday, the 10-year U.S. Treasury bond closed at 2.71%, which represents a sharp increase over the 2.5% mark that it had closed at the prior Friday. It had been at the 1.61% level on May 21.

(6/30/13)- No banks were closed by regulators this past week, so that with only two banks closed for the entire month of June this year, the banking crisis continues to abate.

With the 10-year U.S. Treasury closing the week at the 2.5% versus the 1.63% that it was on May 21, we can see that Ben Bernanke and the Federal Reserve Board have taken the " foot off the pedal".

(6/24/13)- So far there have only been two banks closed by regulators in the month of June this year. That is the lowest number of banks closed in a month since the banking crisis came to a head. The total number of banks closed so far this year is twelve, versus the 31 closed at this point in time in 2012 and the 47 closed at this same time of the year in 2011.

 (6/17/13- No banks were closed by banking regulators this week, thus leaving the total number of closing this year at 12 versus the 47 that had been closed at this point last year.

Interest rates are beginning to nudge upwards, with the 10 year U.S. Treasury standing slightly below the 2.2% level on Friday. The spread between short term rates and long term rates is also beginning to broaden, which in turn has beneficial implications for the profitability of U.S. banks in the coming months.

(6/9/13)- Banking regulators closed a bank in Tennessee and a bank in Nevada, bringing the amount of closed institutions to 12 so far this year, compared to the 31 closed at this point in time last year.

The two closed banks had a total of 13 branches, with $457.5 million in total assets and $393 million in deposits as of March 31, 2013.

The FDIC estimates that the cost to the Deposit Insurance Fund for the two closures will be $42.9 million.

(6/3/13)- The banking crisis continues to abate as shown by the fact that the industry posted record profits for the first quarter ended March of this year.Net operating revenue, which excludes many items, was up only slightly from the recent quarters to $171 billion.

Banking profits for the first quarter of 2013 was $40.3 billion, the highest on record and an increase of nearly 16% from the same quarter last year.Average net interest margin fell to 3.27, the lowest level since the fourth quarter of 2006.

(5/18/13)- The Arizona Department of Financial Institutions closed the 1 branch Central Arizona Bank of Scottsdale, Arizona on the 14^th of the month, bringing the total number of bank closures so far this year to 11 compared to the 24 that had been closed at this point in time last year.

As of March 31, 2013, the bank had about $31.6 million in total assets and $30.8 million in total deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund will be $8.6 million.

(5/6/13)- No banks were closed on Friday by banking regulators, and so the number of closed banks so far this year still stands at 10, versus the 24 that had been closed at this same point in time last year.

(4/29/13)- Banking regulators closed two banks this week, bringing the total number of banks closed this year to 10. This compares with the 22 banks that were closed last year at this same point in time last year.

Between the two banks, they had 7 branches with a total of $425.1 in total assets and $418.0 in total deposits, as of December 31, 2012. One of t he banks that was closed was located in Georgia and the other one was located in North Carolina.

The estimated total cost to the Deposit Insurance Fund for the two bank closures will be $104.5 million.

(4/21/13)- Three banks were closed by banking regulators on Friday, bringing the total number of closures this year to 8. The banks were located in Kentucky, and two in Florida.

They had a combined 8 branches, which had, as of December 31, 2012 a combined total of about $250,2 million in total assets and $240.1 million in total deposits

The estimated total cost to the Deposit Insurance Fund will be $50.2 million.

(4/15/13)- The 2 branch Gold Canyon Bank, Gold Canyon, Arizona became the fifth banking casualty this year when the Arizona Department of Financial Institutions closed it. At this same point in time last year, banking regulators had closed 17 banks.

As of December 31, 2012, Gold Canyon Bank had about $45.2 million in total assets and $44.2 million in total deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund will be $11.2 million

(4/6/13)- There were 2,267 banking branches that were closed in 2012, according to data compiled by SNL Financial, a Charlottesville, Va., research firm. That left the U.S. bank branch count at 93,000, according to AlixPartners, a New York consulting firm.

Banking regulators did not close any banks Friday, thus leaving the total amount of closures this year at 4 compared to the 17 that had been closed at a similar point in time last year.

(3/30/13)- We are now at the end of the first quarter of 2013, and there have only been 4 bank closures so far this year as compared to 17 last year and 26 closings in 2011.

17 of the 18 largest banks in this country passed the most recent "stress test" from the U.S. Treasury.

The Dow Jones Industrial Average and the S&P 500 Index are at there highest levels ever.

(3/12/13)- The Georgia Department of Banking and Finance closed the 9 branches of the Frontier Bank, LaGrange, Georgia, making it the fourth banking casualty of the year. There had been 15 banks closed by financial regulators at this same point in time last year.

As of December 31, 2012, Frontier Bank had about $258.8 million in total assets and $224.1 million in total deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund will be $51.6 million.

The FDIC insures deposits at 7,083 banks and savings institutions in this country.

(2/18/13)- The Covenant Bank of Chicago, Illinois became the 3^rd bank to be closed by financial regulators in 2013. As of December 31, 2012, Covenant Bank has about $58.4 million in total assets and $54.2 million in total deposits.

There were 13 banks closed by banking officials at this same point in time last year.

The FDIC estimates that the cost to the Deposit Insurance Fund will be $21.8 million.

(2/9/13)- No banks were closed on Friday, leaving the total number of closures at 2. At this same point in time last year 13 banks had been closed and 18 had been closed in 2011.

Along with the continued improvement in the housing market, the financial institutions in this nation continue on the road to health.

(2/3/13)- The banking industry ended the month of January with only 2 failures this year, compared to the 7 closures that occurred at this point in time last year, and the 11 that had been closed by the end of January in 2011.

Obviously, things are improving as reflected by the fact that the Dow Jones Industrial Average is bordering on its all time high that it reached in October, 2007.

(1/19/13)- The one branch 1^st Regent Bank of Andover, Minn. became the 2^nd bank failure of 2013.

As of September 30,2012, 1^st Regent Bank had about $50.2 million in total assets and $49.1 million in total deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.5 million.

(1/13/12)- The Westside Community Bank of University Place, WA. Became the first banking casualty of 2013. There were 51 banks closed in 2012 versus the 90 banks that were closed in 2011 and the 157 banks that were closed in 2010.

As of September 30,2 012, Westside Community Bank had about $97.7 million in total assets and $96.5 million in total deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.3 million.

(12/16/12)- The two branch Community Bank of the Ozarks, Sunrise Beach, Missouri was closed by banking regulators on Friday making it the 51st bank closed this year, versus the 90 that had been closed at this point of time last year.

As of September 30,2 012, Community Bank had about $42.8 million in total assets and $41.9 million in total deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.4 million

(11/25/12)- Banking regulators did not close any banks this past Friday, so the number of closed banking institutions remains at 50 so far this year. At this same point in time there had been 90 of them that had been closed last year.

(11/21/12)- The two branch Hometown Community Bank of Braselton, Georgia became the 50^th banking casualty this year, after it was closed on Friday by banking regulators. This compares to the 90 banks that were closed at this point in time in 2011, and the 157 that were closed at this same point in time in 2010.

As of September 30,2012, Hometown had about $124.6 million in total assets and $108.9 million in total deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.7 million.

(11/4/12)- Two more banks went under on Friday, bring the total number of closures this year up to 49, as compared to the 87 that had been closed at this point in time last year. One of the two closed was the 21 branch Citizens First National Bank of Princeton, Illinois. Citizens First is one of the larger banks closed this year with $924.0 million in total assets and $869.4 million in total deposits, as of September 30, 2012.

The other bank that was closed was the Heritage Bank of Florida, Lutz, Florida, which had $225.5 million in total assets and $223.3 million in total deposits as of September 30, 2012.

The two bank closings will cost the Deposit Insurance Fund (DIF) a total of $110.7 million.

(10/31/12)- The FDIC was unable to find a buyer for the NOVA Bank of Berwyn, Pennsylvania, making that bank the 46^th banking casualty of the year compared to the 85 that had failed as of this point in time last year. The FDIC will mail checks directly to depositors of NOVA Bank for the amount of their insured money.

As of June 30, 2012 the bank had $483 million in total assets and $432.2 million in total deposits. Its closings will cost the Deposit Insurance Fund (DIF) $91.2 million

(10/28/12)- The International Paper Co. has agreed to pay the FDIC $42 million to settle a claim stemming from the collapse in 2009 of Guaranty Financial Group, an Austin, Texas company that ranks as the fifth-largest in asset bank failure. The claim against International Paper arose as a result of its buying a packaging firm Temple Inland Inc., which had owned Guaranty for nearly two decades before spinning it off as an independent company in 2007

Guaranty's collapse resulted from its dealings with adjustable-rate mortgages in its 162 branches. When it failed it had $13.5 billion in assets, and its collapse cost the FDIC's Deposit Insurance Fund (DIF) $1.29 billion.

The four larger bank failures than Guaranty were the collapses of Washington Mutual ($307 billion in assets) in 2008; IndyMac's failure in 2008 ($30.7 billion in assets); Colonial Bank's failure in 2009 ($25.5 billion in assets) and First Republic of Dallas' failure in 1988 ($17.1 billion in assets).

The FDIC was not a direct party in the lawsuit, but it can share in an additional $80 million in claims. The settlement must be approved by the court before it is finalized.

(10/21/12)- Two banks in Florida became the first causalities for the banking industry this month, bringing the total number of closures to 45, versus the 79 that had been closed at this point in time last year.

The two closed banks had a total of $226.3 million in assets and $217 million in deposits as of June 30, 2012. Their closings will cost the Deposit Insurance Fund (DIF) a total of $45.2 million.

(10/17/12)- The month of October has not seen any banks being closed by banking officials leaving the total number of closures at 43 versus the 79 that had been closed at this same point in time last year.

Bank balance sheets continue to improve, as does the housing market, which continues to bode well for financial institutions as they continue the healing process.

(9/30/12)- The 5 branch First United Bank of Crete, Illinois became the 43^rd bank casualty this year. At this point in time last year 73 banks had been closed. To recap the yearly picture, 92 banks were closed in 2011 and 157 in 2012.

As of June 30^th, 2012 the bank had a total of $328.4 million in total assets and $316.9 million in total deposits. Its failure will cost the Deposit Insurance Fund (DIF) an estimated $48.6 million.

(9/15/12)- The 4 branch Truman Bank, Saint Louis Missouri became the 42^nd bank closure so far this year. As of June 30^th, 2012 the bank had a total of $282.3 million in total assets and $245.7 million in total deposits.

Its failure will cost the Deposit Insurance Fund (DIF) an estimated $34 million. 70 banks had been closed at this point in time last year.

FirstMerit Corp. agreed to acquire Citizens Republic Bancorp Inc. in a stock deal valued at roughly $952 million. The combined companies will have 415 branches in Pennsylvania, Ohio, Michigan, Illinois and Wisconsin. The combined lender will have $24 billion in total assets.

(9/9/12)- The one branch First Commercial Bank of Bloomington, Minnesota became the 41^st banking casualty of the year as opposed to the 70 banks that had been closed at this same point in time last year.

As of June 30^th, 2012 the bank had a total of $215.9 million in total assets and $206.8 million in total deposits.

Their failure will cost the Deposit Insurance Fund (DIF)an estimated $63.9 million.

(9/1/12)- "The banking industry continued to make gradual but steady progress toward recovery in the second quarter", stated acting FDIC Chairman Martin J.Gruenberg. Commercial banks and savings banks insured by the FDIC reported aggregate net income of $34.5 billion in the second quarter of 2012, a $5.9 billion improvement from the $28.5 billion in profits the industry reported in the second quarter of 2011.

This is the 12^th consecutive quarter that earning have registered a year-over-year increase.

For the forth time in the last five quarters loan balances increased. The number of "problem" institutions fell for the fifth quarter in a row from 772 to 732. This is the smallest number of "problem" banks since year-end 2009.

The Deposit Insurance Fund (DIF) balance, unaudited, rose to $22.7 billion at June 30 from $15.3 billion at the end of March. So far this year the total number of failed banks stands at 40 versus the 68 banks that had failed at this same point in time last year.

(8/26/12)- The tally of banks closed so far this year still stand at 37 versus the 67 that were closed at this point in time last year. For the second week in a row, banking regulators did not close any banks on Friday.

With the Dow Jones Industrial Average standing close to its yearly high on Friday, slowly but surely the economic recovery from the recession continues.

(8/19/12)- There were no banks closed by banking regulators on Friday, thus leaving the number of closure so far this year at 37, versus the 67 that were closed at this same point in time last year.

The 10-year U.S. Treasury bond has moved up from slightly below 1.40% on July 25^th to slightly over 1.80% on Friday. This increase in interest rates may be an indication that interest rates have bottomed out and may be headed ever so slowly upwards as the economy continues to improve and that there is less need on the part of the Fed to "help the economy, especially the housing market" with historically low interest rates.

The Dow Jones Industrial Average hovers at its high for the year. The tug of war between the bull and the bear will go on, but it will be a long drawn out battle.

(8/11/12)- Slowly but surely the banking industry continues on the path of recovery from the depths of the recession of 2008. Regulators did not have to close any banks on Friday, so that number remains at 37 that have been closed so far this year, versus the 63 closed at this point last year and the 157 banks closed in all of 2010.

The financial institutions are on the path to recovery, but the slope is slippery and more will fail before this mess has been resolved.

(8/5/12)- A small 2 branch bank in Illinois became the 37^th banking casualty this year as opposed to the 61 banks that had been closed at this same point last year.

As of March 31, 2012 the bank had a total of $88.9 million in assets and a total of $77.5 million in deposits.

Their failure will cost the Deposit Insurance Fund an estimated $19.8 million.

(7/28/12)- A 3 branch bank in Georgia became the 36^th one closed so far this year by banking officials versus the 61 that were closed at this same point in time last year.

As of March 31, 2012 the bank had a total of $216.7 million in assets and a total of $213.1 million in deposits. Its failure will cost the Deposit Insurance Fund (DIF) $58.1 million

(7/21/12)- Banking regulators closed 2 banks in Georgia and 1 bank in Illinois, Florida and Kansas. With these 5 closures the number of banks that have been closed, so far this year, comes to 35 versus the 58 banks that were closed at this same point in time last year.

As of March 31, 2012 the 5 banks had a total of $738.6 million in assets and a total of $674.2 million in deposits.

Their closings will cost the Deposit Insurance Fund a total of $151.3 million between the 5 of them

(7/15/12)- The Federal Deposit Insurance Corp. sent a letter to banks under its coverage telling them not to erroneously advise depositors that the agency was responsible for the fees that many of them now instituted.

Some of the fees are tied to the premiums that banks pay into the FDIC's deposit insurance fund (DIF), which protects customers when a bank fails. Many of the banks then pass those fees on to their depositors.

"FDIC Fee", "FDIC Assessment", "FDIC Insurance Premium", and "FDIC Insurance Charge" are but a few of the wordings on the notices that are appearing in the banks.

Fees with those names "create confusion" said Luke Brown, associate director for supervisory policy in the FDIC's division of depositor and consumer protection.

The agency has required banks to prepay their assessments since the banking failure problem arose in the last few years. They have paid $3.7 billion in FDIC assessments in the first quarter, up 30% from 3 years ago. As we have noted in this article, the number of bank failures are dropping in the last 2 years, and hopefully will continue to do so.

(7/14/12)- The one branch Glassgow Savings Bank, Glassgow, Missouri was closed on Friday by banking regulators, making it the 30^th bank closed so far this year. Last year there were 55 banks that had been closed by regulators at this point in time.

Glassgow had about $24.8 million in total assets and $24.2 million in total deposits, as of March 31, 2012. It's closing will cost the Deposit Insurance Fund (DIF) $0.1 million

(7/8/12)- The Montgomery Bank & Trust Co. of Alley, Georgia became the 32nd bank closed so far this year versus the 51 banks that had been closed at this point last year.

Montgomery Bank had about $173.6 million in total assets and $164.4 million in total deposits, as of March 31, 2012. It's closing will cost the Deposit Insurance Fund (DIF) $75.2 million

(6/19/12)-There have been more than 90 bank mergers and takeover deals of small to medium sized banks this year, which means the year is shaping up to have the largest number of such deals since the 286 transactions in 2007.

(6/16/12)- Banking regulators closed banks in Tennessee, Georgia and Florida on Friday. With these 3 bank closures, the total of closed banks for 2012 now stands at 31 versus the 47 closed at this point in time last year. The 3 closed banks had a total of $484.4 million in assets and $464.3 million in deposits as of March 31, 2012.

Their closing will cost the Deposit Insurance Fund (DIF) a total of $100.0 million.

(6/11/12)- Four banks were closed on Friday by banking regulators bringing the total amount of closures up to 28 versus the 47 that were closed at this point in time in 2011 and the 157 that were closed as of this date in 2010.

Closures took place in Oklahoma, North Carolina, South Carolina and Illinois. The bank that was closed in North Carolina was the 16 branch Waccamaw Bank, in Whiteville, N.C., which had about $533.1 million in total assets and $472.7 million in total deposits, as of March 31, 2012. It's closing will cost the Deposit Insurance Fund (DIF) $51.1 million.

The 3 other banks that were closed had a total of $148.6 million in total assets and $140.2 million in total deposits as of March 31, 2012. Their closings will cost the DIF $29.7 million

(6/2/12)- For the second week in a row, there were no bank closures announced on Friday. This leaves the total number of banks closed so far this year at 24, versus the 45 banks that were closed at this point in time last year.

This week also marked the lowest interest point for the 10-year U.S. Treasury bond at 1.47% and the 30-year U.S. Treasury bond at 2.57%.

(5/26/12)- The number of federally insured banks on the FDIC's confidential "problem" list fell in the first quarter to 772 from 813 in the fourth quarter. That represents a 9.5 percent drop.

The banking industry posted a 3% increase in revenue from a year earlier, which is only the 2nd time that has happened in the last 5 quarters.

Bank earnings rose in the first quarter to the highest level in nearly 5 years. The industry earned $35.3 billion in the first quarter of this year, compared with $28.7 billion in the same period last year. It was the highest level since the second quarter of 2007.

On the negative side, loans to consumers fell in most categories.

(5/19/12)- After going a week without having a bank being closed, regulators closed the Alabama Trust Bank, National Association of Sylacauga, Alabama on Friday, making it the 24^th bank closed so far this year. Last year at this same period of time, 43 banks had been closed.

The one bank branch had about $51.6 million in total assets and $45.1 million in total deposits as of March 31, 2012.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $8.9 million.

(5/12/12)- The big news in the banking world this week was the $2.3 billion, if not more, trading loss incurred by JP Morgan, while on the other hand, no banks were closed this week by banking officials. That leaves the total number of banks closed this year at 23 , compared to the 40 that had been closed at this time a year ago.

(5/5/12)- The 3 branch Security Bank, National Association, North Lauderdale, Florida became the 23^rd bank closed this year by regulators compared to the 39 banks that had been closed by overseers as of this point in time last year.

As of March 31, 2012, Security Bank had about $101.0 million in total assets and $99.1 million in total deposits.

Its failures will cost the Deposit Insurance Fund (DIF) an estimated $10.8 million.

(4/29/12)- The banking crisis is improving but not out of trouble yet is the best way to summarize what is happening with the financial organizations in this country. As proof of this, banking regulators closed 5 banks on Friday, April 27^th, bringing the total number of closures up to 22 this year, compared to the 39 that had been closed at this same point in time in 2011.

Two of the banks were located in Maryland, and one each in California, South Carolina and Minnesota. As of December 31, 2011 the total assets of the closed banks was $1,364. billion and their total deposits was $1,273.2 billion.

Their failures will cost the Deposit Insurance Fund (DIF) an estimated total of $196.7 million.

(4/21/12)- Fort Lee Federal Saving Bank, FSB, Fort Lee, N.J became the 17^th banking casualty on Friday when it was closed by banking officials, compared to the 34 banks closed at this same point in time in 2011.

The single branch bank had about $51.9 million in total assets and $50.7 million in total deposits as of Decembe31, 2011.

(4/12/12)- Banking officials did not close any banks last Friday, leaving the total number of closures this year at 16, compared to the 28 financial institutions that had been closed at this same point in time last year. There were 92 banks closed last year, and 157 in 2i010.

The overall health of the banking industry continues to improve, but it still has a long way to go before we can say that the industry is really out of trouble.

(4/3/12)- The Senate, in a voice vote, confirmed Martin Gruenbert to the FDIC board of directors. He currently is the chairman of the FDIC.

The 15 branch Fidelty Bank, Dearborn, Michigan became the 16^th casualty bank this year. The Michigan Office of Financial and Insurance Regulation on Friday closed it. Twenty-eight banks had been closed at this point in time a year ago.

As of December 31, 2011, Fidelity Bank had about $818.2 million in total assets and $747.6 in total deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $92.8 million.

(3/27/12)- The two-branch bank Covenant Bank & Trust, of Rock Spring, Georgia, and the two-branch Premier Bank of Wilmette, Illinois were closed by banking regulators on Friday. This brings the total number of bank closures, so far this year, to 17. At this same point in time last year, financial regulators had closed 26 banks.

As of December 31, 2011, the two closed banks had a total of $364.4 million in total assets and $289.6 million in total deposits. Their closures will cost the Deposit Insurance Fund (DIF) $95.6 million.

(3/17/12)- Banking regulators did not announce the closing of any banks on Friday, thus leaving the total number of banks closed so far this year at 15 versus the 26 banks that were closed at this same point in time in 2011.

The 10-year U.S. Treasury bond closed Friday with a 2.3% yield, reaching the highest level that it has attained in the last 4 months. We will keep you posted on this interest rate level, since a healthier economy will mean that this rate will be rising. The Federal Reserve Board would like to keep long term interest rates low, while allowing short term interest rates to rise.

(3/13/12)- The FDIC closed the New City Bank, Chicago, Illinois, making it the 15^th closed bank so far this year. At this point, a year ago, there had been a total of 26 banks closed by financial regulators.

As of December 31, 2011, New City Bank had $71.2 million in total assets and $72.4 million in total deposits.

The agency estimated that the cost to the Deposit Insurance Fund (DIF) will be $17.4 million.

(3/7/12)- The FDIC reported that the banking industry posted a $119 billion profit for 2011. That is up 40% from 2010 and the biggest banking profit since 2006.

That same report also showed that loan loss reserves fell to their lowest level since early 2008, but the banking industry's annual revenue dropped for the first time since 2008, and only the second time there was a drop in 74 years.

The main reason for the increase in earnings is because banks are putting aside less cash to cover bad loans, rather than truly increasing their earnings through business growth. FDIC Chairman Martin Gruenberg stated that this trend of increasing earnings by writing down less in bad loans "can't go on indefinitely."

Banks reported loan balances grew by $130 billion, or 1.8%, in the last 3 months of 2011 from the previous quarter, the biggest increase since the fourth quarter of 2007

(3/3/12)- The three branch Global Commerce Bank of Doraville Georgia became the 14^th banking casualty so far this year. A year ago there had been 24 bank closures by March 3.

As of December 31, 2011, the bank had a $143.7 million in total assets and $116.8 million in total deposits. This week's closure will cost the Deposit Insurance Fund (DIF) $17.9 million.

(2/27/12)- Banking regulators closed two more banks this week, including the 5 branch Central Bank of Georgia, Ellaville, Georgia and Home Savings of America, Little Falls, Minn., bringing the total number of closures so far this year to 9. Last year, at this time, officials had closed 24 banks.

As of December 31, 2011, the two closed banks had a total of $713 million in assets and a total of $698.8 million in deposits.

The FDIC estimates that the 2 banks that were closed this week will cost the Deposit Insurance Fund (DIF) a total of $106.3 million.

(2/15/12)- After going a week without closing a bank, banking regulators closed two banks on Friday, bringing the total number of banks closed so far this year to 13. At this point last year there had been 18 banks closed. One of the banks closed was in Illinois and the other was in Indiana. This week's closures will cost the Deposit Insurance Fund (DIF) $41.3 million.

(1/29/12)- Banking officials closed 4 more banks this week, including two in Tennessee and one in Florida and Minnesota. This brings the total number of bank closures, so far this year, to 7 versus the 11 banks that were closed at this point in time a year ago. Among the banks closed this week was the Tennessee Commerce Bank, of Franklin Tennessee, which was the first bank closed this year with over a billion dollars in assets and deposits.

As of September 30, 2011, the one branch Tennessee Commerce Bank had about $1.185 in total assets, and $1.156 in total deposits.

The FDIC estimates that the 4 banks that were closed this week will cost the Deposit Insurance Fund (DIF) $607 million.

(1/23/12)- As of January 23, 2011 banking regulators had closed 7 banks last year. On Friday, the first 3 bank closures for 2012 were announced. We will continue to compare the number of closures in 2012 as opposed to 2011, so that our viewers can see how the banking situation continues to improve. Please keep in mind that 92 banks were closed in 2011, and 157 banks were closed in 2010.

This week's closures included banks in Florida, Georgia and Pennsylvania. These closures will cost the FDIC's Deposit Insurance Fund (DIF) a total of $243.8 million.

(1/9/12)- An analysis of bank failures conducted by the Wall St. Journal concluded that the number is down, at least in part, because the weakened banks are not being closed as rapidly as they were before.

Weak banks are staying alive for longer periods in undercapitalized condition and they are in weaker condition when they fail then prior hereto. The study also concluded that smaller banks are weaker than the larger banks.

Banking regulators deny that they are keeping troubled banks alive longer today than in the past. With an improving economy, the banking industry has more time to fix their problems and raise capital on their own. It also appears that the housing market has bottomed out and is beginning a slow tortuous upturn.

"If we believe there's a realistic chance… we're more willing to let then get that capital raise," said Kris Whittaker, deputy comptroller for special supervision at the Office of the Comptroller of the Currency, one of the main federal banking regulators.

(1/1/12)- The final total is in, and the number of bank closures by banking regulators stood for 2011 at 92. There were 157 banks that were closed in 2010, which represents the high-water mark, in contrast to the 140 banks that were closed in 2009..

The number of banks on the fed's "problem bank list" stood at 844 at the end of the third quarter this year, which is the latest quarter for which that list is presently available, down from the 865 on the list for the prior quarter.

(12/23/11)- It had been almost a month since banking regulators last closed a bank, but that streak came to an end Friday, December 16thwhen 2 banks were closed. That brought the total number of bank closures, so far this year, up to the 92 mark versus the 157 banks that were closed in 2010. One of the banks closed was in Florida, with the other bank being located in Arizona.

The closure of these two banks will cost the Deposit Insurance Fund (DIF) an estimated $68.8 million when taken together.

(12/16/11)- The Federal Deposit Insurance Corporation (FDIC) civilly sued 3 former officials of Washington Mutual Inc.and their wives in federal court in Seattle in March, accusing them of taking excessive risks for the bank's investments and thus reaping the benefits if the strategy worked when they received their perfomance bonus. If the strategy did not work, they still would receive a large payday, even though the bank would lose money

The excessive risks, which eventually caused the downfall of the bank worked at first, and therefore enhanced the pay of these officials. The executives and their wives were former Chief Executive Kerry Kilinger, ex-president Stephen Rotella and David Schneider, the bank's former home-loans president.

The lawsuit sought to recoup $900 million from the defendants. The three defendants received a total of $95 million in compensation between 2005 and 2008 according to the suit.

The lawsuit is being settled for less than $75 million, of which the largest amount of money would come from the company's insurance and the bank's estate. The defendants will pay out about $400,000 but won't admit or deny any wrongdoing. They also agreed to forgo some of the benefits that had accrued for them.

The Justice Department had already closed its criminal case against the officials earlier this year. The FDIC did not lose any money in this matter because the bank was sold to J.P.Morgan & Co., so the agency will not receive any portion of the settlement money. The money will go towards the claims of the creditors of the bank.

The FDIC's board has authorized lawsuits seeking total damage claims of at least $7.6 billion against 373 individuals who were involved with 41 failed institutions.

The Washington Mutual insurance fund had previously been tapped earlier this year during a $208.5 million settlement of a separate shareholder class action lawsuit against former executives, directors and other defendants.

(12/3/11)- For the second week in a row, banking regulators did not close any banks this week. Thus, the total number of bank closures still stands at 90 so far this year, compared to the 157 that were closed last year.

With the unemployment rate having dropped to 8.6% for the month of November, compared to the 9.0% in October, it now stands at the lowest level in the last 2 1/2 years.

The number of banks on the FDIC "problem bank" list having dropped to 844 for the latest reporting quarter, from 865 the previous quarter, the health of our banking sector continues to gradually, ever so gradually, improve.

(11/26/11)- At the end of the third quarter there were 844 "problem" banking institutions, down from the 865 problem institutions at the end of the second quarter, and the 888 on the list at the end of the first quarter, as reported by the Federal Deposit Insurance Corporation. Names of the banks on the list are withheld.

In the third quarter there were 26 bank failures and 21 banks dropped off the list.

FDIC-insured institutions posted net income of $35.3 billion in the third quarter, an increase of $11.5 billion, or 48% compared to a year earlier. The profits were at the highest level since the second quarter of 2007.

The agency said that the amount of loans and leases that were non-current, meaning that they were 90 days of more past due, or in non-accrual status, declined during the quarter by $10.5 billion, or 3.3%.

Net operating revenue was 0.5% higher than the year-ago period. Non-interest income, in decline in each of the past 6 quarters, was up by $3.2 billion.

(11/22/11)- Financial regulators closed two more banks on Friday bringing the total number of bank closures so far this year to 90 versus the 157 banks that were closed in 2010.

(11/13/11)- The one branch Community Bank of Rockmont, Rockmont, Ga. became the 88^th bank closed by financial regulators this year. The bank had $62.4 million in assets and $55.9 million in deposits, as of June 30^th 2011. Its failure will cost the Deposit Insurance Fund (DIF) $14.5 million.

(11/6/11)- With the closing of two more banks on Friday, the total number of banks closed so far this year is now at 87 as of November 4^th, compared to the total number of closings in all of 2010 standing at 157. From this point forward we will not list the individual banks that are closed each week unless its total deposits or assets exceed $1 billion. In order to cut down on the length of this article we will also remove the individual bank names that were listed in the weekly closings shortly.

If you need to know the name of the individual bank that is closed each week please go to the FDIC site at fdic.gov.

(10/31/11)- The All America Bank, Des Plains, Illinois became the 85^th bank to be closed this year by banking regulators. The sole branch of All America had approximately $33.4 million in total assets and $33.4 in total deposits as of June 30, 2011. It failure will cost the Deposit Insurance Fund $6.5 million.

Last year there were a total of 157 banks closed by financial regulators, compared to the 85 closures as of October 28^th this year.

(10/26/11)- With the closing on Friday of 4 more banks by regulators the total number of closures now stands at 84. Included in the banks closed was the 40 branch Community Banks of Colorado, Greenwood, Colorado. As of June 30, 2011, the Community Banks had about $1.38 billion in total assets and $1.33 billion in total deposits. Its failure will cost the Deposit Insurance Fund (DIF) $224.9 million.

The Community Capital Bank of Jonesboro, Georgia had two branches with total assets of $181.2 million, and total deposits of $166.2 million as of June 30, 2011.Its failure will cost the Deposit Insurance Fund (DIF) $62.0 million.

The Decatur First Bank of Decatur, Georgia had 5 branches with about $191.5 million in total assets and$179.2 in total deposits as of June 30, 2011. Its failure will cost the Deposit Insurance Fund (DIF) $32.6 million.

The seven branches of Old Harbor Bank, Clearwater, Florida had about $215.9 million in total assets and $217.8 in total deposits as of June 30, 2011. Its failure will cost the Deposit Insurance Fund (DIF) $39.3 million.

(10/20/11)- Regulators closed four more banks on Friday, bringing the total number of closures so far this year up to 79.

The 2 branch Piedmont Community Bank, Grey, Georgia had approximately $201.7 in total assets, and $181.4 million in total deposits as of June 30, 2011. Its failure will cost the Deposit Insurance Fund (DIF) $71.6 million.

The 2 branch Blue Ridge Savings Bank, Inc. of Asheville, N.C. had approximately $161.0 in total assets, and $158.7 million in total deposits as of June 30, 2011. Its failure will cost the Deposit Insurance Fund (DIF) $38.0 million.

The 2 branch First State Bank, Cranford, N.J.. had approximately $204.4 in total assets, and $201.2 million in total deposits as of June 30, 2011. Its failure will cost the Deposit Insurance Fund (DIF) $45.8 million.

The 2 branch Country Bank, Aledo, Illinois had approximately $190.6 in total assets, and $167.5 million in total deposits as of June 30, 2011. Its failure will cost the Deposit Insurance Fund (DIF) $66.3 million.

(10/15/11)- In another indication that the banking crisis is ebbing, the Federal Deposit Insurance Corporation (FDIC) announced that it plans to close 2 of the 3 temporary field offices it set up to handle the increase in bank failures that have occurred in the last few years.

As of June 30, the agency had 865 banks on its "problem list". As of that date there were 7,513 FDIC-insured institutions. The agency started creating these temporary offices in late 2008 to handle the spike in work for its staff that handles bank resolutions and receiverships. The 3 offices were in regions hit hardest by the failures: the West, the Midwest and the Southeast.

The temporary office in Irvine, California will close in January 2012 and the Schaumburg, Ill., office will close in September 2012.

The third temporary office, in Jacksonville, Fla., will remain open at least through late 2013 due to the large number of bank failures still pending in that area of the country.

(10/11/11)- With banking regulators having closed two more banks on Friday, the total number of bank closures so far this year now stands at 75 versus the 157 banks that were closed in all of 2010.

The 6 branch RiverBank, Wyoming, Minnesota had approximately $417.4 million in assets and $379.3 million in deposits as of June 30, 2011. Its failure will cost the Deposit Insurance Fund (DIF) an estimated $71.4 million.

Sun Security Bank, Ellington, Missouri, a 27-branch bank was also closed on Friday by banking regulators. As of June 30, 2011 it had about $355.0 million in total assets and about $290.4 million in total deposits. Its failure will cost the Deposit Insurance Fund (DIF) an estimated $118.3 million.

(10/3/11)- The seven branch First International Bank, Plano, Texas became the latest banking casualty this year, bringing the total number of closures this year up to 73.

As of June 30, 2011, First International had about $239.9 million in total assets and $208.8 million in total deposits. Its failure will cost the Deposit Insurance Fund (DIF) an estimated $53.8 million.

(9/25/11)- The Virginia State Corporation Commission closed the 2l branch Bank of the Commonwealth, Norfolk, Virginia,, and the Federal Deposit Insurance Corporation (FDIC) was appointed as receiver. The bank reopened Saturday as branches of Southern Bank and Trust, Mount Olive, North Carolina.

As of June 30, 2011, the Bank of the Commonwealth had about $985.1 million in total assets and $901.8 million in total deposits. Its failure will cost the Deposit Insurance Fund (DIF) an estimated $268.3 million.

(9/11/11)- The Senate Banking Committee cleared the nomination of Martin Gruenberg to lead the Federal Deposit Insurance Corporation. The nomination now goes before the full Senate for approval, but because of the 60 votes that would be needed to block a filibuster, his nomination may not make it through that legislative body.

The eight branch The First National Bank of Florida, Milton, Florida became the 70^th banking failure in this country this year. Last year there were 157 banking failures.

As of June 30, 2011, The First National Bank of Florida had about $206.8 million in total assets and $280.1 million in total deposits. Its failure will cost the Deposit Insurance Fund (DIF) an estimated $46.9 million.

(9/4/11)- The one branch Patriot Bank of Georgia (Cummings, Georgia), and the two branch CreekSide Bank (Woodstock, Georgia) became the 68^th and 69^th bank failures so far this year.

As of June 30, 2011, Patriot Bank of Georgia had about $150.8 million in total assets and $111.2 million in total deposits, and Creekside Bank had total assets of $102.3 million and total deposits of $96.6 million.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Patriot Bank of Georgia will be $44.4 million, and for Creekside Bank $27.3 million.

There were a total of 157 bank failures in 2010.

(8/25/11)- Slowly, ever so slowly, the nation's banking system's financial health continues to improve. There are several data points showing that this is happening including the fact that the number of problem banks on the Federal Deposit Insurance Corporation's ( FDIC) list declined to 865 in the second quarter of 2011, from 888 in the first quarter.

This was the first time there was a decline in this list in 15 quarters. The FDIC's insurance fund for failed banks, the Deposit Insurance Fund (DIF) showed a surplus for the first time in two years. It stood at $3.0 billion, compared with a negative $1 billion balance at the end of the first quarter.

Much of the surplus is due to the fact that banks prepaid some of their premiums that would be due in latter years, and also because the cost of premiums was raised by the agency.

The nation's 7,513 banks and savings institutions reported a total profit of $28.8 billion in profits for the second quarter, up nearly 38% from a year ago, and the eighth consecutive quarter of earnings increases.

Bank loan balances rose for the first time since the second quarter of 2008

(8/23/11)- The 5 branch Lydian Private Bank, of Palm Beach Florida which had total assets of about $1.70 billion, and total deposits of about $1.24 billion as of June 30, 2011 was one of the four banks closed on Friday bringing the total of closed banks to 67 so far this year, versus the 157 banks closed in all of 2010.

The Lydian bank closing will cost the Deposit Insurance Fund (DIF) $293.2 million.

The one branch First Choice Bank of Geneva, Illinois, which was closed Friday, had about $141.0 million in assets and about $137.2 million in deposits as of June 30, 2011. Its failure will cost the DIF $31.0 million.

First Southern National Bankk of Statesboro, Georgia had one branch with about $164.5 million in total assets and $159.7 million in total deposits as of June 30, 2011. The FDIC estimates the closing will cost the DIF $39.6 million.

The Public Savings Bank of Huntington Valley, Pennsylvania had one branch with about $46.8 million in total assets and $45.8 million in total deposits as of June 30, 2011.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $11.0 million.

(8/14/11)- The 6 branch First National Bank of Olathe, Olathe, Kansas became the 64^th bank closed this year by banking regulators. As of June 30,2011, First National had about $538.1 million in total assets, and $524.3 million in total deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $116.6 million.

(8/7/11)- With the closing of two more banks on Friday by banking regulators, the total number of banks closed so far this year now stands at 63 as opposed to the 157 banks closed in all of 2010.

The twenty branch Bank of Whitman, Colfax, Washington had about $548.6 million in total assets and $515.7 million in total deposits as of June 30, 2011. The FDIC estimates the closure will cost the Deposit Insurance Fund (DIF) $134.8 million.

The three branches of the Bank of Shorewood, Shorewood, Illinois, had about $110.7 million in total assets and $104.0 in total deposits as of June 30, 2011. The FDIC estimates the closure will cost the Deposit Insurance Fund (DIF) $25.6 million

(7/30/11)- Banking regulators closed 3 more banks on Friday bringing the total number of closures up to 61 so far this year. The Integra Bank, National Association of Evansville, Indiana was closed by the Office of the Comptroller of the Currency, and its 52 branches will reopen Saturday as branches of Old National Bank of Evansville, Indiana.

It is one of the largest closures since Integra had about $2.2 billion in total assets and about $1.9 billion in total deposits as of March 31, 2011. The FDIC estimates the closure will cost the Deposit Insurance Fund (DIF) $170.7 million.

The Virginia Business Bank of Richmond Virginia with one branch had about $95.8 million in total assets and $85.0 million in total deposits, as of March 31, 2011. The FDIC estimates the closure will cost the Deposit Insurance Fund (DIF) $17.3 million.

The BankMeridian, N.A. of Columbia, S.C. had 3 branches with about $239.8 million in total assets and $215.5 million in total deposits as of March 31, 2011. . The FDIC estimates the closure will cost the Deposit Insurance Fund (DIF) $65.4 million.

(7/23/11)- In our item dated 7/13/11 below we wrote: " Last year there were 19 banks that failed that had over a billion dollars in assets, while there have been only three with over a billion in assets that have failed so far this year." Well with the closing of 3 more banks on Friday by banking regulators bringing the total to 58 closed banking institutions so far this year, include one more in the over billion category.

The 17 branches of Bank of Choice, of Greeley, Colorado had a total of $1.07 billion in assets and $924.9 million in deposits as of March 31, 2011. Its closure will cost the Deposit Insurance Fund (DIF) $213.6 million.

The 2 branch Southshore Community Bank of Tampa, Florida and the 6 branch LandMark Bank of Sarasota, Florida were also closed on Friday by banking regulators. Southshore had about $46.3 million in total assets and $45.3 million in total deposits as of March 31, 2011. Its closure will cost the DIF will be $8.3 million.

Landmark had total assets of about $275.0 million and $246.7 million in total deposits as of March 31, 2011. Its closure will cost the DIF $34.4 million.

(7/16/11)- Banking regulators announced the closing of two more banks late Friday night bringing the total number of closures this year to 55.

The 6 branch First Peoples Bank of Port Saint Lucie, Florida had about $228.3 million in total assets and $209.7 million in total deposits as of March 31, 2011. It failure will cost the Deposit Insurance Fund $7.4 million.

The one branch Summit Bank of Prescott, Arizona had $72.0 million in total assets and $66.4 million in total deposits as of March 31, 2011. Its failure will cost the Deposit Insurance Fund $11.3 million.

(7/16/11)- Two Georgia banks were closed on Friday by banking regulators, bringing the total number of closures so far this year to 53. The closed banks were the High Trust Bank of Stockbridge, Georgia, and the One Georgia Bank of Atlanta Georgia. All three branches of the two closed banks will reopen during their normal business hours beginning Saturday as branches of Ameris Bank of Moultrie, Georgia.

As of March 31, 2011, High Trust Bank had total assets of $192.5 million and total deposits of $189.5 million. One Georgia Bank had total assets of $186.3 million and total deposits of $162.1 million.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF)) will be $66.0 million for the failure of the High Trust Bank and $44.4 million for the failure of the One Georgia Bank.

(7/13/11)- Not only are the number of banks that are failing decreasing from the previous year, the size of the banks that are failing are smaller than last year also. Last year there were 19 banks that failed that had over a billion dollars in assets, while there have been only three with over a billion in assets that have failed so far this year.

In the first half of this year, the estimated cost to the FDIC's Deposit Insurance Fund was 20.5 cents for every dollar in failed-bank assets, down from 24.1 cents a year earlier.

(7/10/11)- With the closing on Friday of 3 more banks by banking regulators, the toll for the year now stands at 51 bank closures compared to the total of 157 banks that were closed in 2010.

Signature Bank of Windsor, Colorado had three branches with $66.7 million in total assets and $64.5 million in total deposits as of March 31, 2011. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF)) will be $22.3 million.

Colorado Capital Bank of Castle Rock, Colorado had seven branches with $717.5 million in total assets and $672.8 million in total deposits as of March 31, 2011. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF)) will be $283.8 million.

First Chicago Bank & Trust of Chicago, Illinois had seven branches with $858.3 million in total assets and $887.5 million in total deposits as of March 31, 2011. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF)) will be $284.3 million

(7/2/11)- No banks were closed on Friday by financial regulators, thus leaving the total number of closings so far this year at 48 compared to the total of 157 closures for all of 2010. These figures show how the situation is indeed improving.

Sheila C. Bair, the present chairwoman of the FDIC will be stepping down from that position on July 8^th to be replaced by Martin J. Gruenberg, the vice-chairman. Ms. Bair steered the agency through one of the most difficult periods in its history, and should be highly commended for her leadership and willingness to take on the vested interests who opposed her.

(6/26/11)- With the closing on Friday by banking regulators of the two branches of the Mountain Heritage Bank of Clayton, Georgia, the total number of banks closed so far this year stands at 48.

As of March 31, 2011 Mountain Heritage Bank had about $103.7 million in total assets and $89.6 million in total deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $41.1 million.

(6/19/11)- Banking regulators closed down 2 more banks Friday evening bringing the total amount of financial institutions closed so far this year to 47 versus the 157 closed in 2010.

The 4 branch McIntosh State Bank of Jackson, Georgia had about$339.9 million in total assets and $324.4 million in total deposits as of March 31, 2011.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $80.0 million.

First Commercial Bank of Tampa Bay, Tampa Bay, Florida had 2 branches with about $98.6 million in total assets and $92.6 million in total deposits as of March 31.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $28.5 million

(6/14/11)- President Barack Obama announced that he would nominate Martin J. Gruenberg, the vice-chairman of the Federal Deposit Insurance Corporation to replace Sheila C. Bair, the present chairwoman who will be stepping down after 5 years in that position.

Mr. Gruenberg, a Democrat, has served as vice-chairman since 2005. Prior to that he worked for more than a decade as a senior counsel to former Senator Paul S. Sarbanes. There are currently two seats on the five-member board of the FDIC that are vacant. The Comptroller of the Currency holds one of those seats and the other is held by the head of the Consumer Financial Protection Bureau, both of which positions are currently unoccupied.

Under past tradition, the replacement of Mr.Gruenberg as vice-chairman will go to a Republican. Thomas J. Curry, a current member of the board of the FDIC is being considered to head the comptroller's office.

(6/5/11)- The three branch bank Atlantic Bank and Trust of Charleston, South Carolina became the 45^th financial institution closed by banking regulators so far this year. As of March 31, 2011 Atlantic had about $208.2 million in total assets and $191.6 million in total deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.4 million

(5/28/11)- The First Heritage Bank, Snohomish, Washington became the 44^th bank closed by banking regulators this year. The bank had 5 branches with $173.5 million in total assets, and $163.3 million in total deposits as of March 31, 2011.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $34.9 million.

(5/27/11)- The number of banks on the Federal Deposit Insurance Corporation's (FDIC) problem bank list increased by only 4 in the first quarter, bringing the total number to 888. That is the smallest increase since the financial crisis began and just another sign of how the nation's financial crisis continues to abate.

The banking industry posted a $29 billion profit in the first quarter, its best quarterly result since the financial crisis began, and a 67% increase from the $17.4 billion it reported in the same period in 2010.

There are now 7,574 financial institutions covered by the FDIC.

Revenues for the industry decreased by 3% over the same quarter last year, and this is only the second time in 27 years that this has happened.

At the end of the quarter the FDIC's insurance fund carried a negative balance of $1 billion, as opposed to the $7.4 billion that it stood in the red at the end of 2010.

Sheila C. Bair, the chairwoman of the FDIC said, "Barring unforeseen circumstances", the federal deposit insurance fund "balance at June 30 should turn positive, after 7 quarters in the red."

(5/23/11)- By the end of May last year, banking regulators had closed 78 banks. With the closure on Friday of 3 banks, the total number of bank closures this year has now reached 43. Yes that is still a very high number of bank closed but it does show the considerable improvement that has taken place in the banking system in the last year.

Summit Bank of Burlington, Washington, with 3 branches was closed on Friday. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $15.7. The bank had about $142.7 million in total assets and $131.6 million in total deposits as of March 31, 2011.

Atlantic Southern Bank of Macon Georgia and First Georgia Banking Company of Franklin, Georgia had 26 branches between the two of them with the resulting loss to the DIF being about $273.5 million for the Atlantic bank closure and $156.5 million for the First Georgia closing.

As of March 31, 2011, Atlantic had total assets of $741.9 million and total deposits of $707.6 million; and First Georgia had total assets of $731.0 million and total deposits of $702.2 million

(5/11/11)- Sheila C. Bair, announced that, effective July 8, she would be stepping down as chairwoman of the Federal Deposit Insurance Corporation (FDIC). President George W. Bush had appointed Ms.Bair to that position in 2006, but her stepping down came as no surprise since she previously had stated that she intended to remain in the position only until her term would expire.

"I don't think these jobs should be forever," she said in a brief interview on Monday. She presided over the agency through the difficult years since 2008, while the banking industry suffered through one of its most difficult periods since the savings and loan scandal of the 1970s.

Martin J. Gruenberg, who is currently the vice-chairman of the FDIC is expected to be nominated to replace her subject to a Senate confirmation process.

The last year and a quarter has seen over 200 banks fail, but hopefully the high tide for the failures is now passed.

Four of the country's top financial regulatory bodies currently do not have leaders. The vacancies are in the top spots at the Office of the Comptroller of the Currency; the Federal Housing Finance Agency, the Federal Reserve's vice chairman for bank supervision, a new post, and head of the Consumer Finance Protection Bureau (CFPB).

Elizabeth Warren was named as acting head of the CFPB, which was a newly created regulatory body under the recently passed Dodd-Frank law, but the Obama administration has not confirmed that it will seek to have her nominated for approval by the Senate for that position.

(5/7/11)- With the closure of the Coastal Bank, Cocoa Beach, Florida, the total number of closed banks this year reached 40. There were 157 banks that were closed by banking regulators last year, so it is clear at this point that there will be less banks closed this year than last.

Coastal had two branches with total assets of $129.4 million and total deposits of $123.9 million as of March 31, 2011.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $13.4 million.

(5/1/11)- Five more banks were closed on Friday by banking regulators, bringing the total number of failed banks to 39 so far this year.

First Choice Community Bank of Dallas, Georgia and The Park Avenue Bank of Valdosta, Georgia had a combined 19 branches with a combined total of $1,261.8 billion in assets and a combined total of $1,137.7 billion in deposits as of December 31, 2010.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for the combined banks will be $398.5 million.

The First National Bank of Central Florida, Winter Park, FL., and the Cortez Community Bank, a division of Premier American Bank, N.A. had a combined 8 branches with a total of $412.9 million of combined assets and $373.5 million of combined deposits as of December 31, 2010.

The FDIC estimated that the cost to the Deposit Insurance Fund (DIF) for the combined banks will be $61.5 million

The fifth bank that was closed was the Community Central Bank of Mount Clemens, Michigan, which had 4 branches with about $476.3 in assets and $385.4 million in total deposits as of December 31, 2010.

The FDIC estimated that the cost to the Deposit Insurance Fund (DIF) for the combined banks will be $183.2 million.

(4/17/11)- The total for this year now stands at 34 U.S. banks that have failed and counting. This compares with the 157 that closed in all of 2010. Of the six that were closed on Friday by banking regulators was one of the larger closures, namely the Superior Bank, based in Birmingham, Ala., with 73 branches, $3 billion in assets and $2.7 billion in deposits, as of December 31, 2010. Its failure will cost the Deposit Insurance Fund (DIF) $259.6 million.

The closing of Birmingham-based Nexity Bank, which had only one branch with $793.7 million in assets and $637.8 million in deposits, as of December 31, 2010 will cost the Deposit Insurance Fund (DIF) $175.4 million.

Bartow County Bank of Cartersville, Ga. had $330.2 million in assets and $305.1 million in deposits as of December 31, 2010 and 4 branches. Its closing will cost the Deposit Insurance Fund (DIF) $69.5 million.

New Horizons Bank in East Ellijay, Ga., had $110.7 million in assets and $106.1 in deposits as of December 31, 2010 and 2 branches. Its closing will cost the Deposit Insurance Fund (DIF) $30.9 million.

Also shut down was the Rosemount National Bank in Rosemount, Minn., with $37.6 million in assets and $36.6 million in deposits as of December 31, 2010 and one branch. Its closing will cost the Deposit Insurance Fund (DIF) $3.6 million. The sixth bank shut down was the Heritage Banking Group based in Carthage, Miss., with 8 branches, $224 million in assets and $196.2 in deposits as of December 31, 2010. Its closing will cost the Deposit Insurance Fund (DIF) $49.1 million.

(4/9/11)- Two more banks were closed by banking regulators on Friday, bringing the total number of bank closures to 28 so far this year.

Nevada Commerce Bank of Las Vegas, Nev. had two branches with about $144.9 million in total assets and $136.4 million in total deposits as of December 31, 2010. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.9 million.

Western Springs National Bank and Trust of Western Springs, Illinois had two branches with an estimated $186.8 million in total assets and $181.0 in total deposits as of December 31, 2010. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.9 million.$31.0 million.

(3/26/11)- As of January 31, the latest month for which figures are available, the Federal Deposit Insurance Corporation (FDIC) has paid out $8.89 billion to banks under loss-sharing agreements that shield buyers from some of the risk associated with loans inherited from banks that are taken over.

There are presently 236 such deals in place as of January 31, with the FDIC agreeing to assume most future losses on $160 billion in assets. FDIC officials expect to make an additional $21.5 billion in payments from 2011 to 2014.

More than half of that total is predicted for this year, followed by an estimated $6 billion in loss-share reimbursements in 2012. Most financial experts feel that the program saved the government from suffering much worse losses had it not been in effect.

The FDIC's deposit-insurance fund (DIF) had a negative balance of $7.4 billion as of December 31, which was a substantial improvement from the $20 billion hole it was in at the end of 2009.

So far this year, 11 of the failed 26 banks did not require any loan-loss sharing deals.

The 26^th bank to fail was The Bank of Commerce, Wood Dale, Illinois, which had only one branch. As of December 31, 2010, The Bank of Commerce had about $163.1 million in total assets and $161.4 million in total deposits. The FDIC estimates that this closure will cost the Deposit Insurance Fund (DIF) $41.9 million.

(3/14/11)- With the closure on Friday of two more banks by banking regulators, the total number of bank closures this year now stands at 26.

The First National Bank of Davis of Davis, Oklahoma had a single office with $90.2 in total assets and $68.3 in total deposits as of December 31, 2010. The FDIC estimates that this closure will cost the Deposit Insurance Fund (DIF) $26.5 million.

The Legacy Bank of Milwaukee, Wisconsin had one branch with total assets of $190.4 million, and total deposits of $183.3 million as of December 31, 2011. The FDIC estimates that this closure will cost the DIF about $43.5 million.

(2/27/11)- Valley National Bank, St. Charles, Illinois became the 24^th bank closed so far this year by banking regulators. The five branches had about $123.8 million in total assets and approximately $124.2 million in total deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $22.8 million

(2/25/11)- With the failure of 4 more banks on Friday, two of which were located in Georgia and two in California, the total number of banks closed by banking regulators stands at 22 for the year.

Charter Oak Bank, Napa, California had two branches with about $120.8 million in total assets and $105.3 million in total deposits as of December 31. 2010. The FDIC estimates that the cost to the DIF will be about $21.8 million.

San Luis Trust Bank, FSB, San Luis Obispo, California had one branch with about $332.6 million in total assets and $272.2 million in total deposits as of December 31, 2010. Its failure will cost the DIF about $96.1 million.

Habersham Bank, Clarkesville, Georgia had 8 branches with approximately $387.6 in total assets and $339.9 million in total assets as of December 31, 2010. The FDIC estimated that the cost to the Deposit Insurance Fund (DIF) will be $90.3 million.

Citizens Bank of Effigham, Springfield, Georgia had 4 branches with about $214.3 million in total assets, and $206.5 million in total deposits. The FDIC estimates that the cost to the DIF will be $59 million.

(2/19/11)- The 5-member Board of Directors of the Federal Deposit Insurance Corporation unanimously approved a final rule that will take effect on April 1, 2011 on Assessments, Dividends , Assessment Base and Large Bank Pricing. The rule implements changes to the deposit insurance assessment system mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

Dodd-Frank required that the base on which deposit insurance assessments are charged be revised from one based on domestic deposits to one based on assets.

The new fee structure will result in about 110 large banks covering about 80% of the premiums paid into the deposit insurance fund (DIF) each year, up frorm 70%. The fund is expected to collect about $14 billion in premiums this year, but because of the large number of bank failures in the last few years has been running at a deficit.

The new fee rule will not raise any additional money for the fund, but it will shift the collection of premiums to banks with more than $10 billion in assets and away from smaller banks.

The larger banks as a group will pay about 12 percent more in fees, but only about half of them will pay that increase, while the other half will see reduced premiums being assessed against them since low risk securities that they manage for large customers will not be included in the assessment.

Premiums for smaller banks are expected to be reduced on average, by about 30%. Only about 84 of the nations 7,661 smaller banks will have greater fees to pay under the new rule. Please see our item dated 11/18/10 below for more information on this topic.

(2/13/11)- Four more banks failed on Friday bringing the total amount of closures so far this year up to 18. The closed banks were located in California, Wisconsin, Michigan and Florida.

Sunshine State Community Bank of Port Orange, Florida had 5 branches with approximately $125.5 million in total assets and$116.7 million in total deposits as of December 31,2010. Its closure will cost the Deposit Insurance Fund (DIF) about $30.0 million.

Peoples State Bank, of Hamtramck, Mich. had 10 branches with about $390.5 million in assets and $389.9 million in total deposits as of December 31,2010. Its closure will cost the DIF $87.4 million.

Badger State Bank of Cassville, Wis. had one branch with approximately $83.8 million in total assets and $78.5 million in assets as of December 31,2010. Its closure will cost the DIF $17.5 million.

Canyon National Bank of Palm Springs Cal., had 3 branches with about $210.9 million in total assets and $205.3 million in total deposits as of December 31,2010. Its closure will cost the DIF $10.0 million.

(2/6/11)- Banking regulators closed three more banks on Friday, bringing the total number of closures this year up to fourteen. Two of the closures were in Georgia and the other one was in Illinois.

Community First Bank of Chicago, Illinois had one branch, which had about $51.1 million in total assets and an estimated $49.5 million in total deposits as of December 31, 2010. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be about $11.7 million.

The American Trust Bank of Roswell, Georgia had three branches that had an estimated $238.2 million in total assets and about $222.2 million in total deposits as of December 31, 2010. Its closure will cost the DIF about $71.5 million.

The BankSouth, Greensboro, Georgia had two branches with an estimated $153.2 million in total assets and $139.7 million in total deposits as of December 31, 2010. Its closing will cost the DIF an estimated loss of $35.2 million.

(1/30/11)- Eleven is now the total of bank closures in this country that have occurred as of Friday, January 28, 2011, compared to the 157 bank closings that took place in all of 2010. The four bank closings that took place were in Oklahoma, Wisconsin, New Mexico and Colorado.

The First State Bank, Camargo, Oklahoma had one branch, which had $43.5 million in total assets and $40.3 million in total deposits as of September 30, 2010. Its failure will cost the Deposit Insurance Fund (DIF) $20.1 million.

The Evergreen State Bank, Stoughton, Wisconsin had four branches, with total assets of about $246.5 million and total deposits of $195.2 million as of September 30, 2010. Its failure will cost the DIF $22.8 million.

The biggest failure this week was the First Community Bank, Taos, New Mexico, which had 38 branches, with total assets of $2.31 billion and total deposits of $1.94 billion as of September 30, 2010. Its failure will cost the DIF $260.0 million.

The fourth failed bank this week was the FirsTier Bank, Louisville, Colorado, which had total assets of $781.5 million and total deposits of $722.8 million as of September 30, 2010. Its failure will cost the DIF $242.6 million.

(1/23/11)- Four more financial institutions were closed on Friday by banking regulators. With these shutterings, it brings to 7, the number of bank closings so far this year.

The closing of The Bank of Asheville, Ashevelle, N.C., which had 5 branches with a total of $195.1 million in assets and $188.3 million in deposits, as of September 30, 2010 will cost the Deposit Insurance Fund (DIF) $56.2 million.

The closing of United Western Bank of Denver, Colorado., which had 8 branches with a total of $2.05 billion in assets and $1.65 billion in deposits, as of September 30, 2010 will cost the Deposit Insurance Fund (DIF) $312.8 million.

The closing of the Community South Bank and Trust, Easly, South Carolina., which had 6 branches with a total of $440.6 million in assets and $402.4 million in deposits, as of September 30, 2010 will cost the Deposit Insurance Fund (DIF) $46.3 million.

The fourth bank that was closed was the Enterprise Banking Company, McDonough, Georgia which had assets of $100.9 million as of September 30, 2010. No other financial institution assumed either the assets or deposits of Enterprise, so it will go into the FDIC's portfolio.

(1/15/11)- Oglethorpe Bank of Brunswick, Georgia became the 3^rd bank closure of the year on Friday. Its two branches will reopen Monday morning as branches of Bank of Ozarks, Little Rock, Arkansas.

As of September 30, 2010, Oglethorpe Bank had approximately $230.6 million in total assets and $212.7 million in total deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $80.4 million.

(1/8/11)- Banking regulators began the year by closing 2 banks on Friday, with one of them being in Arizona and the other bank being in Florida. The final total for the number of banks closed by regulators in 2010 was 157, which surpassed by 17 the total amount of banks closed by regulators in 2009.

The closed bank in Arizona was the Legacy Bank, which was headquartered in Scottsdale, and it had 2 branches. Between the 2 branches they had $150.6 million in assets and $125.9 million in deposits. This failure will cost the Deposit Insurance Fund (DIF) $27.9 million.

The failed First Commercial Bank of Florida, which was headquartered in Orlando, had 9 branches with a total of $598.5 million in assets and $529.6 million in deposits. Its failure will cost the DIF $78 million.

(1/6/11)- The Federal Deposit Insurance Corporation (FDIC) announced that it has authorized its attorneys to seek to recover about $2.5 billion from 109 executives of failed U.S. banks.

The FDIC is permitted under the law to sue officers, directors, accountants and attorneys of failed banks for the losses that the deposit insurance fund incurs as a result of the failure of a financial institution.

The agency said it would pursue the cases "if they are both meritorious and cost-effective". Before doing so it would seek to settle the matter as expeditiously as possible.

(12/26/10)- It turns out that there were 6 banks, not 5 that were closed last Friday December 17^th by banking regulators. The sixth bank closed was the First Southern Bank located in Batesville, Ark. Thus the total number of bank closures this year now stands at 157.

(12/20/10)- Banking regulators closed 5 more banks on Friday, bringing the total number of closures so far this year up to 156 versus the 140 closures that took place in 2009. Three of the banks closed were in Georgia, and one each in Florida and Minnesota.

The 140 bank failures in 2009 cost the Deposit Insurance Fund (DIF) about $36 billion, while the 156 bank failures this year have cost the DIF about $21 billion, since the banks that failed this year, on a whole, have been much smaller than those that were closed in 2009.

(12/15/10)- The Office of Thrift Supervision said the nations 741 thrift institutions reported a $1.77 billion profit for the July-September quarter. That was up from the $1.49 billion reported in the 2^nd quarter and better than the $1.24 billion in the third quarter of 2009. This was the fifth quarter in a row that the nation's thrift had shown a profit.

The number of "problem" thrifts was at 53 at the end of the 3^rd quarter, up from 43 a year earlier, but down from 54 at the end of the 2^nd quarter.

(12/12/10)- With the closure on Friday of the Earthstar Bank headquartered in Southampton, PA, and the Paramount Bank of Farmington Hills, MI., the total number of banks that were closed in the U.S. this year now stands at 151. Each of the two closed banks had 4 branches.

The Earthstar closure will cost the Deposit Insurance Fund (DIF) $22.9 million, and the Paramount closure will cost the fund $90.2 million.

(11/26/10)- The FDIC announced that there are now 860 banks on its "problem bank" list as of the end of the September quarter, up from 829 at the end of the June quarter, and 775 at the end of the March quarter. Banking regulators have closed 149 banks so far this year, up from the 140 banks closed in all of last year.

The nation's 7,760 remaining banks made about $14.5 billion in the 3^rd quarter, ended September 30, 2010, which was up about $2 billion from the comparable quarter last year, but down sharply from the June quarter of this year. This drop resulted mainly from the reported $10.1 billion loss by Bank of America.

Almost two in three banks posted an improvement in quarterly earning results. It was the second quarter in a row that banks charged off fewer loans in nearly every category. Total loans and leases were essentially flat form a year ago.

The agency has recognized or projected about $80 billion in losses by the end of 2010, with an expected $20 billion more in losses from 2011 through 2014.

(11/18/10)- Under the terms of the Dodd-Frank financial overhaul legislation that was passed this year, the method of assessment of the fees paid to the Federal Deposit Insurance Corporation (FDIC) was changed to the asset base of the banks rather than the amount that a bank held under deposit.

The FDIC five-member board voted to take the initial steps to implement the new fee schedule, and it will go into effect on April 1, 2011.

Smaller banks are dependant on their depositors for funding whereas larger banks have access to other sources of funding, such as the commercial paper market, which for the first time, would count under the new formula.

According to FDIC officials this will mean that large bank's share of deposit-insurance premiums would rise to 80% from 70% under the new system. There are 19 banks covered by the FDIC with $100 billion in assets that will be hit the hardest by the increase.

Industry analysts estimate that the new method for the fee assessment will cost the larger banks over $1 billion in additional costs per year under the new law.

(10/22/10)- The Federal Deposit Insurance Corp. (FDIC) said that it now expected $52 billion in losses, down from the $60 billion that it had predicted in June.

As a result, the staff recommended that the FDIC board reverse its decision to levy a 0.03 percentage-point assessment rate increase, slated to go into effect January 1, 2011. Without the rate increase staffers predicted that the insurance fund could still reach a reserve ratio of 1.15% by the end of 2018.

The Dodd-Frank financial -regulation law requires that the FDIC devise a plan to bring the fund's reserve ratio to 1.35% by September 30,2020.

In a separate action, the board approved an initial plan to set the deposit-insurance fund's long-term designated reserve ratio at 2% ahead of any possible banking crisis.

(10/6/10)- FDIC data shows that bank-industry employment has been cut by 188,000 jobs, or 8.5% since 2007. Failures have cost 11,210 jobs, or 32% of the employees at failed institutions, according to FIG Partners, an Atlanta investment firm that specializes in the banking industry..

With the closure by banking officials of two more banks on Friday, the total number of bank closures this year has now reached 131, bringing the total very close to the 140 closures that took place in all of 2009.

Shoreline Bank, Shoreline, WA had all its deposits assumed by GBC International Bank of Los Angeles, CA., and Wakulla Bank, Crawfordville, FL., had all its deposits assumed by Centennial Bank, Conway, Ark.

(9/29/10)- Now it is the National Credit Administration, the U.S. agency overseeing credit unions, coming to the rescue of three of the nation's largest wholesale credit unions. To help fund the rescue, the National Credit Union Administration plans to issue $30 billion to $35 billion in government guaranteed bonds, backed by the mortgage-related assets of the wholesale credit unions.

Bad gambles on mortgage-backed securities have now killed five of the nation's 27 wholesale credit unions since March 2009. The federal government controls about 70% of the total assets at such credit unions.

Members United Corporate Federal Credit Union in Warrenville, Ill, Southwest Corporate Federal Credit Union of Plano, Tex, and Constitution Corporate Credit Union, Wallingford, Conn., which had a total of $19.67 billion in assets as of July, were taken into conservatorship by federal regulators.

Since the start of 2008, 66 retail credit unions have failed out of the 7,445 federally credit unions. Special assessments will be levied against the surviving credit unions.

Two more banks were closed this past Friday by banking regulators, bringing the total number of bank closures this year to 127.

(9/13/10)- The Federal Deposit Insurance Corporation (FDIC) has closed on a sale of a 40% equity interest in a limited liability company (LLC) created to hold assets with an unpaid principal balance of about $762 million from 20 failed bank receiverships. The winning bidder of the Multibank Structured Transaction (MST) is Mariner Real Estate Partners, LLC, Leawood, Kansas, with a price of 30.93% of the unpaid principal balance.

As an equity participant, the FDIC will retain a 60% stake in the LLC, and share in the returns on the assets. The FDIC as receiver for the failed banks will convey to the LLC a portfolio of about 1,082 distressed residential and commercial acquisition and development loans, of which more than 80% are delinquent.

As the LLC's managing equity owner, Mariner will manage, service and ultimately dispose of the LLC's assets.

(9/11/10)- The Horizon Bank, Bradenton, FL, became the 119^th bank closed this year by banking regulators. Most of its $187.8 million in assets, and all of its $164.6 million in deposits were assumed by the Bank of the Ozarks, Little Rock, Ark. The FDIC and the Bank of the Ozarks entered into a loss-share transaction on $150 million of the assets.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $58.9 million

(9/7/10)- For the second week in a row, no banks were closed by banking regulators Friday, leaving the total amount of closures so far this year at 118.

The FDIC announced that there are now 829 banks on its problem list, up from 775 at the end of the March quarter. As of June 30^th, the FDIC oversaw a total of 7,828 banks, which was a drop of 104 banks from the 7,932 it oversaw as of the end of the previous quarter. For the first time in the 38 years that the data has been collected, the FDIC did not add any new banks in the quarter..

For the first time since 2006 the number of loans at least three months past due fell, and the number of loans charged off by banks declined across most major loan categories. Banks set aside a total of $40.3 billion to cover future loan losses, and this is the lowest figure reported by the banks in the last two years.

(8/29/10)- Banking regulators did not close any banks on Friday afternoon, so the total bank closure number still stands at 118 so far this year. This is not an indication that the majority of bank closures for the year is behind us because this is not the reality of the situation.

There are a total of 7,932 bank and savings associations covered by the FDIC, of which 775 were on the problem bank list as of the end of March.

(8/16/10)- For the second time in two weeks an Illinois bank was the sole weekly casualty among FDIC insured bank failures in this country, bringing the total number so far this year up to 110. There have been 14 bank failures in Illinois so far this year.

The FDIC took over the Palos Bank & Trust Company, based in Palos Heights, Ill, with $493.4 million in assets, and $467.8 million in deposits. First Midwest Bank, based in Itasca, Ill., agreed to assume the assets and deposits of the Palos Bank.

The failure of Palos Bank is expected to cost the Deposit Insurance Fund (DIF) $72 million.

(7/20/10)- The FDIC's board voted 5-0 to approve an agreement between the agency and regulators at the Federal Reserve Board and the Treasury Department's Office of the Comptroller of the Currency, and it's Office of Thrift Supervision that expanded the FDIC's power to investigate banks. This agreement updated the prior agreement between these same parties that was signed in 2002.

The FDIC claimed that it lacked the power under the older agreement to gain access to banking data that was needed to properly evaluate the banks' risk

The Fed and the two Treasury Department agencies have the primary authority to regulate banks. The FDIC steps in after a bank failed under the old agreement.

Under the 2002 agreement the FDIC conducted special exams of banks at the same time as the periodic reviews by their primary regulators. The FDIC was blocked from examining banks that were deemed financially sound by their primary regulators.

(6/21/10)- Federal regulators seized the Nevada Security Bank, based in Reno, Nev., making it the 83^rd bank taken over so far this year. By this time last year the federal government had seized 40 banks. There were 140 bank failures in 2009 that cost the government about $30 billion. This failure will cost the Deposit Insurance Fund (DIF) about $80.9 million.

There are a total of 7,932 bank and savings associations covered by the FDIC, of which 775 are on the problem bank list as of the end of March.

Umpqua Bank, based in Roseburg, Ore., agreed to assume the $490.3 million in assets and $479.8 million in deposits of the failed bank. Nevada Security has 5 bank branches, all of which will stay open under the Umpqua name.

The FDIC and Umpqua agreed to share losses on $368.2 of Nevada Security Bank's loans and other assets.

The FDIC estimated that the cost of resolving this current banking crisis would cost about $100 billion over the next 4 years. Banks have already prepaid their premiums required by the FDIC for the years 2010 through 2012 to replenish the fund, but this clearly will not be enough to cover the shortages that will be coming with the additional bank failures

(6/4/10)- The state that has seen the most bank failures so far this year is Georgia, which has had 38 bank failures as of May 28. This represented 12.8% of all the banks in the state. Illinois has had 33 failures, which represents only 5.4% of all banks in that state. Here's a list of the top seven other states as far as number of bank failures go, with the percentage of banks in the state in parenthesis according to figures released by the FDIC:

Florida-29 (10.6%); Calif.-27 (9.5%); Minn.- 13 (3.2%); Missouri- 9 (2.6%); Washington State-9 (1-.5%); Mich.- 8 (5.8% and Texas- 8 (1.3%)

(5/30/10)- Five banks were closed on Friday by federal regulators bringing the total number of bank failures this year to 78. By this time last year, the regulators had closed 36 banks. Twenty-five banks failed in 2008 and only 3 went under in 2007.

The three Florida banks that were taken over were owned by a holding company, Bank of Florida Corp. The FDIC also seized the Las Vegas-based Sun West Bank, and the Granite Community Bank, located in Granite Bay, Calif.

The failures of the 3 Florida banks are expected to cost the FDIC a total of $203 million, while the other two bank failures will cost a total of $114 million. There have been a total of 13 Florida banks that have been closed by the FDIC so far this year. Six California banks have been closed so far this year.

The 140 bank failures in 2009 cost the FDIC insurance fund more than $30 billion. The fund's deficit, as of the end of March this year, was $20.7 billion. The agency estimates that the cost of the bank failures over the next 4 years will come to over $100 billion. Last year, the FDIC mandated that the banks in the system prepay an estimated $45 billion in premiums covering the period 2010 through 2012.

(5/22/10)- The Federal Deposit Insurance Corporation had a total of 775 banks on its "problem" list at the end of the first quarter this year, which is up from the 702 that were on the list at the end of 2009. This represents slightly less than 10% of the banks covered by the agency.

The total number of loans from the banks that were at least 3 months in arrears climbed for the 16^th consecutive quarter. At the end of 2008, there were 252 banks on the "problem" list.

"The banking system still has many problems to work through, and we cannot ignore the possibility of more financial-market volatility," said FDIC Chairman Sheila Bair. Had it not been for certain accounting changes, bank lending would have declined for the seventh straight quarter.

Ms. Bair went on to say that she does not expect that the agency will have to assess new fees on the banks covered by the FDIC.

(5/8/10)- Florida, Minnesota, Arizona and California were the states where federal regulators closed more banks on Friday, bringing the total bank closures this year to 68. So far this year the closure rate is running about double the 140 bank closures of last year.

The banks closed Friday were: The Bank of Bonifay, based in Bonifay, Fl; the Access Bank, based in Champlin, Minn.; Towne Bank of Arizona, based in Towne, Ariz.; 1^st Pacific Bank of California in San Diego; and First Federal Bank of Florida in Lake City, Fl

(4/25/10)- The state of Illinois took it on the chin Friday as federal regulators closed 7 banks, all of which were located in that state. That brings the total bank closure count so far this year to 57.

The Federal Deposit Insurance Corporation (FDIC) took over 4 of the banks located in Chicago, while the other 3 banks were spread out throughout the state. The MB Financia Bank agreed to acquire the deposits of both Broadway Bank of Chicago, and the New Century Bank, which was also headquartered in Chicago.

Republic Bank of Chicago agreed to assumed the deposits of the Citizens Bank & Trust Company of Chicago, while Harris National Association of Chicago agreed to acquire Amcore Bank, N.A. of Rockford, Ill.

Northbrook Bank & Trust Company of Northbrook agreed to acquire the deposits of Lincoln Park Savings Bank, First Midwest Bank of Ithaca agreed to acquire the deposits of Peotone Bank & Trust Company and Wheaton Bank & Trust will acquire the deposits of Wheatland Bank.

The total cost to the FDIC will be about $1 billion.

(3/28/10)- Bringing the number up to 41 banks shut so far this year, federal regulators shut down 4 more banks on Friday. Two of the shut banks were located in Georgia and one each in Florida and Arizona.

The Arizona bank that was shut down was the Desert Hills Bank, based in Phoenix. New York Community Bank, based in Westbury, N.Y., is assuming the assets and deposits of the Desert Hill Bank.

The FDIC announced that it would be guaranteeing only 80% of potential loan losses, down from as much as 95% on soured loans covered by the agreements reached with buyers of collapsed banks.

(3/15/10- A New York City bank became the 27^th bank failure in the nation, when state regulators shut down LibertyPointe Bank, which had one branch in Manhattan and two in Brooklyn. The failure was the first one in the city in more than a decade.

In mid-July, federal regulators had ordered the bank to stop lending to developers and to raise cash.

State regulators, after closing the bank turned it over to the Federal Deposit Insurance Corp. The FDIC in turn reached a deal with Valley National Bank which will assume LibertyPointe's deposits of about $210 million. LibertyPointe had over $2 billion in loans on its book.

The FDIC estimated that the rescue would cost its insurance fund $24.8 million.

Valley National has over 200 branches, and the 3 LibertyPointe branches will open on Monday with the name of Valley National on its doors.

The last bank failure in New York State occurred five years ago when state regulators closed the Waterford Village Bank, based in Williamsville near Buffalo, in July.

The last failure of a New York City-based bank occurred in December 1999, when regulators closed Golden City Commercial Bank, a small bank that had an office in Flushing, Queens, and one on Lower Broadway in Manhattan.

(3/7/10)- Twenty-six and counting. With the closure on Friday of 4 more banks, the total for 2010 now stands at 26, and unfortunately we are well on our way towards surpassing last year's total of 140 bank closures in this country.

The banks that were closed this past week were located in Florida, Illinois, Maryland and Utah.

The FDIC is continuing with its program of auctioning off some of the assets of the banks that have been seized this year as some semblance of normality is returning to the mortgage market.

(3/2/10)- As of the end of 2009 the Federal Deposit Insurance Corporation (FDIC) carried a negative balance of $20.9 billion. According to the latest FDIC report banks wrote down $53 billion in loans in the final three months of last year. That quarterly write-off rate was the largest ever recorded in the 26 years that the FDIC has collected the data.

Bad credit card, mortgage and corporate loans escalated in the last quarter last year for the 12^th consecutive quarterly increase, even though it did show that the rate of write-off was slowing down.

In September, the FDIC ordered banks to prepay quarterly assessments that would have been due through 2012. That provided an additional $46 billion to restore the fund to normal. The FDIC will add that money to the fund in small amounts over the next 13 quarters, so that the negative balance is not really as bad as it looks.

The agency also announced it would issue bonds backed by the assets of failed banks and give guarantees to the buyers of these bonds.

(2/21/10)- And the numbers keep growing!!!!!! Federal regulators seized four more banks on Friday, bringing the total to 20 banks taken over by the FDIC so far this year. The banks were located in Illinois, Texas, Florida and California.

It is now estimated that there will be about 175 bank failures this year compared to the 140 that failed last year.

(2/4/10)- Federal regulators shut down five more banks on Friday, bringing the total to 14 banks that have been shut by the fed so far this year. The failure of First Regional Bank in Los Angeles, with nearly $2.2 billion in assets, and $1.9 billion in deposits, is expected to cost the FDIC fund $825.5 million.

Financial experts expect to see more than the 140 bank closures that took place in 2009 to happen this year.

(1/19/10)- The number of banks that were closed last year was the highest number closed in a year since 1992, at the height of the savings and loans banking disaster.

(1/15/10)- By a 3 to 2 vote, the Federal Deposit Insurance Corporation's Board of Directors approved at its meeting on January 12^th the initiation of the procedurel that would tie the fees banks pay the agency for deposit insurance to the risk profile of the compensation packages for executives of the bank.

Banks with compensation packages that the FDIC views as less risky, such as those that allow claw back pay from executives could be given a break on fees that they pay to the agency. Banks that have pay packages that the agency views as giving officials an incentive to put the bank at more risk would pay a higher fee to the agency.

Banks presently pay a higher fee if they are in weaker financial shape, accept large amounts of high-risk deposits, or rely too heavily on funding from the Federal Home Loan Banks.

(12/25/09)- The Federal Deposit Insurance Corporation was created in 1933 during the Great Depression. It is presently one of four agencies that oversee the banking system. The agency has continued to function today with just about the same powers it has had for all these years.

With the large outcry to change the way the financial industry is regulated, the pressure is growing to change the power that the FDIC has over the financial industry.

Connecticut Senator Christopher Dodd, the Democratic chairman of the Senate Banking Committee is proposing the revocation of the agency's ability to monitor the operations of banks. The FDIC would not have any jurisdiction under his proposals until after a bank fails.

There are about 5,000 banks overseen by the agency, which can create a conflict with the Federal Reserve which also monitors much of the operational side of the banking industry. It will add more than 1,600 new staffers next year, and is pushing its budget up 35% as the number of failing banks continues to grow.

Its inventory of assets in liquidation has more than doubled from the beginning of the year to $36.8 billion through the end of November. Its 2010 operating budget will increase to $4 billion of which about $2.5 billion will go towards its bank failure operations.

The additional staffers will bring the total to about 8,600 in 2010, with almost all of the new hires being taken on as temporary staff.

(12/12/09)- Federal regulators closed three banks on Friday. This brings the total bank closures so far this year to 133. Please keep in mind that there are over 550 banks on the FDIC's "problem bank" list, so that there will be many more bank closures before the current crisis in the banking system comes to a conclusion.

Also keep in mind that the FDIC's insurance fund, at last count, had a negative credit balance of $8.2 billion at the end of the last quarter.

The 133 bank failures are the most in a year since 1992. They have cost the federal deposit insurance fund more than $28 billion so far this year.

(12/7/09)- Regulators closed 6 more banks on Friday bringing the total bank closures to 130 so far this year. The AmTrust Bank in Ohio was among the banks closed, and it is the fourth-largest bank to fail so far this year.

The FDIC took over AmTrust, which is based in Cleveland Ohio, with about $12 billion in assets and $8 billion in deposits. Its failure is expected to cost the federal deposit insurance fund about $2 billion.

(11/30/09)- The Federal Deposit Insurance Corporation reported that banks posted a $2.8 billion gain in the third quarter of the year ended September 30^th, 2009, after a $4.3 billion loss in the previous quarter.

The number of "problem banks" increased however to 552, from 416 in the second quarter. Every category of bad loans, from credit cards, to mortgages, to small business and commercial real estate continued to increase, with the rate of increase decreasing from the prior quarter.

"The credit adversity we have been discussing for some time remains with us, and we expect it will be a couple of more quarters before we see a meaningful improvement in that trend," said Sheila C. Bair, the FDIC chairwoman. "I am optimistic that if we address these problems head on, we will see clear signs of improvement in bank earning and lending in 2010.

The fund had a negative balance of $8.2 billion at the end of the quarter, which was the first negative balance for it since 1992 when the agency had to clean up the savings and loan debacle.

The agency recently approved plans calling for the industry to lend money to the insurance fund by ordering banks to prepay annual assessments that would otherwise have been due through 2012.

This move is expected to add $45 billion to the fund, which stood at $34.6 billion a year ago.

Over all, banks charged off $50.8 billion in the third quar4ter, or 2.71 percent of assets. Bank lending dropped by the largest percentage since the government began keeping this statistic in `981.

The bulk of the fund's negative $8.2 billion stem from money that regulators set aside to cover future failures, allowing it to operate in the red.

FDIC officials expect that bank failures will cost the insurance fund $100 billion over the next five years. More than half of that cost has already been accounted for, while the new prepayment plan is expected to cover the rest.

In the worst case scenario, the FDIC can borrow from its backup credit with the U.S. Treasury.

FOR AN INFORMATIVE AND PERSONAL ARTICLE ON PRACTICAL SUGGESTIONS WHEN SELECTING A NURSING HOME SEE OUR ARTICLE "How to Select a Nursing Home"

by Allan Rubin
updated October 14, 2019

http://www.therubins.com

To email- haroldrubin212@gmail.com or allanrubin4@gmail.com

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