Using cutting edge research, this blog predicts and comments on the probability of failure for the nearly 7000 regulated banks monitored by the Federal Reserve. While most depositors may be protected by the FDIC, the importance of bank survival is still very important to bank clientele with lines of credit, mortgages, loans or other forms of financing. We seek to inform people that they might be at risk.
Friday, April 6, 2012
No New Failures
As of 11:45 pm EST there have been no bank failures. The Bank Blog will be updated throughout the evening as new information arrives.
Sunday, April 1, 2012
95th ranked Fidelity Bank of
Dearborn, Michigan, was closed today by the Michigan Office of Financial
and Insurance Regulation. The Huntington
National Bank of Columbus, Ohio, agreed to assume the approximately $818.2
million in total assets and $747.6 million in total deposits. Huntington is a relatively weak bank itself. It ranks 468th worst on the current list. This is the second failed bank purchase for the bank having previously acquired Warren Bank of Warren, Michigan in October, 2009. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF)
will be $92.8 million.