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, October 24, 2014
Top Bank Fails
The number one bank on the most recent list, National Republic Bank of Chicago of Chicago, Illinois, was closed
today by state regulators. Much larger than other recent bank failures, the National Republic Bank of Chicago had
approximately $954.4 million in total assets and $915.3 million in total
deposits. State Bank of Texas (6488th) based in Dallas, has agreed to assume all of deposits as well as having agreed to purchase
approximately $626.1 million of the failed bank's assets. The FDIC will
retain the remaining assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $111.6 million.