Charting Stocks

The Federal Deposit Insurance Corporation (FDIC)  seized 3 more banks over the weekend bringing the total bank failures for 2009 to 40. One bank was in North Carolina, another in Georgia, and the third was in Kansas.
The FDIC was appointed receiver of Cooperative Bank of Wilmington, N.C., Southern Community Bank of Fayetteville, Ga., and First [...]

Bank of Lincolnwood, Lincolnwood, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
The total number of bank failures now stands at 37 for the year.
Republic Bank of Chicago, Oak Brook, Illinois, Assumes All of the Deposits [...]

Number 17 for 2009; 42nd Since Depression Began
Freedom Bank of Georgia, Commerce, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Northeast Georgia Bank, Lavonia, Georgia, to assume [...]

Security Savings Bank: 16th Bank Failure of 2009

Security Savings Bank of Henderson, Nevada  was closed by regulators Friday, marking the 16th bank failure of 2009. The Federal Deposit Insurance Corporation said the failed bank’s deposits have been assumed by Las Vegas-based Bank of Nevada. Security Savings Bank had $238.3 million in total assets and $175.2 [...]

Much has been made about the so-called bank stress tests which are being conducted by the US treasury though the government has revealed little or no information on what the test might entail.
Tim Geithner has described the stress test only as “a more consistent, realistic and forward looking assessment about the risk on balance sheets,” [...]

Oregon’s Silver Falls Bank was closed Friday by the Oregon Department of Consumer and Business Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
The Federal Deposit Insurance Corporation entered into a purchase and assumption agreement with Citizens Bank, which will assume all of the deposits of the failed Silver Falls bank. Silver Falls [...]