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1,000 Banks to Fail In Next Two Years: Bank CEO

 
WatchmanOntheWall
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08/28/2009 07:21 AM
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1,000 Banks to Fail In Next Two Years: Bank CEO
1,000 Banks to Fail In Next Two Years: Bank CEO
Published: Thursday, 27 Aug 2009 | 10:29 PM ET Text Size
By: Natalie Erlich
Writer/Producer

The US banking system will lose some 1,000 institutions over the next two years, said John Kanas, whose private equity firm bought BankUnited of Florida in May.

“We’ve already lost 81 this year,” Kanas told CNBC. “The numbers are climbing every day. Many of these institutions nobody’s ever heard of. They're smaller companies.” (See the accompanying video for the complete interview.)

Failed banks tend to be smaller and private, which exacerbates the problem for small business borrowers, said Kanas, who became CEO of BankUnited when his firm bought the bank and is the former chairman and CEO of North Fork bank.

“Government money has propped up the very large institutions as a result of the stimulus package,” he said. “There’s really very little lifeline available for the small institutions that are suffering.”

[link to www.cnbc.com]
And we know that the Son of God has come and has given us an understanding, that we may know Him who is true; and we are in Him who is true, in His Son Jesus Christ. This is the true God and eternal life. 1 John 5:20
Faction4

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08/28/2009 07:43 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
2 Years?

What about 2 months?!
WatchmanOntheWall (OP)

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08/28/2009 07:44 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
2 Years?

What about 2 months?!
 Quoting: Faction4


No kidding we can't trust any of these politiks!
And we know that the Son of God has come and has given us an understanding, that we may know Him who is true; and we are in Him who is true, in His Son Jesus Christ. This is the true God and eternal life. 1 John 5:20
Anonymous Coward
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08/28/2009 07:51 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
bump
Anonymous Coward
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08/28/2009 08:08 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
Bank Failures just getting started: S-Curve Analysis-

[link to newsusa.myfeedportal.com]
WatchmanOntheWall (OP)

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08/28/2009 08:11 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
Somethings about to go down. Whats the stock market lookin like today I haven't checked
And we know that the Son of God has come and has given us an understanding, that we may know Him who is true; and we are in Him who is true, in His Son Jesus Christ. This is the true God and eternal life. 1 John 5:20
WatchmanOntheWall (OP)

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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
Aug 27, 2009
US banks lose $5.4b in Q2

WASHINGTON - THE US banking industry lost a collective US$3.7 billion (S$5.36 billion) in the second quarter amid heavy writedowns and provisions for bad loans, the government's insurance agency said on Thursday.

The Federal Deposit Insurance Corporation (FDIC), which insures bank and thrift deposits, said the sector swung to a loss compared with a profit of 4.8 billion dollars in the same period of 2008.

'While challenges remain, evidence is building that the US economy is starting to grow again,' said FDIC chair Sheila Bair.

'Banking industry performance is - as always - a lagging indicator. The banking industry, too, can look forward to better times ahead. But, for now, the difficult and necessary process of recognising loan losses and cleaning up balance sheets continues to be reflected in the industry's bottom line.'

The FDIC's quarterly survey showed provisions for loan losses totaled US$66.9 billion, an increase of US$16.5 billion or 32.8 per cent over the second quarter of 2008.

Losses stemming from writedowns of asset-backed commercial paper totaled US$3.6 billion, compared to writeoff of US$366 million a year earlier.

At the end of June, there were 416 insured institutions on the FDIC 'problem list,' up from 305 on March 31 and the largest since 1994.

Total reserves of the FDIC's insurance fund stood at US$42 billion at the end of the quarter.

Funds set aside for its contingent loss reserve rose to US$32 billion as of June 30, reflecting higher actual and anticipated losses from failed institutions.

Bair said the agency still had US$22 billion of cash and US Treasury securities available as of June 30, as well as the ability to borrow up to US$500 billion from the Treasury.

'A decline in the fund balance does not diminish our ability to protect insured depositors,' she noted. -- AFP

[link to www.straitstimes.com]
And we know that the Son of God has come and has given us an understanding, that we may know Him who is true; and we are in Him who is true, in His Son Jesus Christ. This is the true God and eternal life. 1 John 5:20
Anonymous Coward
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08/28/2009 08:46 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
Somethings about to go down. Whats the stock market lookin like today I haven't checked
 Quoting: WatchmanOntheWall


futures up a bit.
9teen.47™

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08/28/2009 09:15 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
lovecomm band There may be trouble ahead...whistleviolin



whistleviolin Hey buddy, can you spare a dime...
Zec 12:3 And in that day will I make Jerusalem a burdensome stone for all people: all that burden themselves with it shall be cut in pieces, though all the people of the earth be gathered together against it.
Psa 9:17 The wicked shall be turned into hell, [and] all the nations that forget God.
Jer 6:2 I have likened the daughter of Zion to a comely and delicate [woman].
STOCK UP NOW. You should have at least 6 months worth of basics for every member of your household. Stay away from crowds when trouble starts, do not forget water storage, tobacco is worth more than gold or silver, and be kind to hungry children.
Anonymous Coward
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08/28/2009 09:36 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
bump
Anonymous Coward
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08/28/2009 09:55 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
It's even worse than that. I saw an article today that one analyst said several thousand more banks may fail in the next two years. Batten down the hatches!
WatchmanOntheWall (OP)

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08/28/2009 10:02 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
I meant to post this in here my mistake.



Obama's Spending Spree, Budget Numbers "Have All Gone Mad," Analyst Says

Posted Aug 27, 2009 09:00am EDT by Heesun Wee in Investing, Products and Trends, Recession, Autos, Housing
Related: ^DJI, ^GSPC, WMT, TGT, ROST
When retail expert and all-around economy watcher Howard Davidowitz appeared on Tech Ticker in February declaring the worst was yet to come for the U.S. economy and that Americans' standard of living has changed permanently, our comment boards lit up.

But surely with the latest rally off the March lows, bearish Davidowitz is more bullish, right? Not a chance. Look at your financial history books.

Two of the biggest rallies of more than 40 percent occurred during the Great Depression, says Davidowitz of Davidowitz & Associates,a retail consulting and investment banking firm. "People were sucked in and ultimately were destroyed," he says. It's a warning to today's investors, who are hoping to extend the rally.

Don't get Davidowitz started on the economy or fundamentals. "Barack Obama's numbers have all gone mad," Davidowitz says. The Obama administration recently announced the U.S. budget deficit will be $9 trillion during the next decade; $2 trillion higher than the original forecast.

And, the proposed price tag for health-care reform? "Minimum $3 trillion," Davidowitz says. "One trillion? Are you kidding?"

Stimulus binges? Roller coaster equity performance over years? Stubborn consumers holding out for sales as deflationary pressures loom over the recovery? Sounds like the U.S. economy is turning Japanese, Davidowitz says.

Stock markets are manipulated!!!
Watch video click on link:
[link to finance.yahoo.com]
And we know that the Son of God has come and has given us an understanding, that we may know Him who is true; and we are in Him who is true, in His Son Jesus Christ. This is the true God and eternal life. 1 John 5:20
WatchmanOntheWall (OP)

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08/28/2009 12:56 PM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
BANKING
FDIC bank insurance fund shrinking; concern grows as failures continue
The fund stands at $10.4 billion, its lowest point since 1993. Some speculate that the agency will have to tap its line of credit or, worse, seek taxpayer money to cover expected future losses.

By Jim Puzzanghera and E. Scott Reckard
August 28, 2009

Reporting from Orange County and Washington - Today is Failure Friday, the grim point each week when federal regulators typically seize the latest round of most-troubled banks. Expect more bad news in the Fridays to come, even though the economy shows signs of improving.

U.S. banks lost a combined $3.7 billion in the second quarter, and the 81 failures this year have reduced the federal fund that insures deposits to its lowest level since 1993, when the fiasco in the savings and loan industry was drawing to a close.

Some analysts speculate that the Federal Deposit Insurance Corp. will have to tap its $500-billion line of credit or, worse, seek taxpayer money to cover expected future losses. Regardless of where the agency gets the rescue money, its chairwoman sought Thursday to reassure Americans that their deposits were in no danger.

"The FDIC was created specifically for times such as these," Sheila C. Bair said. "Our resources are strong. Your insured deposits are safe."

But that doesn't mean your bank is safe.

The FDIC has opened a facility in Irvine where more than 400 employees, most of them newly hired, plan to work for three to five years closing banks in the western United States and disposing of their bad assets. The offices are in a 15-story tower that had sat empty since developer Irvine Co. completed it last year as part of the Irvine Spectrum complex.

Bair warned of many more failures as banks move beyond the housing collapse to deal with problems caused by troubles in the commercial real estate market and the continued effect of high unemployment. That will keep regulators busy Friday evenings, a time they prefer for taking down failed institutions so they have the weekend to usher in new management and get branches ready to reopen Mondays.

"Loans are going bad because people are losing their jobs or their businesses are closing down, or people aren't traveling and staying in hotels," Bair said.

"Banks typically are a lagging indicator, so even as the economy rebounds, you'll probably still see a continuing increase in bank failures."

James Chessen, chief economist for the American Bankers Assn., said that banks "are neither at the beginning nor the end of the problems presented by a difficult economy. They are in the middle, and significant challenges still remain."

He stressed that 96% of banks were deemed "well capitalized" by regulators.

But the FDIC has estimated that bank failures now through 2013 could cost its insurance fund about $65 billion.

Many of those failures will come from banks the FDIC has identified as "problem institutions." That figure continues to swell -- to 416 in the second quarter from 305 in the first. It is the largest number of banks in danger of failing since 1994.

Those problem institutions, which the FDIC does not publicly identify for fear depositors would rush to take out their money, had a total of $300 billion in assets.

The amount of expected losses is troubling because the insurance fund, which covers accounts up to $250,000, has been depleted badly by earlier bank failures.

The fund's balance plunged 20% in the second quarter to $10.4 billion. That was its lowest level since 1993 and came before 36 more banks collapsed this summer. At the end of June last year, the fund had $45.2 billion.

To avoid tapping into its line of credit at the U.S. Treasury, the FDIC this year raised the assessments it charges banks to furnish the insurance backstop. Banks pay about $12 billion a year in premiums, and the increased assessments added nearly $6 billion in the second quarter.

Bair said the fund was in better shape than it appeared. The FDIC has set aside an additional $32 billion to cover losses at banks expected to fail over the next year, she said. For example, the failure of Colonial Bank in Montgomery, Ala., this month was estimated to cost the FDIC $2.8 billion, but the loss was anticipated as part of money set aside for future failures and did not reduce the fund's level.

Not all banks on the problem list fail. And when they do, they still have assets the FDIC can sell to cover some of the insured deposits. The 45 banks that failed through June 30 this year had a total of $35.9 billion in assets but are estimated to cost the insurance fund $10.5 billion.

The agency now has $43.2 billion in assets from failed institutions that it is trying to sell.

to continue reading pg.2 click on link:
[link to www.latimes.com]
And we know that the Son of God has come and has given us an understanding, that we may know Him who is true; and we are in Him who is true, in His Son Jesus Christ. This is the true God and eternal life. 1 John 5:20
Anonymous Coward
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08/29/2009 12:48 AM
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bump
WatchmanOntheWall (OP)

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08/29/2009 03:19 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
Failed Bank List

The FDIC is often appointed as receiver for failed banks. This page contains useful information for the customers and vendors of these banks. This includes information on the acquiring bank (if applicable), how your accounts and loans are affected, and how vendors can file claims against the receivership. Failed Financial Institution Contact Search displays point of contact information related to failed banks.

This list includes banks which have failed since October 1, 2000.

Click arrows next to headers to sort in Ascending or Descending order.

Bank Name
City
State
CERT #
Closing Date
Updated Date
Mainstreet Bank Forest Lake MN 1909 August 28, 2009 August 28, 2009

Affinity Bank Ventura CA 27197 August 28, 2009 August 28, 2009

Bradford Bank Baltimore MD 28312 August 28, 2009 August 28, 2009

First Coweta Bank Newnan GA 57702 August 21, 2009 August 25, 2009
ebank Atlanta GA 34682 August 21, 2009 August 25, 2009

CapitalSouth Bank Birmingham AL 22130 August 21, 2009 August 25, 2009

Guaranty Bank Austin TX 32618 August 21, 2009 August 25, 2009

Community Bank of Arizona Phoenix AZ 57645 August 14, 2009 August 19, 2009

Union Bank, National Association Gilbert AZ 34485 August 14, 2009 August 19, 2009

Colonial Bank Montgomery AL 9609 August 14, 2009 August 19, 2009

Dwelling House Savings and Loan Association Pittsburgh PA 31559 August 14, 2009 August 19, 2009

Community Bank of Nevada Las Vegas NV 34043 August 14, 2009 August 19, 2009

Community First Bank Prineville OR 23268 August 7, 2009 August 11, 2009

Community National Bank of Sarasota County Venice FL 27183 August 7, 2009 August 11, 2009

First State Bank Sarasota FL 27364 August 7, 2009 August 11, 2009

First BankAmericano Elizabeth NJ 34270 July 31, 2009 August 10, 2009

Integrity Bank Jupiter FL 57604 July 31, 2009 August 5, 2009

First State Bank of Altus Altus OK 9873 July 31, 2009 August 10, 2009

Peoples Community Bank West Chester OH 32288 July 31, 2009 August 10, 2009

Mutual Bank Harvey IL 18659 July 31, 2009 August 10, 2009

Security Bank of Bibb County Macon GA 27367 July 24, 2009 July 30, 2009

Security Bank of North Metro Woodstock GA 57105 July 24, 2009 July 30, 2009

Security Bank of North Fulton Alpharetta GA 57430 July 24, 2009 July 30, 2009

Security Bank of Gwinnett County Suwanee GA 57346 July 24, 2009 July 30, 2009

Waterford Village Bank Williamsville NY 58065 July 24, 2009 August 11, 2009

Security Bank of Jones County Gray GA 8486 July 24, 2009 July 30, 2009

Security Bank of Houston County Perry GA 27048 July 24, 2009 July 30, 2009

Temecula Valley Bank Temecula CA 34341 July 17, 2009 August 11, 2009

Vineyard Bank Rancho Cucamonga CA 23556 July 17, 2009 August 11, 2009

BankFirst Sioux Falls SD 34103 July 17, 2009 July 23, 2009

First Piedmont Bank Winder GA 34594 July 17, 2009 August 11, 2009

Bank of Wyoming Thermopolis WY 22754 July 10, 2009 July 15, 2009

First National Bank of Danville Danville IL 3644 July 2, 2009 August 11, 2009

Rock River Bank Oregon IL 15302 July 2, 2009 August 11, 2009

John Warner Bank Clinton IL 12093 July 2, 2009 August 11, 2009

First State Bank of Winchester Winchester IL 11710 July 2, 2009 August 11, 2009

Elizabeth State Bank Elizabeth IL 9262 July 2, 2009 August 11, 2009

Millennium State Bank of Texas Dallas TX 57667 July 2, 2009 August 11, 2009

Founders Bank Worth IL 18390 July 2, 2009 August 11, 2009

Neighborhood Community Bank Newnan GA 35285 June 26, 2009 August 6, 2009

Community Bank of West Georgia Villa Rica GA 57436 June 26, 2009 August 6, 2009

Horizon Bank Pine City MN 9744 June 26, 2009 August 11, 2009

MetroPacific Bank Irvine CA 57893 June 26, 2009 August 6, 2009

Mirae Bank Los Angeles CA 57332 June 26, 2009 August 11, 2009

First National Bank of Anthony Anthony KS 4614 June 19, 2009 August 6, 2009

Cooperative Bank Wilmington NC 27837 June 19, 2009 August 6, 2009

Southern Community Bank Fayetteville GA 35251 June 19, 2009 August 6, 2009

Bank of Lincolnwood Lincolnwood IL 17309 June 5, 2009 August 6, 2009

Citizens National Bank Macomb IL 5757 May 22, 2009 August 6, 2009

Strategic Capital Bank Champaign IL 35175 May 22, 2009 August 6, 2009

BankUnited, FSB Coral Gables FL 32247 May 21, 2009 August 6, 2009

Westsound Bank Bremerton WA 34843 May 8, 2009 August 6, 2009

Silverton Bank, NA Atlanta GA 26535 May 1, 2009 August 6, 2009

America West Bank Layton UT 35461 May 1, 2009 August 6, 2009

Citizens Community Bank Ridgewood NJ 57563 May 1, 2009 August 6, 2009

American Southern Bank Kennesaw GA 57943 April 24, 2009 August 6, 2009

Michigan Heritage Bank Farmington Hills MI 34369 April 24, 2009 August 6, 2009
First Bank of Beverly Hills Calabasas CA 32069 April 24, 2009 August 6, 2009
First Bank of Idaho Ketchum ID 34396 April 24, 2009 August 6, 2009

American Sterling Bank Sugar Creek MO 8266 April 17, 2009 August 6, 2009

Great Basin Bank of Nevada Elko NV 33824 April 17, 2009 August 6, 2009

New Frontier Bank Greeley CO 34881 April 10, 2009 August 6, 2009

Cape Fear Bank Wilmington NC 34639 April 10, 2009 August 6, 2009

Omni National Bank Atlanta GA 22238 March 27, 2009 August 6, 2009

Colorado National Bank Colorado Springs CO 18896 March 20, 2009 August 6, 2009

TeamBank, NA Paola KS 4754 March 20, 2009 August 6, 2009

FirstCity Bank Stockbridge GA 18243 March 20, 2009 August 11, 2009

Freedom Bank of Georgia Commerce GA 57558 March 6, 2009 August 6, 2009

Heritage Community Bank Glenwood IL 20078 February 27, 2009 August 6, 2009

Security Savings Bank Henderson NV 34820 February 27, 2009 August 25, 2009

Silver Falls Bank Silverton OR 35399 February 20, 2009 August 6, 2009

Corn Belt Bank & Trust Co. Pittsfield IL 16500 February 13, 2009 August 18, 2009

Sherman County Bank Loup City NE 5431 February 13, 2009 August 6, 2009

Riverside Bank of the Gulf Coast Cape Coral FL 34563 February 13, 2009 August 6, 2009

Pinnacle Bank of Oregon Beaverton OR 57342 February 13, 2009 August 6, 2009

Alliance Bank Culver City CA 23124 February 6, 2009 August 6, 2009

FirstBank Financial Services McDonough GA 57017 February 6, 2009 August 6, 2009

County Bank Merced CA 22574 February 6, 2009 August 6, 2009

Suburban FSB Crofton MD 30763 January 30, 2009 August 6, 2009

Ocala National Bank Ocala FL 26538 January 30, 2009 August 6, 2009

MagnetBank Salt Lake City UT 58001 January 30, 2009 August 6, 2009

1st Centennial Bank Redlands CA 33025 January 23, 2009 August 6, 2009

Bank of Clark County Vancouver WA 34959 January 16, 2009 August 6, 2009

National Bank of Commerce Berkeley IL 19733 January 16, 2009 August 18, 2009

Haven Trust Bank Duluth GA 35379 December 12, 2008 August 6, 2009

Sanderson State Bank
En Español Sanderson TX 11568 December 12, 2008 August 6, 2009

First Georgia Community Bank Jackson GA 34301 December 5, 2008 August 6, 2009

Downey Savings & Loan Newport Beach CA 30968 November 21, 2008 August 6, 2009

Community Bank Loganville GA 16490 November 21, 2008 August 6, 2009

PFF Bank & Trust Pomona CA 28344 November 21, 2008 August 6, 2009

Franklin Bank, SSB Houston TX 26870 November 7, 2008 August 6, 2009

Security Pacific Bank Los Angeles CA 23595 November 7, 2008 August 6, 2009

Freedom Bank Bradenton FL 57930 October 31, 2008 August 11, 2009

Alpha Bank & Trust Alpharetta GA 58241 October 24, 2008 August 11, 2009

Main Street Bank Northville MI 57654 October 10, 2008 August 6, 2009

Meridian Bank Eldred IL 13789 October 10, 2008 August 6, 2009

Washington Mutual Bank FSB Park City UT 32633 September 25, 2008 August 14, 2009

Washington Mutual Bank Henderson NV 32633 September 25, 2008 April 24, 2009

Ameribank Northfork WV 6782 September 19, 2008 August 6, 2009

Silver State Bank
En Español Henderson NV 34194 September 5, 2008 August 6, 2009

Integrity Bank Alpharetta GA 35469 August 29, 2008 August 6, 2009

Columbian Bank & Trust Topeka KS 22728 August 22, 2008 August 6, 2009

First Priority Bank Bradenton FL 57523 August 1, 2008 August 6, 2009

First National Bank of Nevada Reno NV 27011 July 25, 2008 August 6, 2009

First Heritage Bank, NA Newport Beach CA 57961 July 25, 2008 August 6, 2009

IndyMac Bank Pasadena CA 29730 July 11, 2008 August 6, 2009

First Integrity Bank, NA Staples MN 12736 May 30, 2008 August 6, 2009

ANB Financial, NA Bentonville AR 33901 May 9, 2008 August 6, 2009

Hume Bank Hume MO 1971 March 7, 2008 August 6, 2009

Douglass National Bank Kansas City MO 24660 January 25, 2008 August 6, 2009

Miami Valley Bank Lakeview OH 16848 October 4, 2007 August 6, 2009

NetBank Alpharetta GA 32575 September 28, 2007 August 6, 2009

Metropolitan Savings Bank Pittsburgh PA 35353 February 2, 2007 August 6, 2009

Bank of Ephraim Ephraim UT 1249 June 25, 2004 April 9, 2008

Reliance Bank White Plains NY 26778 March 19, 2004 April 9, 2008

Guaranty National Bank
of Tallahassee Tallahassee FL 26838 March 12, 2004 August 6, 2009

Dollar Savings Bank Newark NJ 31330 February 14, 2004 April 9, 2008

Pulaski Savings Bank Philadelphia PA 27203 November 14, 2003 July 22, 2005

First National Bank of Blanchardville Blanchardville WI 11639 May 9, 2003 August 6, 2009

Southern Pacific Bank Torrance CA 27094 February 7, 2003 October 20, 2008

Farmers Bank of Cheneyville Cheneyville LA 16445 December 17, 2002 October 20, 2004

Bank of Alamo Alamo TN 9961 November 8, 2002 March 18, 2005

AmTrade International Bank
En Español Atlanta GA 33784 September 30, 2002 September 11, 2006

Universal Federal Savings Bank Chicago IL 29355 June 27, 2002 April 9, 2008

Connecticut Bank of Commerce Stamford CT 19183 June 26, 2002 August 6, 2009

New Century Bank Shelby Township MI 34979 March 28, 2002 March 18, 2005

Net 1st National Bank Boca Raton FL 26652 March 1, 2002 April 9, 2008

NextBank, NA Phoenix AZ 22314 February 7, 2002 August 6, 2009

Oakwood Deposit Bank Co. Oakwood OH 8966 February 1, 2002 August 6, 2009

Bank of Sierra Blanca Sierra Blanca TX 22002 January 18, 2002 November 6, 2003

Hamilton Bank, NA
En Español Miami FL 24382 January 11, 2002 August 6, 2009

Sinclair National Bank Gravette AR 34248 September 7, 2001 February 10, 2004

Superior Bank, FSB Hinsdale IL 32646 July 27, 2001 August 6, 2009

Malta National Bank Malta OH 6629 May 3, 2001 November 18, 2002

First Alliance Bank & Trust Co. Manchester NH 34264 February 2, 2001 February 18, 2003

National State Bank of Metropolis Metropolis IL 3815 December 14, 2000 March 17, 2005

Bank of Honolulu Honolulu HI 21029 October 13, 2000 March 17, 2005



Last Updated 08/28/2009 cservicefdicdal@fdic.gov
[link to www.fdic.gov]

Last Edited by WatchmanOntheWall on 08/29/2009 03:25 AM
And we know that the Son of God has come and has given us an understanding, that we may know Him who is true; and we are in Him who is true, in His Son Jesus Christ. This is the true God and eternal life. 1 John 5:20
TX PATRIOT
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Thailand
08/29/2009 03:40 AM
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Exactly and only the "too big to fail" will remain standing. It's their back door to a monopoly, and if you look closely, it is the same in almost every sector.

The little guys will not be allowed to compete. We will become even more entrenched in slavery for "the company" and will only be allowed to spend at "the company store" what little money is earned.

The most complicit in creating "the company": the gov.

.
WatchmanOntheWall (OP)

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08/29/2009 03:57 AM
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Re: 1,000 Banks to Fail In Next Two Years: Bank CEO
Exactly and only the "too big to fail" will remain standing. It's their back door to a monopoly, and if you look closely, it is the same in almost every sector.

The little guys will not be allowed to compete. We will become even more entrenched in slavery for "the company" and will only be allowed to spend at "the company store" what little money is earned.

The most complicit in creating "the company": the gov.

.
 Quoting: TX PATRIOT 758266


Well said, the rich get richer and the poor get poorer.

At least we are not the evil scum they are. Their proud and deceitful lies will only destroy themselves. And TPTB NWO will fail them.

Revelation 13,17,18

Last Edited by WatchmanOntheWall on 08/29/2009 05:02 AM
And we know that the Son of God has come and has given us an understanding, that we may know Him who is true; and we are in Him who is true, in His Son Jesus Christ. This is the true God and eternal life. 1 John 5:20
TX PATRIOT
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08/29/2009 10:49 AM
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Bump for Watchman

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