Posts Tagged Great Basin Bank

Menbers of the U.S. authorities just closed 2 more banks, increasing bankrupt  in this country since early this year to 25.

Thus, banks poured into the U.S. within 3 months in half has the correct number of banks being dissolved in 2008.

Two banks were closed are American Sterling Bank is headquartered in Missouri state and Great Basin Bank is headquartered in Nevada state. Office Supervision Federal Savings U.S. (OTS) is the next American Sterling Management, the Committee on the financial state of Nevada (NFID) who control the Great Basin.

Then, the deposit insurance Federal U.S. (FDIC) is the two banks to the above process. Ceiling rate deposit insurance FDIC which are applicable is USD 250,000 per account.

With 181 million of assets and 171.9 million USD deposit customer, American Sterling has been sold to Bank Metcalf Bank is headquartered in the state Missouri. All branches of American Sterling will be open again on 18 and 20 / 4 as this is a branch of a bank acquisition.

On their part, banks have Great Basin assets 270.9 million USD and the amount sent by customers is 221.4 million USD. Bank Nevada State Bank is headquartered in the state have agreed to for the entire amount of the deposit and bought 252.3 million of assets Great Basin. Number of remaining assets are held FDIC for customers later. All branches of the Great Basin will be open again on 20 / 4 to as branches of Nevada State Bank.

According to FDIC, the two flows of the break may cause the fund deposit insurance agency’s loss of 84 million USD.

Storm financial crisis are scanned through the U.S. banking industry has made a total of 50 U.S. banks closed since 2008 to present, in which 25 banks have poured into last year. With speed increasing as the current, can assert almost certainly banks poured break in the U.S. this year will far exceed the banks “go” in 2008. In 2007, only 3 U.S. banks had been in charge of the closing.

U.S. home prices still on the squalid and unemployment increase are pushing customers numerous individuals and businesses in the U.S. fell into default.

Because banks are closing strong increase, funds deposit insurance by FDIC are top shrink rapidly, the rate of 18.9 billion USD in 12 months last year, the lowest round in nearly 1 / 4 through the centuries, so to the USD 52.4 billion at the end of 2007. FDIC estimates, during the period 2009-2013, the agency will spend 65 billion to resolve the flow-in bank.

In quarter 4 of 2008, banks and organizations are saving U.S. FDIC insured loss 32.1 billion, the loss record in 25 years, compared to the profit 575 million in quarter 4 / 2007. End year 2008, FDIC listed 252 banks in the U.S. in the list of banks can be deleted; increase of 171 compared to the bank at the end of Quarter 3 / 2008.

Last week, some U.S. banks have to that of the signal. Banks such as Citigroup, JPMorgan Chase, Goldman Sachs and Wells Fargo are reporting business results better than expected. Loss rate is only 966 million dollars in Citigroup’s quarter 1 was seen as a success of this bank. Besides, the profits of JPMorgan, Goldman and Wells are in the highest unexpected.

However, there are comments that the report results on the business are the coverlid severity of the damaging impact that the financial crisis now cause for U.S. banks .

(According to AP, Reuters)