A Real Failure Friday: Five Banks Fail in Worst Week Since April 2011 - News and Current Events | futures io social day trading
futures io futures trading


A Real Failure Friday: Five Banks Fail in Worst Week Since April 2011
Updated: Views / Replies:252 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

A Real Failure Friday: Five Banks Fail in Worst Week Since April 2011

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

A Real Failure Friday: Five Banks Fail in Worst Week Since April 2011

The decline in financial failure has been one of the big themes of the U.S. economic recovery over the past few years. As a general rule, corporate bankruptcies, debt defaults, and bank failures have been decreasing steadily. But last Friday, the Federal Deposit Insurance Corporation's bank-closure SWAT teams partied like it was 2009, closing five banks and bringing the total number of failures to 2012. (The completed failed bank list can be seen here.)

Palm Desert National Bank, a one-branch bank with $126 million in assets based in Palm Desert, California, failed and was taken over by Pacific Premier Bank in nearby Costa Mesa.

Plantation Federal Bank, a six-branch bank with $486 million in assets based in Pawleys Island, South Carolina, failed and its deposits were taken over by First Federal Bank in Charleston, South Carolina.

InterBank, a four-branch bank with $481 million in assets based in Maple Grove, Minnesota, failed and was taken over by Great Southern Bank of Reeds Spring, Missouri.

HarVest Bank of Maryland, a four-branch bank with $164 million in assets based in Gaithersburg, Maryland, failed and was taken over by Sonabank of McLean, Virginia.

Bank of the Eastern Shore, a bank based in Cambridge, Maryland, with $166 million in assets, failed. Since no buyer could immediately be found, the FDIC created a new entity to manage accounts until depositors can move their money to other banks.

This was the worst Friday for bank closures since April 29, 2011, when five banks were closed. Together, the five banks closed last Friday had combined assets of $1.423 billion. So, through the first 17 weeks of 2012, 22 banks with a combined $6.5 billion in assets failed. That compares with 39 banks with a combined $16.96 billion in assets that failed in the first 17 weeks of 2011.


A Real Failure Friday: Five Banks Fail in Worst Week Since April 2011 | Daniel Gross - Yahoo! Finance

Reply With Quote

Reply



futures io > > > > A Real Failure Friday: Five Banks Fail in Worst Week Since April 2011

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Webinar: Divergence and Other Neat Stuff - April 5, 2011 rogerf The Elite Circle 83 November 30th, 2014 04:12 PM
UK Banks Fail? Hell Will Freeze Over First: Analysts Quick Summary News and Current Events 0 October 12th, 2011 07:40 AM
Webinar: Trading Psychology - April 12 2011 DrGary The Elite Circle 15 May 13th, 2011 11:43 PM
Friday: Countdown on Europe Banks, More Big Earnings Quick Summary News and Current Events 0 July 23rd, 2010 02:00 AM


All times are GMT -4. The time now is 11:53 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.06 seconds with 19 queries on phoenix via your IP 54.226.34.209