{"id":189494,"date":"2010-03-19T20:53:00","date_gmt":"2010-03-20T01:53:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/03\/19\/its-bank-failure-friday-128\/"},"modified":"2010-03-19T20:53:00","modified_gmt":"2010-03-20T01:53:00","slug":"its-bank-failure-friday-128","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/03\/19\/its-bank-failure-friday-128\/","title":{"rendered":"It&#8217;s Bank Failure Friday!!!!"},"content":{"rendered":"<p>And here they are, ordered, and numbered for the year so far<del>, and these are, of course, <span style=\"font-weight: bold;\">in addition to<\/span> the rather unusual Thursday closing yesterday<\/del>.<\/p>\n<ol>\n<li value=\"31\"> <a href=\"http:\/\/www.fdic.gov\/bank\/individual\/failed\/amer-natl-oh.html\">American  National Bank<\/a><span style=\"text-decoration: underline;\">,<\/span> Parma, Oh<\/li>\n<li> <a href=\"http:\/\/www.fdic.gov\/bank\/individual\/failed\/cent-security.html\">Century  Security Bank<\/a>, Duluth, GA<\/li>\n<li><a href=\"http:\/\/www.fdic.gov\/bank\/individual\/failed\/advanta-ut.html\">Advanta  Bank Corp.<\/a>, Draper, UT<\/li>\n<li><a href=\"http:\/\/www.fdic.gov\/bank\/individual\/failed\/appalachian.html\">Appalachian  Community Bank<\/a>, Ellijay, GA<\/li>\n<li><a href=\"http:\/\/www.fdic.gov\/bank\/individual\/failed\/bankofhiawassee.html\">Bank  of Hiawassee<\/a>, Hiawassee, GA<\/li>\n<li><a href=\"http:\/\/www.fdic.gov\/bank\/individual\/failed\/firstlowndes.html\">First  Lowndes Bank<\/a>, Fort Deposit, AL<\/li>\n<li><a href=\"http:\/\/www.fdic.gov\/bank\/individual\/failed\/state-aurora.html\">State  Bank of Aurora<\/a>, Aurora, MN<\/li>\n<\/ol>\n<p>Some notes:<\/p>\n<ul>\n<li>7 Banks?  Woah&#8230;.<\/li>\n<li>It&#8217;s been a bad week for Georgia banks (well, duh, 3 got closed).<\/li>\n<li>There is some sort of joke about the bank closing in Fort <span style=\"font-weight: bold;\">Deposit<\/span>, I&#8217;m just saying.<\/li>\n<li>Advanta is a big fish.  It was a major player in small business credit cards, and the parent company had declared bankruptcy (see <a href=\"http:\/\/40yrs.blogspot.com\/2009\/11\/economics-update-day-late.html\">here<\/a> and <a href=\"http:\/\/40yrs.blogspot.com\/2009\/05\/economics-update_12.html\">here<\/a>) after its credit card debt write-offs exceeded 20%<\/li>\n<ul>\n<li>Note also that the <a href=\"http:\/\/www.calculatedriskblog.com\/2010\/03\/bank-failures-32-33-georgia-and-utah.html\">FDIC could not find a buyer<\/a> for Advanta, so the taxpayer is on the hook for this.<\/li>\n<\/ul>\n<\/ul>\n<p>Here is the <a href=\"http:\/\/www.fdic.gov\/bank\/individual\/failed\/banklist.html\">Full FDIC list<\/a><\/p>\n<p>And we also have some credit union closings.<\/p>\n<p>My bad here, I had the wrong link bookmarked, so I missed a few after the 1<sup>st<\/sup> of the year:<\/p>\n<ol>\n<li value=\"2\"> <a href=\"http:\/\/www.ncua.gov\/news\/press_releases\/2010\/MR10-0225FCULiquidation.pdf\">Friendship  Community Federal Credit Union<\/a>, Clarksdale, MS on 2\/25\/10<\/li>\n<li><a href=\"http:\/\/www.ncua.gov\/news\/press_releases\/2010\/MR10-0226FCULiquidation.pdf\">Mutual  Diversified Employees Federal Credit Union<\/a>, Santa Ana, CA on 2\/26\/10<\/li>\n<li><a href=\"http:\/\/www.ncua.gov\/news\/press_releases\/2010\/MR10-0305Lawrence.pdf\">Lawrence  County School Employees Federal Credit Union<\/a>, New Castle, PA on 3\/5\/10<\/li>\n<\/ol>\n<p><a href=\"http:\/\/www.ncua.gov\/Resources\/ClosedCU\/2010.aspx\">Full NCUA list<\/a><\/p>\n<p>So, here is the graph pr0n:<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/img405.imageshack.us\/img405\/3646\/bankfail.png\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>And here they are, ordered, and numbered for the year so far, and these are, of course, in addition to the rather unusual Thursday closing yesterday. American National Bank, Parma, Oh Century Security Bank, Duluth, GA Advanta Bank Corp., Draper, UT Appalachian Community Bank, Ellijay, GA Bank of Hiawassee, Hiawassee, GA First Lowndes Bank, Fort &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1004,985],"tags":[],"class_list":["post-189494","post","type-post","status-publish","format-standard","hentry","category-finance","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189494"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=189494"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189494\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}