The euro was adopted on January 1st, 1999, so the currency is about to turn 13. I’m not a conspiracy theorist, or a numerologist, or a triskaidekaphobe. But 13 might turn out to be a very unlucky number. I’ve written…
Tag: Banking
Another Georgia bank fails . . .
Normally the FDIC shuts down banks on Fridays, but tomorrow is Veterans Day. From the press release: Community Bank of Rockmart, Rockmart, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance…
Georgia banks: what went wrong?
I’ve made a lot of posts about the number of failed banks in Georgia since 2008. While we haven’t gotten anything close to a full accounting of the reasons for the crisis in Georgia, there are obvious culprits: lax regulation,…
It’s Friday: Two more Georgia banks fail
Georgia is in no danger of losing its status as home to more failed banks in the last few years than any other state. The FDIC has just announced the failure of two more banks: Community Capital Bank in Jonesboro…
Another Georgia bank bites the dust
Three banks have been shut down by federal regulators so far this afternoon: First State Bank in Cranford, NJ; Blue Ridge Savings Bank Inc. in Asheville, NC; and Piedmont Community Bank in Gray, GA. There have been 79 failed banks…
AJC: Feds file another lawsuit over a failed Georgia bank
From today’s AJC: The Federal Deposit Insurance Corp. accuses the executives and directors of of Alpha Bank & Trust of sloppy lending practices and strategy focused on “growth above all else, including safety and soundness,†according to a lawsuit filed…
A big vote of confidence in American banking system — from European banks
The Street Light has noted in recent days that European banks have been pouring money in recent months into American banks: The cash assets (i.e. bank deposits) that foreign banks are keeping in the US banking system has risen sharply…
Most recent failed Georgia banks were founded just 5 years ago
I posted already about the failed CreekSide Bank of Woodstock, Georgia, and the failed Patriot Bank of Georgia in Cumming. (Btw, I noticed that since starting this blog in January, I have now made three posts with the identical title:…
Two more Georgia banks shut down by the FDIC
I’ve been writing a lot about the banking crisis in Georgia, and I’m not going to repeat all my concerns in this post. It was predictable that the FDIC would be back in the state this weekend. Southern National Bank…
SMN on continuing struggle of Savannah’s community banks
I have written a lot about the banking crisis in Georgia. By the way, I don’t use the word “crisis” lightly. I’ve been using it for a few years to describe the real estate sector, but the recent debt debate…
AJC: Federal lawsuit filed against insiders of state’s largest failed bank
I’ve written a lot about Georgia’s banking crisis, and here’s another post on it. According to the AJC this morning: Federal bank regulators sued 17 former directors and officers of Silverton Bank on Monday, accusing the officials of gross negligence…
Statesboro bank closed by the FDIC
It’s been more than a month since a Georgia bank was closed, but that changed today with the failure of First Southern National Bank of Statesboro. From the FDIC press release: First Southern National Bank, Statesboro, Georgia, was closed today…
Update on the Georgia banking crisis
The FDIC recently released its enforcement actions against two more Georgia banks: Century Bank of Georgia in Cartersville and The Coastal Bank in Savannah. But The Coastal Bank had already gone public with that information. See this piece from the…
Georgia on the FDIC’s mind. Again. Still.
The FDIC got off to a quick start today, closing two Georgia banks well before the usual 5 p.m. witching hour: High Trust Bank, Stockbridge, Georgia, and One Georgia Bank, Atlanta, Georgia. From the FDIC’s press release: Ameris Bank, Moultrie,…