Tag Archives: FDIC

In a joint release, six federal financial regulators proposed exemptions from Dodd-Frank appraisal requirements for loans of $25,000 or less, certain streamlined refinancings, and certain loans secured by manufactured housing. Those exemptions would join others already laid out earlier this year. According to the release, the proposed exemptions "are intended to save borrowers time and money and to promote the safety and soundness and creditors."

Federal regulators announced a proposal Tuesday to double the standard Basel III leverage ratio for the "largest, most systemically significant" banks. The proposal would also require covered bank holding companies to maintain a tier 1 capital leverage buffer of at least 2 percent above the minimum supplementary leverage ratio requirement of 3 percent, for a total of 5 percent, the regulators stated. Currently, the proposed rule would apply to eight banks.

When Congress enacted Dodd-Frank in retribution for perceived ills, you had to know banks would come up with new ways to replace lost revenues, but bankers were too clever by half.

FDIC's failed bank tally rose to 15 as an institution in Las Vegas shut down, the agency announced.

The Wisconsin Department of Financial Institutions closed Banks of Wisconsin (Kenosha), FDIC announced Friday. As receiver, the agency entered into a purchase and assumption agreement with North Shore Bank, FSB (Brookfield, Wisconsin) to assume all of Banks of Wisconsin's $127.6 million in deposits and $97.4 million in assets. The remaining assets (approximately $36.6 million) will be retained by FDIC for later disposition.

Overall, the commercial banks and savings institutions covered by the FDIC reported an aggregate net income yielding of $40.3 billion this quarter, an impressive $5.5 billion (or 15.8 percent) rise from last year's $34.8 billion. This statistic marks the 15th consecutive quarter that has reported an overall earnings increase. The average return on assets (ROA) also increased to a positive 1.12 percent, up from last year's 1.00 percent and likewise represents the highest quarterly ROA since 2007.

FDIC announced Tuesday the closure of Central Arizona Bank (Scottsdale) by the Arizona Department of Financial Institutions. To protect depositors of the failed bank, FDIC entered into a purchase and assumption agreement with Western State Bank (Devils Lake, North Dakota).

Pisgah Community Bank (Asheville, North Carolina) and Sunrise Bank (Valdosta, Georgia) became the 11th and 12th federally insured banks to fail in the nation this year, FDIC announced.

This year's bank failure tally rose to double digits over the weekend with the collapse of two more federally insured institutions. FDIC announced the closing of Parkway Bank in Lenoir, North Carolina, and Douglas County Bank in Douglasville, Georgia, bringing the total number of bank closings this year to 10. While this year has been slower in terms of bank failures, April has seen the pace pick up, with more than half of the year's closings occurring this month alone.

The 2013 national bank failure tally ran up to eight this weekend as three more institutions fell by the wayside. FDIC announced the collapses of Chipola Community Bank in Marianna, Florida; Heritage Bank of North Florida in Orange Park; and First Federal Bank in Lexington, Kentucky.