2009 Bank Failures

**James48843** · 12-16-2009, 03:42 AM

FDIC adding a lot of employees-

FDIC approves sharp increase in 2010 budget to $4B

FDIC boosts 2010 budget to $4B from $2.6B, plans to hire 1,643 workers as bank failures mount

By Marcy Gordon, AP Business Writer , On Tuesday December 15, 2009, 9:44 pm EST

WASHINGTON (AP) -- The Federal Deposit Insurance Corp. said Tuesday its 2010 budget will jump to $4 billion from $2.6 billion this year, and announced plans to hire more than 1,600 mostly temporary employees as it continues to grapple with a rising number of bank failures.

The FDIC's board voted at a public meeting to approve the 2010 budget, which includes $2.5 billion for resolving failed banks taken over by the agency. That's up from $1.3 billion in 2009. The hiring plans will bring the number of FDIC employees to 8,653.

So far this year, 133 U.S. banks have succumbed to the soured economy and a cascade of loan defaults -- the most in a year since 1992 at the height of the savings-and-loan crisis. They compare with 25 last year and three in 2007. The failures have cost the federal deposit insurance fund more than $30 billion so far this year.

FDIC Chairman Sheila Bair has said most banks continue to be profitable but others continue to be stressed, and that the number of failures could rise further next year. The agency expects the cost of bank failures to grow to about $100 billion over the next four years.

More: http://finance.yahoo.com/news/FDIC-a...&asset=&ccode=

**grandma** · 12-16-2009, 03:58 AM

Originally Posted by James48843

FDIC adding a lot of employees-

FDIC approves sharp increase in 2010 budget to $4B

FDIC boosts 2010 budget to $4B from $2.6B, plans to hire 1,643 workers as bank failures mount

...The hiring plans will bring the number of FDIC employees to 8,653.

Where do people apply for these semi-posted jobs? Are FDIC offices scattered across the country? I've got a grand-daugh that needs work -
she is just another young lady going from one place to another, some are not even taking applications.

**James48843** · 12-16-2009, 04:26 AM

Jobs at FDIC:

http://www.fdic.gov/about/jobs/offer.html

**wwwtractor** · 12-16-2009, 07:05 AM

http://jobsearch.usajobs.gov/search....ler=basic.aspx

FDIC jobs

**dannyboy** · 12-16-2009, 02:08 PM

Originally Posted by grandma

Where do people apply for these semi-posted jobs? Are FDIC offices scattered across the country? I've got a grand-daugh that needs work -
she is just another young lady going from one place to another, some are not even taking applications.

***********************************
To get a FED job, go to USAJOBS.com and cruise the site. They should have a couple links or ways of getting to your preferred; agency and/or area. Jobs are tight and now lots of folks are looking for a FED job, for they are recession proof? FDIC is a small agency so the jobs there will be hard to get into. Have your son, girl, etc. type up one of these federal applications, leaving the job title and series applied for blank, run thousands of copies and go through the USAJOBS.com site and drop a line to all vacancies that interest? I was just there and there is over 33,000 jobs listed.

**Show-me** · 12-19-2009, 12:45 AM

http://finance.yahoo.com/news/Califs...n&asset=&ccode=

Calif.'s Imperial Capital Bank, 5 others, closed

Regulators shut down California's Imperial Capital; banks in 5 other states also close

By Marcy Gordon, AP Business Writer , On Friday December 18, 2009, 8:07 pm
WASHINGTON (AP) -- Regulators have shut down Imperial Capital Bank in La Jolla, Calif., bringing to 138 the number of U.S. banks brought down this year by the weak economy and mounting loan defaults.
The Federal Deposit Insurance Corp. has been appointed receiver of Imperial Capital, which has about $4 billion in total assets and $2.8 billion in deposits.
Los Angeles-based City National Bank has agreed to acquire all of the deposits of Imperial Capital, as well as $3.3 billion of the failed bank's assets.
Earlier Friday, regulators shut down banks in Alabama, Florida, Georgia, Michigan and Illinois.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
WASHINGTON (AP) -- Regulators on Friday shut down banks in Alabama, Florida, Georgia, Illinois and Michigan, bringing to 138 the number of U.S. banks brought down this year by the weak economy and mounting loan defaults.

**James48843** · 12-19-2009, 01:53 AM

Now it's up to SEVEN today, according to the FDIC.GOV website tonight.

Some busy beavers=
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FDIC.GOV

Bank Closing Information - December 18, 2009
These links contain useful information for the customers and vendors of these closed banks.

First Federal Bank of California, Santa Monica, CA
Imperial Capital Bank, La Jolla, CA
Independent Bankers Bank, Springfield, IL
New South Federal Savings Bank, Irondale, AL
Citizens State Bank, New Baltimore, MI
Peoples First Community Bank, Panama City, FL
RockBridge Commercial Bank, Atlanta, GA

First Federal Bank of California, F.S.B., Santa Monica, CA with approximately $6.1 billion in assets and approximately $4.5 billion in deposits was closed. OneWest Bank, Pasadena, CA has agreed to assume all deposits. (PR-239-2009)

Imperial Capital Bank, La Jolla, CA with approximately $4.0 billion in assets and approximately $2.8 billion in deposits was closed. City National Bank, Los Angeles, CA has agreed to assume all deposits, excluding certain brokered deposits. (PR-238-2009)

Independent Bankers' Bank, Springfield, IL, with approximately $585.5 million in assets and $511.5 million in deposits was closed. The FDIC created a bridge bank, Independent Bankers' Bank Bridge Bank (IBB Bridge Bank, N.A.), to take over operations. (PR-237-2009)

New South Federal Savings Bank, Irondale, AL with approximately $1.5 billion in assets and approximately $1.2 billion in deposits was closed. Beal Bank, Plano, TX has agreed to assume all deposits. (PR-236-2009)

Citizens State Bank, New Baltimore, MI, with approximately $168.6 million in assets and $157.1 million in deposits was closed. Deposit Insurance National Bank of New Baltimore, New Baltimore, MI has agreed to assume insured deposits. (PR-235-2009)

Peoples First Community Bank, Panama City, FL with approximately $1.8 billion in assets and approximately $1.7 billion in deposits was closed. Hancock Bank, Gulfport, MS has agreed to assume all deposits, excluding certain brokered deposits. (PR-234-2009)

RockBridge Commercial Bank, Atlanta, GA, with approximately $294.0 million in assets and approximately $291.7 million in deposits was approved for payout by the FDIC Board of Directors. (PR-233-2009)