FDIC shuts down 6 banks today, making 15 so far this year. List here:

[dixiegrrrrl]

Bainbridge Island WA
First Regional Bank Los Angeles CA 0
Community Bank and Trust Cornelia GA
Marshall Bank, N.A. Hallock MN
Florida Community Bank Immokalee FL
First National Bank of Georgia Carrollton GA

[uppityperson]

1. What bank on Bainbridge Island? That's the community name, not a bank.

thanks.

[Bigmack]

3. American Marine....

Bainbridge and Kingston

[uppityperson]

5. Thank you.

Somewhat local to me

[Bigmack]

7. We shifted some bucks to them...

about three years ago in order to support local banks. About a year ago we rechecked their bank rating. Pulled all but $2K out. Glad we did.

I'm sure FDIC can get our bucks back, but for how much longer can they do that?

[CoffeeCat]

2. why are so many small banks failing?

Why is this happening in particular, to smaller banks?

Are there Federal fines, fees or other charges that are putting these banks out of business? Or is it
the lack of lending on the borrower side?

[dixiegrrrrl]

4. Community banks also made too many bad loans.

American Marine had a troubled asset ratio of 176.5
( National median ratio is 14.1)

First National was 204.1

By contrast, my local bank, which is rated 2 out of possible 5 stars, has a ratio of 49.1
( which is not good, but way under 100.1 plus)

this site lists bank ratings by ratio, worth a peek if you are curious about your bank:

http://banktracker.investigativereportingworkshop.org/banks/

[Celebration]

8. Thanks for that link

:hi:

[fasttense]

6. The small banks did NOT get the bailouts and .25% interest loans.

They did some of what the banksters did in the big banks. But mostly their bets were not covered by the FED and the American tax payer.