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Bank Failures Pass 100 For The Year

Mon, 26 Oct 2009 13:20:17 GMT

Regulators shut down 7 more banks in FL, WI, GA, MN and IL; total failed banks in '09 reach 106 Though there are some early signs of economic recovery, bank failures continue and the pace has picked up sharply this year. With the failure of 7 more banks on Friday, the tally has surpassed 100 this year. This takes the total number to 106, compared to 25 in 2008 and 3 in 2007.[More...]

94 Bank Failures So Far In `09

Tue, 22 Sep 2009 13:20:58 GMT

Regulators shut down 2 more banks in Kentucky and Indiana; tally hits 94 this year U.S. regulators on Friday shuttered two more banks in Kentucky and Indiana as the recession continues to weigh heavily on banks. Both of the failed banks were run by Columbus, Indiana-based Irwin Financial Corporation. This takes the total number of failed federally insured banks this year to 94, compared to 25 in 2008 and 3 in 2007.[More...]

5 More Banks Fail - 89 In '09 To Date

Tue, 08 Sep 2009 14:01:14 GMT

Three more banks and two thrifts in U.S. fail, tally reaches 89 this year The recession continues to weigh heavily on banks as U.S. regulators on Friday shuttered five more institutions in Missouri, Illinois, Iowa and Arizona. This takes the total number of failed federally insured banks this year to 89, compared to 25 in 2008 and 3 in 2007.[More...]

Should You Avoid Investing In Banks Now?

Thu, 03 Sep 2009 16:52:15 GMT

While the Federal Deposit Insurance Corporation is busy taking over troubled banks, prudent investors can position themselves appropriately to profit from bank stocks. Learn more on bank mutual funds, bank ETFs, and best bank stocks to buy now.[More...]

Bank Failures Continue

Mon, 31 Aug 2009 14:09:00 GMT

Three more U.S. banks failed; tally reaches 84 this year Bank failures continue unabated as U.S. regulators on Friday closed down three more banks in California, Maryland and Minnesota. This takes the total number of failed federally insured banks this year to 84, compared to 25 in 2008 and 3 in 2007. The failed banks were Ventura, California-based Affinity Bank, with about $1 billion in assets and $922 million in deposits; Baltimore-based Bradford Bank, with $452 million in assets and $383 million in deposits; and Forest Lake, Minnesota-based Mainstreet Bank, with $459 million in assets and $434 million in deposits.[More...]

Bloomberg’s Weil: Banks Accounting Is Troubling

Thu, 13 Aug 2009 22:43:50 GMT

In an commentary piece on Bloomberg.com called Next Bubble to Burst Is Banks’ Big Loan Values, Johnathan Weil exposes some distressing nuggets of information that are buried in the footnotes of banks’ quarterly reports. We encourage every investor to read the entire commentary, but a key portion is reprinted below. “It’s amazing what a little sunshine can accomplish. Check out the footnotes to Regions Financial Corp.’s latest quarterly report, and you’ll see a remarkable disclosure. There, in an easy-to-read chart, the company divulged that the loans on its books as of June 30 were worth $22.8 billion less than what its balance sheet said. The Birmingham,[More...]

Banking Turnarounds: Rebound In Regionals?

Wed, 05 Aug 2009 16:03:12 GMT

Even among the broad-based market carnage of the past year, regional banks with heavy real estate exposure have been notably poor performers," notes turnaround expert George Putnam. In The Turnaround Letter, he explains, "While investors are still wary of this group, there are cases where the market has overreacted and the stocks will eventually rebound dramatically." Here, he looks at four favorite regionals. "Many regional banking stocks are now trading at a small fraction of their[More...]

Bank Stock Outlook: Will First-Half Gains Give Way To Second-Half Pain?

Wed, 29 Jul 2009 15:19:41 GMT

(Editor's Note: After more than a year of chaos and controversy, some of the leading U.S. banks saw their stock prices soar during the second quarter. As part of its mid-year forecast series, Money... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first. [More...]

Canadian Banks: Canada's Moment to Shine

Thu, 09 Jul 2009 20:14:27 GMT

A reputable colleague of mine, when asked if he were going to buy some US bank stocks, told me the following: "The US banks I'd buy currently reflect outrageous valuations, based on earnings power and economic uncertainty." He said he wants to buy Banks of America (BAC) when it gets back to the single digits, JP Morgan Chase (JPM) when the stock trades in the low-to-mid $20s and Suntrust Banks ([More...]

Sallie Mae (NYSE: SLM) Backs Community's Proposal

Thu, 09 Jul 2009 16:27:50 GMT

On July 7, 2009, SLM Corporation (SLM), commonly known as Sallie Mae, announced its support for the Student Loan Community's proposal to reform the student loan program. The alternative proposal, put forth by a diverse group that includes non-profit, for-profit and state-based service providers and guaranty agencies seeks to enhance the Administration’s plan to better serve students, families, schools, and taxpayers. The plan also aims at retaining a significant role for private lenders in the student loan market. The Administration’s plan is framed to provide certainty that funding will be available to students and save nearly $90 billion over the next decade by ending unnecessary public subsidies paid to banks. It would use the freed up resources to partially cover the cost of a permanent increase in grants for students from[More...]

El Dorado County approves gas-to-electricity project

Thu, 05 Nov 2009 03:47:00 GMT

Nov. 4--El Dorado County plans to boost production of electricity from methane gas at its Union Mine Landfill.
The Board of Supervisors this week approved a contract with STI Engineering of Silverado to install and operate a gas-to-electricity project on the 35-acre landfill south of Placerville.
Electricity also will be sold to power companies, and the county will receive a 10 percent royalty on the sales.

: iStockAnalyst.com Symbols Feed

Bank Failures Pass 100 For The Year

94 Bank Failures So Far In `09

5 More Banks Fail - 89 In '09 To Date

Should You Avoid Investing In Banks Now?

Bank Failures Continue

Bloomberg’s Weil: Banks Accounting Is Troubling

Banking Turnarounds: Rebound In Regionals?

Bank Stock Outlook: Will First-Half Gains Give Way To Second-Half Pain?

Canadian Banks: Canada's Moment to Shine

Sallie Mae (NYSE: SLM) Backs Community's Proposal

El Dorado County approves gas-to-electricity project

Raleigh bank robbers plead guilty

Raleigh bank robbers plead guilty

Google launches 'business stimulus package' for SMEs

First Market Bank Nears Merger

SunTrust Loses $377 Million As Struggles Continue

SunTrust posts 3Q loss but sees some signs improve

SunTrust Stays Aloft: BBandT Made a Big Jump in Central Florida With Its Acquisition of Colonial Bank

BBandT Has Big Increase in Deposits: Bank's Market Share Rose With Wachovia's Collapse

SunTrust Banks Announces New Appointment

Washington Trust Announces Third Quarter 2009 Earnings

Arch Chemicals Enters into New Accounts Receivable Securitization Facility

BankUnited Names Nicholas G. Bustle SEVP of Commercial Banking

Nick Stonestreet Joins Regions Bank to Lead Private Banking Division

SunTrust Declares Quarterly Dividend

Solid Index Findings: Despite the Costs, Americans Looking to Continued Education As a Way to Achieve a Solid Future ; The Recession Has Caused Some to Reevaluate Education and Retirement Options

Solid Index Findings: Despite the Costs, Americans Looking to Continued Education as a Way to Achieve a Solid Future

SunTrust Reports Second Quarter Results ; Company Managing From Position of Enhanced Strength While Looking to Post-Cycle Growth

SunTrust Reports Second Quarter Results

Washington Trust Announces Second Quarter 2009 Earnings

Form 4 IVESTER M DOUGLAS For: Nov 03 (10K)

Form 4 SUNTRUST BANKS INC For: Oct 20 Filed by: IVESTER M DOUGLAS (10K)

Form 4 SUNTRUST BANKS INC For: Oct 13 Filed by: PRINCE LARRY L (10K)

Form 4 SUNTRUST BANKS INC For: Sep 18 Filed by: PRINCE LARRY L (10K)

Form 4 SUNTRUST BANKS INC For: Sep 16 Filed by: PRINCE LARRY L (10K)

Form 4 IVESTER M DOUGLAS For: Sep 16 (10K)

Form 4 Panther Thomas E For: Aug 11 (10K)

Form 4 SUNTRUST BANKS INC For: Aug 11 Filed by: PRINCE LARRY L (10K)

Form 4 IVESTER M DOUGLAS For: Aug 11 (10K)

Form 4 Dierker David F For: Aug 10 (10K)