St Louis Mortgage Refinancing and Real Estate News –
News: Another Seven More Banks Fail
The banking crisis seems to be far from over. With only 4 months into the year, another seven more banks have gone to the way side.
Yes, the FDIC’s failed bank list jumped to 37 for the year. This updated list includes banks from five states with three in Georgia, and one each in Alabama, Minnesota, Ohio, and Utah.
The first bank is the Appalachian Community Bank in Ellijay, Georgia. They had 10 branch locations, with $1.01 billion in total assets and $917.6 million in deposits.
Coming in second is the Bank of Hiawassee, based in Hiawassee, Georgia. This bank ran five branches and had $377.8 million in assets and $339.6 million in deposits.
Number three on the list is the Century Security Bank in Duluth, Georgia which operated two branches and had $96.5 million in assets and $94 million in deposits.
The fourth bank to fall was the First Lowndes Bank in Fort Deposit, Alabama. They were a four-branch institution, with $137.2 million in assets and $131.1 million in deposits.
Coming in at number five was Minnesota’s State Bank of Aurora. They operated out of a single branch office. But they had $28.2 million in assets and $27.8 million in deposits.
The next bank to fail was the single branch of American National Bank in Parma, Ohio which had approximately $70.3 million in assets and $66.8 million in deposits.
And the final bank to fail at number seven was Bank Corp. in Draper, Utah, which had $1.6 billion in assets and $1.5 billion in total deposits.
This may be a year of fiscal infamy regarding banks nationwide. Perhaps the government watch dogs should be more concerned with their large FDIC failures instead of relentlessly going after the smaller mortgage broker.
More and more data being released suggests larger amounts of fraud being committed by the large insurance companies and federally chartered banks all originated and fueled by the Clinton and Bush administrations’ push for homes for every American whether they financially deserved it or not.
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Tags: banking crisis, banks, fraud, st louis home loan, st louis home loan experts, st louis home loans, st louis lending, st louis mortgage, st louis mortgage news, st louis refinancing
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