Community Bank of Nevada, Las Vegas, NV
Community Bank of Arizona, Phoenix, AZ
“Citing data obtained under the Freedom of Information Act requests, the paper said The Office of the Comptroller of the Currency (OCC), along with the Federal Reserve, have issued more memorandums of understanding so far this year than in all of 2008.
At the current rate of at least 285, the Fed, OCC and Federal Deposit Insurance Corp are in line to issue nearly 600 of these secret agreements this year, the paper said, compared with last year when 399 such agreements were issued.”
Six are in Georgia:
Security Bank of Jones County, Gray, GA
Security Bank of Houston County, Perry, GA
Security Bank of Bibb County, Macon, GA
Security Bank of North Metro, Woodstock, GA
Security Bank of North Fulton, Alpharetta, GA
Security Bank of Gwinnett County, Suwanee, GA
Waterford Village Bank, Williamsville, NY
Saturday I posted about New Frontier Bank in Colorado being taken over by the FDIC. The backstory on the bank is that last year they had problems with their lending practices and had regulators demanding the bank clean up its books. In December 2008, it was operating under a cease and desist order requiring New Frontier to raise capital, cut bad debt and fire its top official. Early this month, a deal with a local private investment firm fell apart and that was it for New Frontier.
Only one this week:
Is there some rule that they have to seize banks on Friday? Maybe they need the weekend to re-open.
Pinnacle Bank of Oregon, Beaverton, OR
Corn Belt Bank and Trust Company, Pittsfield, IL