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(Some Guy)   Glasgow Savings Bank is no longer Missouri's oldest running bank   (problembanklist.com) divider line 12
    More: Fail, Missouri, insurance fund, deposits, failed banks, holding company  
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1047 clicks; posted to Business » on 15 Jul 2012 at 1:22 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



12 Comments   (+0 »)
   
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2012-07-15 12:42:49 AM  
ABERDEEN
 
2012-07-15 01:26:16 AM  
Kudos for spot-on tag usage.
 
2012-07-15 02:06:42 AM  
mypartition.com

What a load of CRAP!
 
2012-07-15 02:30:10 AM  
At March 31, 2012, Glasgow Savings Bank had total assets of $24.8 million and total deposits of $24.2 million.

So... after paying everything out they'll only have $600000 left over?
 
2012-07-15 02:48:00 AM  
Sounds like the many small town Missouri banks being folded into larger regional ones
 
2012-07-15 08:27:28 AM  

Mid_mo_mad_man: Sounds like the many small town Missouri banks being folded into larger regional ones


It's just a small-scale version of what happened in St. Louis and Kansas City years ago.

/Only 24 but still remembers Boatmans, Merchantile, and Magna Bank
 
2012-07-15 08:35:19 AM  
 
2012-07-15 10:52:45 AM  

SwiftFox: At March 31, 2012, Glasgow Savings Bank had total assets of $24.8 million and total deposits of $24.2 million.

So... after paying everything out they'll only have $600000 left over?


If I understand correctly, in these bank failure articles assets=loans outstanding, deposits=well, deposits.
So basically they were $600k underwater.
 
2012-07-15 12:26:50 PM  
 
2012-07-15 12:28:32 PM  
Hey, the Marceline bank is one I actually use, I didn't expect to see something from my home on here.
 
2012-07-15 10:01:38 PM  
And never ask to use the facilities...

3.bp.blogspot.com
 
2012-07-16 09:08:03 AM  

buzzcut73: SwiftFox: At March 31, 2012, Glasgow Savings Bank had total assets of $24.8 million and total deposits of $24.2 million.

So... after paying everything out they'll only have $600000 left over?

If I understand correctly, in these bank failure articles assets=loans outstanding, deposits=well, deposits.
So basically they were $600k underwater.


Assets are loans outstanding, but that is not a bad thing for a bank. What probably happened is that some of those loans are not performing. For a bank this size, it would not take much to wipe out the capital. Maybe $1 million in losses, which would lead to people pulling out deposits.
 
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