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5012 clicks; posted to Business » on 14 Sep 2013 at 8:49 PM (31 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



19 Comments   (+0 »)
   
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2013-09-14 09:08:31 PM
What's average?
 
2013-09-14 09:22:03 PM
So the family banks are going the way of the family farm?
 
2013-09-14 09:36:53 PM
Even though that seems like a lot, it's encouraging because it's better.

In 2012, there were 51 bank failures,
In 2011, there were 92 bank failures,
In 2010, there were 157 bank failures,
In 2009 there were 140 bank failures,
In 2008 there were 25 bank failures,
In 2007 (start of the financial crisis), there were just three bank failures, and
In 2006 and 2005 there weren't any bank failures at all.

Source: http://www.forbes.com/sites/moneybuild er/2013/03/25/looking-back-at-ba nk-failure-rates/
 
2013-09-14 09:38:07 PM

picturescrazy: What's average?


Funny you should ask... I was just checking that.  Here are the stats from the FDIC for the last 12 years.

2001    5
2002    12
2003    3
2004    4
2005    0
2006    0
2007    3
2008    30
2009    140
2010    161
2011    92
2012    51
2013    24
 
2013-09-14 09:41:34 PM
And yeah, it does seem that market watch is off, or is doing something odd in their counting.  The FDIC lists 24 banks failed in 2013.  Specifically, from most recent to earliest in the year:

First National Bank also operating as The National Bank of El Paso 
En Espanol
The Community's Bank
Sunrise Bank of Arizona
Community South Bank
Bank of Wausau
First Community Bank of Southwest Florida (also operating as Community Bank of Cape Coral)
Mountain National Bank
1st Commerce Bank
Banks of Wisconsin d/b/a Bank of Kenosha
Central Arizona Bank
Sunrise Bank
Pisgah Community Bank
Douglas County Bank
Parkway Bank
Chipola Community Bank
Heritage Bank of North Florida
First Federal Bank
Gold Canyon Bank
Frontier Bank
Covenant Bank
1st Regents Bank
Westside Community Bank
Community Bank of the Ozarks

Data is here
 
2013-09-14 09:53:31 PM
Problem?
 
2013-09-14 09:58:28 PM
How many new banks?
 
2013-09-14 10:23:15 PM

picturescrazy: What's average?


Funny you should ask.  Here are the numbers from when Saint Ronald was president:
1988 -  470
1987 -  262
1986 -  204
1985 -  180
1984 -  106
1983 -  99
1982 -  119
1981 -  40
 
2013-09-14 11:38:04 PM

lilbjorn: picturescrazy: What's average?

Funny you should ask.  Here are the numbers from when Saint Ronald was president:
1988 -  470
1987 -  262
1986 -  204
1985 -  180
1984 -  106
1983 -  99
1982 -  119
1981 -  40


That would be a great statistic, if there hadn't been a lot of consolidation, and if the amount of banks that existed in the 1980's was the same as now.

research.stlouisfed.org
http://research.stlouisfed.org/fred2/series/USNUM
 
2013-09-14 11:56:12 PM
For comparison's sake, Canada has had zero bank failures in its entire history.
 
2013-09-15 12:35:49 AM
Thanks guys. So not a great number but at least part of a positive tend.
 
2013-09-15 03:38:07 AM

Ishkur: For comparison's sake, Canada has had zero bank failures in its entire history.


Don't worry, the Conservatives are working on that one.
 
2013-09-15 09:25:14 AM
do the right thing and put your money into a Credit Union.  no stockholders to feed and better interest rates.  your money is insured by the Government just like in a bank.
 
2013-09-15 10:49:34 AM

Linux_Yes: do the right thing and put your money into a Credit Union.  no stockholders to feed and better interest rates.  your money is insured by the Government just like in a bank.


Already have.  I actually think I'm qualified for two credit unions now due to where I live.  However, I would like to point out that banks are insured by the FDIC while credit unions are (likely) insured by the NCUA.

/ Odd Firefox recognized FDIC but not NCUA by default.
 
2013-09-15 10:50:12 AM

47 is the new 42: Linux_Yes: do the right thing and put your money into a Credit Union.  no stockholders to feed and better interest rates.  your money is insured by the Government just like in a bank.

Already have.  I actually think I'm qualified for two credit unions now due to where I live.  However, I would like to point out that banks are insured by the FDIC while credit unions are (likely) insured by the NCUA.

/ Odd Firefox recognized FDIC but not NCUA by default.


Should point out it is still up to the same amount and the federal government.
 
2013-09-15 12:53:59 PM
So we're still doing the post-just-the-number-as-the-headline thing?
 
2013-09-15 01:09:09 PM

Ishkur: For comparison's sake, Canada has had zero bank failures in its entire history.


And is that because they're well run, or because the government steps in and bails them out before they can go under?
 
2013-09-15 05:09:09 PM

Ishkur: For comparison's sake, Canada has had zero bank failures in its entire history.


Not to be too pendantic... But they had 2 in 1980 and those were the last ones.
 
2013-09-16 02:54:28 AM

jjorsett: And is that because they're well run, or because the government steps in and bails them out before they can go under?


this article explains it.
 
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