CRE Dominoes: FDIC Takes Over Three California Banks
October 30, 2009
The FDIC has shut down three California banks: Pacific National Bank, California National Bank, and San Diego National Bank.
The three banks all were invested heavily in commercial real estate. Pacific National, as it was mentioned in The Registry article as being a lender on Moffett Towers (phase 2), was also involved in other development deals [...]
Failed Bank Timeline
October 23, 2009
The WSJ has a breakdown of the bank failures thus far and accompanying graphic to go along with it. Unfortunately it’s not embeddable, but you can see it by going here.
Read More >>FDIC’s Sheila Bair on Commercial Real Estate
September 9, 2009
Sheila Bair on commercial real estate (about 3:00 in):
Commercial real estate is a looming problem
Commercial real estate losses will be more of a driver in credit losses and bank failures
Commercial real estate is catching up
A little bit later the discussion turns to deposits protected by FDIC:
Nobody’s ever lost a penny of insured deposit, and nobody [...]
Massive Bank Failures Projected Over Next Two Years
August 27, 2009
Regional and community banks to shutter en masse (1,000 over the next two years according to BankUnited CEO). That’s a lot of retail branches which will be eliminated through either failure or consolidation.
At around the 5:00 mark, they also touch lightly on commercial real estate exposure that regional banks have.
FDIC: Insurance Fund Could Be Insolvent This Year
March 4, 2009
The chairwomen of the FDIC, Sheila Bair, has said that the FDIC fund could be insolvent this year unless additional funds are raised. As a result, the FDIC approved emergency fees to be funded by member banks to help rebuild the fund. The fund dropped to $18.9B in the fourth quarter, a drop of $16B [...]
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