U.S. regulators - Back Cover 3 Bank.

WASHINGTON report - Banking Regulators 'United States' close the three troubled banks have the 81 failures recorded. Banks are closed on Friday, 4 June 2010. local time, among other 'TierOne Bank of Lincoln', 'Nebraska', and two small banks in Missisipi and Illinois.

Quoting from the 'Reuters', Saturday 5 June 2010, 'TierOne' which is the fourth largest bank in Nebraska lose USD300 million last year, due to real estate loans in Florida, Nevada, and several other U.S. states. Starting on March 31 last, 'TierOne' has assets of about $ 2, 8 billion.

'Great Western Bank of Sioux Falls', South Dakota, agreed to buy 'TierOne' with funds that had been prepared approximately USD2, 2 billion.

"There are 69 branch offices will reopen Saturday TierOne as a subsidiary or a branch of Great Western," said party of 'the Federal Deposit Insurance Corporation or FDIC. "

While two small banks in Missisipi and Illinois went bankrupt due to credit crisis. The peak number of small bank failures expected to occur in the third quarter of this year and could exceed the number of 140 banks that failed last year.

Small banks in Missisipi, namely the First National Bank of Rosedale who has property $ 60, 4 million U.S. Regulators also closed. However, will reopen early next week on Monday as the son of 'The Jefferson Bank in Fayette, Missisipi. For that, 'the Jefferson Bank' is expected to grow USD63, 5 million.

Meanwhile, for banks in Illinois, 'FDIC' has approved the payment of deposits of 'Arcola Homestead Savings Bank' in Arcola, Illinois, after the bank was not able to find another bank as penjaminnya. 'Arcola Homestead Savings Bank' has assets of USD17 million and savings amounting to $ 18, 1 million.

Although bankruptcies threaten the banking industry, but the number of failures has not reached the level of savings and loan crisis, as it has experienced in 1989 when 534 pda closed institutions.

In the current crisis, the problem of the banking industry has shifted from what had been problematic on home mortgages to commercial real estate. In particular, to community banks that tend to have greater focus in dealing with commercial real estate loans.

However, suppose that the banking industry showed signs of recovery are quite strong.

"At the quarterly meeting on May 20 last, we saw already many banks have managed to increase their capital to improve the balance sheets of financial companies or even acquiring other banks," said FDIC Chief Sheila Bair.

He also said the FDIC sees a higher bid by a number of banking companies to acquire troubled banks.

"This shows the great desire of some companies to take the assets of a number of problem banks," he said. Thank you have visited this blog (otofinanceinfo)