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Friday, December 31, 2010

Bank Failure Friday: No FDIC Closings on New Year's Eve! (Charts) *2010 final total 157, highest since 1992*

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2010 bank failures were 157, 2009 were 140


Bank Failure Friday: No FDIC Closures on New Year's Eve!

As expected, the 2010 USA bank failures ended at 157 with no bank closures on New Year's Eve. The 157 closings in 2010 exceed the 2009 total of 140 and is the highest since 1992. Annual charts of USA bank closings and the FDIC problem bank list are below.

The FDIC bank closings for 2010, from 2 weeks ago, Friday, December 17 were:

#152 The Bank of Miami, National Association, Coral Gables, FL
1st United Bank, Boca Raton, Florida, to assume all of the deposits of The Bank of Miami, N.A.
As of September 30, 2010, The Bank of Miami, N.A. had approximately $448.2 million in total assets
1st United Bank agreed to purchase approximately $442.3 million of the failed bank's assets
The FDIC will retain the remaining assets for later disposition.

#153 Chestatee State Bank, Dawsonville, GA
Bank of the Ozarks, Little Rock, Arkansas, to assume all of the deposits of Chestatee State Bank.
As of September 30, 2010, Chestatee State Bank had approximately $244.4 million in total assets
Bank of the Ozarks agreed to purchase essentially all of the assets.

#154 Appalachian Community Bank, FSB, McCaysville, GA
Peoples Bank of East Tennessee, Madisonville, Tennessee, to assume all of the deposits of Appalachian Community Bank, F.S.B., except for brokered deposits and certain out-of-state certificates of deposit
As of September 30, 2010, Appalachian Community Bank, F.S.B. had approximately $68.2 million in total assets
Peoples Bank of East Tennessee agreed to purchase approximately $67.5 million of the failed bank's assets
The FDIC will retain the remaining assets for later disposition.

#155 United Americas Bank, N.A., Atlanta, GA
State Bank and Trust Company, Macon, Georgia, to assume all of the deposits of United Americas Bank, N.A.
As of September 30, 2010, United Americas Bank, N.A. had approximately $242.3 million in total assets
State Bank and Trust Company agreed to purchase essentially all of the assets.

#156 First Southern Bank, Batesville, AR
Southern Bank, Poplar Bluff, Missouri, to assume all of the deposits of First Southern Bank.
As of September 30, 2010, First Southern Bank had approximately $191.8 million in total assets
Southern Bank agreed to purchase approximately $152.8 million of the failed bank's assets.
The FDIC will retain the remaining assets for later disposition.

#157 Community National Bank, Lino Lakes, MN
Farmers & Merchants Savings Bank, Manchester, Iowa, to assume all of the deposits of Community National Bank.
As of September 30, 2010, Community National Bank had approximately $31.6 million in total assets
Farmers & Merchants Savings Bank agreed to purchase essentially all of the assets.

The next FDIC bank closings, if any, will most likely be announced on Friday, January 6. There will probably be several after the halt for the Christmas and New Year's holidays.


USA Failed Banks by Year

Bank failures and therefore FDIC seizure of banks, has dramatically increased in 2009 and 2010 - a 2-year total of 297 compared to 0 in both 2005 and 2006. As noted below regarding total problem banks, bank failures in 2011 should continue at a high rate. Chart data, from 2005 through 2010, is:
Year, Total Bank Failures
2005: 0
2006: 0
2007: 3
2008: 25
2009: 140
2010: 157



USA Problem Banks by Year

The FDIC problem bank list continues to rise, actually skyrocket, although the total assets of these banks has leveled off. From the year-ends 2005 through 2009, the total problem banks were 52, 50, 76, 252, and 702, respectively. Now at 9/30/2010 the total is an astronomical 860. The total assets of the problem banks from the year-ends 2005 through 2009 were $7B, $8B, $22B, $159B, and $403B, respectively. The total assets of the current (9/30/2010) 860 problem banks is $379B, indicating most of these are small to medium community banks. Chart data, from YE 2005 through the QE September 30, 2010, is:
Date, Total Problem Banks
12/31/2005: 52
12/31/2006: 50
12/31/2007: 76
12/31/2008: 252
12/31/2009: 702
9/30/2010: 860



More Charts and Analysis!


Boom Doom Economy
USA and Global economic charts
Apple (AAPL) financial performance and stock charts
Google (GOOG) financial performance and stock charts
Microsoft (MSFT) financial performance charts
Intel (INTC) financial performance charts
VMware (VMW) financial performance charts
SalesForce.com (CRM) financial performance charts
USA failed and problem banks
Federal Reserve statistical releases
JPMorgan Chase & Co. (JPM) financial performance charts
Citigroup (C) financial performance charts
Goldman Sachs (GS) financial performance charts
Wells Fargo (WFC) financial performance charts
Bank of America (BAC) financial performance charts
Morgan Stanley (MS) financial performance charts
S&P 500 (SPX) charts and review
Baidu financial performance and stock charts


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Saturday, December 25, 2010

Bank Failure Friday: No FDIC Closings on Christmas Eve! (Charts) *2010 Total 157*


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2009 Bank Failures were 140, 2010 YTD is 157


Bank Failure Friday: No FDIC Closures on Christmas Eve!

As expected, the 2010 USA bank failures continue at 157 with no bank closures on Christmas Eve. The 157 closings in 2010 exceed the 2009 total of 140. Annual charts of USA bank closings and the FDIC problem bank list are below.

The FDIC bank closings for the previous week, Friday, December 17 were:

#152 The Bank of Miami, National Association, Coral Gables, FL
1st United Bank, Boca Raton, Florida, to assume all of the deposits of The Bank of Miami, N.A.
As of September 30, 2010, The Bank of Miami, N.A. had approximately $448.2 million in total assets
1st United Bank agreed to purchase approximately $442.3 million of the failed bank's assets
The FDIC will retain the remaining assets for later disposition.

#153 Chestatee State Bank, Dawsonville, GA
Bank of the Ozarks, Little Rock, Arkansas, to assume all of the deposits of Chestatee State Bank.
As of September 30, 2010, Chestatee State Bank had approximately $244.4 million in total assets
Bank of the Ozarks agreed to purchase essentially all of the assets.

#154 Appalachian Community Bank, FSB, McCaysville, GA
Peoples Bank of East Tennessee, Madisonville, Tennessee, to assume all of the deposits of Appalachian Community Bank, F.S.B., except for brokered deposits and certain out-of-state certificates of deposit
As of September 30, 2010, Appalachian Community Bank, F.S.B. had approximately $68.2 million in total assets
Peoples Bank of East Tennessee agreed to purchase approximately $67.5 million of the failed bank's assets
The FDIC will retain the remaining assets for later disposition.

#155 United Americas Bank, N.A., Atlanta, GA
State Bank and Trust Company, Macon, Georgia, to assume all of the deposits of United Americas Bank, N.A.
As of September 30, 2010, United Americas Bank, N.A. had approximately $242.3 million in total assets
State Bank and Trust Company agreed to purchase essentially all of the assets.

#156 First Southern Bank, Batesville, AR
Southern Bank, Poplar Bluff, Missouri, to assume all of the deposits of First Southern Bank.
As of September 30, 2010, First Southern Bank had approximately $191.8 million in total assets
Southern Bank agreed to purchase approximately $152.8 million of the failed bank's assets.
The FDIC will retain the remaining assets for later disposition.

#157 Community National Bank, Lino Lakes, MN
Farmers & Merchants Savings Bank, Manchester, Iowa, to assume all of the deposits of Community National Bank.
As of September 30, 2010, Community National Bank had approximately $31.6 million in total assets
Farmers & Merchants Savings Bank agreed to purchase essentially all of the assets.

The next FDIC bank closings, if any, will most likely be announced on Friday, December 31. However, being a holiday week and New Year's Eve, bank closings will probably be deferred until 2011. If so, 2010 bank closures are completed and the final total will be 157.


USA Failed Banks by Year

Bank failures and therefore FDIC seizure of banks, has dramatically increased in 2009 and 2010 - a 2-year total of 297 compared to 0 in both 2005 and 2006. As noted below regarding total problem banks, bank failures in 2011 should continue at a high rate. Chart data, from 2005 through December 17, 2010, is:
Year, Total Bank Failures
2005: 0
2006: 0
2007: 3
2008: 25
2009: 140
12/10/10 YTD: 157




USA Problem Banks by Year

The FDIC problem bank list continues to rise, actually skyrocket, although the total assets of these banks has leveled off. From the year-ends 2005 through 2009, the total problem banks were 52, 50, 76, 252, and 702, respectively. Now at 9/30/2010 the total is an astronomical 860. The total assets of the problem banks from the year-ends 2005 through 2009 were $7B, $8B, $22B, $159B, and $403B, respectively. The total assets of the current (9/30/2010) 860 problem banks is $379B, indicating most of these are small to medium community banks. Chart data, from YE 2005 through the QE September 30, 2010, is:
Date, Total Problem Banks
12/31/2005: 52
12/31/2006: 50
12/31/2007: 76
12/31/2008: 252
12/31/2009: 702
9/30/2010: 860




More Charts and Analysis!

USA and Global economic charts
Apple (AAPL) financial performance and stock charts
Google (GOOG) financial performance and stock charts
Microsoft (MSFT) financial performance charts
Intel (INTC) financial performance charts
VMware (VMW) financial performance charts
SalesForce.com (CRM) financial performance charts
USA failed and problem banks
Federal Reserve statistical releases
JPMorgan Chase & Co. (JPM) financial performance charts
Citigroup (C) financial performance charts
Goldman Sachs (GS) financial performance charts
Wells Fargo (WFC) financial performance charts
Bank of America (BAC) financial performance charts
Morgan Stanley (MS) financial performance charts
S&P 500 (SPX) charts and review
Baidu financial performance and stock charts


Visit Osprey Port Blog Network!


Follow Financial Controls (FinConInc) on Twitter!


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Saturday, December 18, 2010

Bank Failure Friday: FDIC Closes 6 Banks! (Failed & Problem Bank Charts) *2010 Total Now 157*

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2009 Bank Failures were 140, 2010 YTD is 157


Bank Failure Friday: FDIC Closes 6 Banks!

The 2010 USA bank failures increased to 151 with the closure of the 2 banks listed below. The 151 closings in 2010 exceed the 2009 total of 140. Annual charts of USA bank closings and the FDIC problem bank list are below.

Total assets of the closed banks were $1,226,500 ($1.23 billion), based on the September 30, 2010 call reports (regulatory financial statements). All banks were merged via purchase and assumption agreements into other banks.

Overall, these were 6 small community banks that were closed by the FDIC. The Bank of Miami was the larger with $448.2 million in total assets.

#152 The Bank of Miami, National Association, Coral Gables, FL
1st United Bank, Boca Raton, Florida, to assume all of the deposits of The Bank of Miami, N.A.
As of September 30, 2010, The Bank of Miami, N.A. had approximately $448.2 million in total assets
1st United Bank agreed to purchase approximately $442.3 million of the failed bank's assets
The FDIC will retain the remaining assets for later disposition.

#153 Chestatee State Bank, Dawsonville, GA
Bank of the Ozarks, Little Rock, Arkansas, to assume all of the deposits of Chestatee State Bank.
As of September 30, 2010, Chestatee State Bank had approximately $244.4 million in total assets
Bank of the Ozarks agreed to purchase essentially all of the assets.

#154 Appalachian Community Bank, FSB, McCaysville, GA
Peoples Bank of East Tennessee, Madisonville, Tennessee, to assume all of the deposits of Appalachian Community Bank, F.S.B., except for brokered deposits and certain out-of-state certificates of deposit
As of September 30, 2010, Appalachian Community Bank, F.S.B. had approximately $68.2 million in total assets
Peoples Bank of East Tennessee agreed to purchase approximately $67.5 million of the failed bank's assets
The FDIC will retain the remaining assets for later disposition.

#155 United Americas Bank, N.A., Atlanta, GA
State Bank and Trust Company, Macon, Georgia, to assume all of the deposits of United Americas Bank, N.A.
As of September 30, 2010, United Americas Bank, N.A. had approximately $242.3 million in total assets
State Bank and Trust Company agreed to purchase essentially all of the assets.

#156 First Southern Bank, Batesville, AR
Southern Bank, Poplar Bluff, Missouri, to assume all of the deposits of First Southern Bank.
As of September 30, 2010, First Southern Bank had approximately $191.8 million in total assets
Southern Bank agreed to purchase approximately $152.8 million of the failed bank's assets.
The FDIC will retain the remaining assets for later disposition.

#157 Community National Bank, Lino Lakes, MN
Farmers & Merchants Savings Bank, Manchester, Iowa, to assume all of the deposits of Community National Bank.
As of September 30, 2010, Community National Bank had approximately $31.6 million in total assets
Farmers & Merchants Savings Bank agreed to purchase essentially all of the assets.

The next FDIC bank closings, if any, will most likely be announced on Friday, December 24. However, being a Christmas week and New Year's the next week, bank closings may be deferred until 2011. If so, this is the 2010 final bank closures and the final total will be 157.


USA Failed Banks by Year

Bank failures and therefore FDIC seizure of banks, has dramatically increased in 2009 and 2010 - a 2-year total of 297 compared to 0 in both 2005 and 2006. As noted below regarding total problem banks, bank failures in 2011 should continue at a high rate. Chart data, from 2005 through December 17, 2010, is:
Year, Total Bank Failures
2005: 0
2006: 0
2007: 3
2008: 25
2009: 140
12/10/10 YTD: 157




USA Problem Banks by Year

The FDIC problem bank list continues to rise, actually skyrocket, although the total assets of these banks has leveled off. From the year-ends 2005 through 2009, the total problem banks were 52, 50, 76, 252, and 702, respectively. Now at 9/30/2010 the total is an astronomical 860. The total assets of the problem banks from the year-ends 2005 through 2009 were $7B, $8B, $22B, $159B, and $403B, respectively. The total assets of the current (9/30/2010) 860 problem banks is $379B, indicating most of these are small to medium community banks. Chart data, from YE 2005 through the QE September 30, 2010, is:
Date, Total Problem Banks
12/31/2005: 52
12/31/2006: 50
12/31/2007: 76
12/31/2008: 252
12/31/2009: 702
9/30/2010: 860




More Charts and Analysis!

USA and Global economic charts
Apple (AAPL) financial performance and stock charts
Google (GOOG) financial performance and stock charts
Microsoft (MSFT) financial performance charts
Intel (INTC) financial performance charts
VMware (VMW) financial performance charts
SalesForce.com (CRM) financial performance charts
USA failed and problem banks
Federal Reserve statistical releases
JPMorgan Chase & Co. (JPM) financial performance charts
Citigroup (C) financial performance charts
Goldman Sachs (GS) financial performance charts
Wells Fargo (WFC) financial performance charts
Bank of America (BAC) financial performance charts
Morgan Stanley (MS) financial performance charts
S&P 500 (SPX) charts and review
Baidu Planet
Baidu financial performance and stock charts


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Follow Financial Controls (FinConInc) on Twitter!


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Wednesday, December 15, 2010

USA Industrial Production at 27-Month High! (Charts) *Capacity utilization increases*

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Federal Reserve Statistical Release: Industrial Production and Capacity Utilization


USA Industrial Production at 27-Month High!

Official Statement by the Federal Reserve Industrial production increased 0.4 percent in November after a decline of 0.2 percent in October. The rate of change for industrial production was revised down in October but up in September; the net effect of the revisions from June to October left the level of industrial production in October about the same as was previously reported. In the manufacturing sector, output advanced 0.3 percent in November with gains in both durables and nondurables. The gains among durable goods industries were particularly broad-based; only the production of motor vehicles and parts decreased substantially. Excluding motor vehicles and parts, overall factory output advanced 0.7 percent. The output of mines edged lower, but the output of utilities moved up 1.9 percent as the return of more seasonal temperatures boosted the demand for heating. At 93.9 percent of its 2007 average, total industrial production in November was 5.4 percent above its level a year earlier.

Cycle History The current Industrial Production Index (preliminary) of 93.9 is up +8.4 and +9.8% from the Great Recession cyclical bottom of 85.5 in June 2009. The Index is down -6.8 and -6.8% from the pre-Great Recession cyclical peak of 100.7 in September 2007. Therefore, the current Index is approximately mid-range, a little closer to the peak, between the cyclical peak and trough.

Trend The current Industrial Production Index (preliminary) of 93.9 is a post-Great Recession cyclical peak and 27-month high, up +.42 from October, MoM, and up a strong +5.4% from November 2009, YoY. The Index has increased 15 of the last 17 months, since the cyclical trough in June 2009. The current Index is above the 12-month moving average of 92.2 and has been for 14 consecutive months. The current Index is above the 24-month moving average of 90.0 and has been for 8 consecutive months. The current Index is above the 36-month moving average of 92.7 and has been for 5 consecutive months. The 12-month moving average is ascending sharply after a cyclical trough of 87.7 in December 2009. The 24-month moving average has leveled off and continues at a cyclical low. The 36-month moving average continues descending. (The 12-month, 24-month, and 36-month moving averages charts are not shown on this page).

Industrial Production Index (Chart) Below is a chart of the latest 39 months (3+ years) of the Industrial Production Index from the pre-Great Recession cyclical peak of 100.7 in September 2007 through the latest month reported, November 2010 of 93.9. As can be seen, the Index bottomed in July 2009 at 85.5 and has generally ascended through November 2010 to a post-Great Recession cyclical peak and 27-month high.



Commentary The Federal Reserve revised the past few months of data but the changes were immaterial and to the upside. The November Industrial Production Index of 93.9 is a strong increase, a 27-month high, and a post-Great Recession cyclical peak, which is very encouraging. The Index has remained above 93 since July 2010 and 5 consecutive months (93.4, 93.6, 93.7, 93.5, and 93.9). Previously, the Index had been below 93 for 20 consecutive months (November 2008 through June 2010).


USA Capacity Utilization Rate Increases in November

Official Statement by the Federal Reserve The capacity utilization rate for total industry rose to 75.2 percent, a rate 5.4 percentage points below its average from 1972 to 2009.

Cycle History The current Capacity Utilization Rate (preliminary) of 75.2 is up +7.0 and +10.3% from the Great Recession cyclical bottom of 68.2 in June 2009. The Index is down -6.5 and -7.9% from the pre-Great Recession cyclical peak of 81.7 in April 2007. Therefore, the current Index is approximately mid-range between cyclical peak and trough.

Trend The current Capacity Utilization Rate (preliminary) of 75.2 is a post-Great Recession cyclical peak and 25-month high, up +0.39% from October, MoM, and up a strong +5.7% from November 2009, YoY. The Rate has increased or held steady 16 of the last 17 months, since the cyclical trough in June 2009. The current Rate is above the 12-month moving average of 73.8 and has been for 14 consecutive months. The current Rate is above the 24-month moving average of 72.0 and has been for 8 consecutive months. The current Rate is above the 36-month moving average of 74.2 and has been for 4 consecutive months. The 12-month moving average is ascending sharply after a cyclical trough of 70.0 in December 2009. The 24-month moving average has leveled off and has been at a cyclical low of 71.9 and 72.0 in August, September, October, and November 2010. The 36-month moving average continues descending. (The 12-month, 24-month, and 36-month moving averages charts are not shown on this page).

Capacity Utilization Rate (Chart) Below is a chart of the latest 44 months (3+ years) of the Capacity Utilization Rate from the pre-Great Recession cyclical peak of 81.7 in April 2007 through the latest month reported, November 2010 of 75.2. As can be seen, the Rate bottomed in June 2009 at 68.2 and has generally ascended through November 2010 to a post-Great Recession peak. and 25-month high.


Commentary The commentary is basically the same as the Industrial Production Index above. The Federal Reserve revised the past few months of data but the changes were immaterial and to the upside. The November Capacity Utilization Rate of 75.2 is a good increase, a 25-month high, and a post-Great Recession cyclical peak, which is very encouraging.


More Charts and Analysis!

USA and Global economic charts and review
Apple (AAPL) financial performance and stock charts
Google (GOOG) financial performance and charts
Microsoft (MSFT) financial performance charts
Intel (INTC) financial performance charts
VMware (VMW) financial performance charts
SalesForce.com (CRM) financial performance charts
USA failed and problem banks
Federal Reserve statistical releases
JPMorgan Chase & Co. (JPM) financial performance charts
Citigroup (C) financial performance charts
Goldman Sachs (GS) financial performance charts
Wells Fargo (WFC) financial performance charts
Bank of America (BAC) financial performance charts
Morgan Stanley (MS) financial performance charts
S&P 500 (SPX) charts and review

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