This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Regulators Shut Down Five Banks

Four of the failed institutions were included in TheStreet.com's list of 116 undercapitalized banks and thrifts, which was based on second-quarter data.

Of the 89 institutions on a previous list published by TheStreet.com in late May, 39 have failed.

All previous bank failures since the beginning of 2008 are detailed on TheStreet.com's interactive Bank Failure Map.

Georgia continues to lead all states with 23 bank or thrift failures during 2008 and 2009, followed by Illinois with 16, California with 14, Florida with eight and Nevada with five.

Large bank holding companies that have acquired failed institutions during 2008 and 2009 include J.P. Morgan Chase (JPM - Get Report), which acquired Washington Mutual, the largest-ever bank or thrift to fail in the U.S.; SunTrust Banks (STI - Get Report); Regions Financial (RF - Get Report); Fifth Third Bancorp (FITB); U.S. Bancorp (USB); Zions Bancorp (ZION); PNC Financial (PNC); and BB&T Corp (BBT).

First Bank of Kansas City

TheStreet.com Ratings had assigned First Bank of Kansas City an E-minus (Very Weak) financial strength rating back in December, which was a downgrade from an E the previous quarter.

The small commercial lender rapidly deteriorated during the first half of 2009. Nonperforming assets, including loans past due 90 days or more or in nonaccrual status, made up 17.68% of total assets as of June 30. A second-quarter loss of $1.3 million left First Bank critically undercapitalized as of June 30, with a Tier 1 leverage ratio of 1.81% and a total risk-based capital ratio of 3.73%. These ratios need to be at least 5% and 10%, respectively, for most banks and thrifts to be considered well capitalized under regulatory capital guidelines. They need to be 4% and 8%, respectively, for most institutions to be considered adequately capitalized.
2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
SWBC $38,000.00 0.00%
GSBC $39.87 0.00%
JPM $64.13 0.00%
MBFI $32.28 0.00%
RF $9.62 0.00%

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs