Saturday, January 30, 2010

Friday, January 29, 2010

#15


Press Releases


Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of American Marine Bank, Bainbridge Island, Washington

FOR IMMEDIATE RELEASE
January 29, 2010
Media Contact:
David Barr
Office Phone: (202) 898-6992
Cell Phone: (703) 622-4790
Email: dbarr@fdic.gov

American Marine Bank, Bainbridge Island, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Columbia State Bank, Tacoma, Washington, to assume all of the deposits of American Marine Bank.

The 11 branches of American Marine Bank will reopen on Saturday as branches of Columbia State Bank. Depositors of American Marine Bank will automatically become depositors of Columbia State Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from Columbia State Bank that it has completed systems changes to allow other Columbia State Bank branches to process their accounts as well.

This evening and over the weekend, depositors of American Marine Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2009, American Marine Bank had approximately $373.2 million in total assets and $308.5 million in total deposits. Columbia State Bank will pay the FDIC a premium of 1.0 percent to assume all of the deposits of American Marine Bank. In addition to assuming all of the deposits of the failed bank, Columbia State Bank agreed to purchase essentially all of the assets.

The FDIC and Columbia State Bank entered into a loss-share transaction on $255.1 million of American Marine Bank's assets. Columbia State Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-517-8236. The phone number will be operational this evening until 9:00 p.m., Pacific Standard Time (PST); on Saturday from 9:00 a.m. to 6:00 p.m., PST; on Sunday from noon to 6:00 p.m., PST; and thereafter from 8:00 a.m. to 8:00 p.m., PST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/americanmarine.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $58.9 million. Columbia State Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. American Marine Bank is the 15th FDIC-insured institution to fail in the nation this year, and the third in Washington. The last FDIC-insured institution closed in the state was Evergreen Bank, Seattle, on January 22, 2010.

# # #

Another five failed (so far)

We were out all day, shopping, eating, etc.

Just came home to see another five banks have failed, so far, today.

That's 14 for the year -- and we're not out of January yet.

Not looking good for the year .

#14


Press Releases


First-Citizens Bank & Trust Company, Raleigh, North Carolina, Assumes All of the Deposits of First Regional Bank, Los Angeles, California

FOR IMMEDIATE RELEASE
January 29, 2010
Media Contact:
Phone: (202) 898-6992
Cell: (703) 622-4790
David Barr
Email: dbarr@fdic.gov

First Regional Bank, Los Angeles, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First-Citizens Bank & Trust Company, Raleigh, North Carolina, to assume all of the deposits of First Regional Bank.

The eight branches of First Regional Bank will reopen on Monday as branches of First-Citizens Bank & Trust Company. Depositors of First Regional Bank will automatically become depositors of First-Citizens Bank & Trust Company. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use the former First Regional Bank branch until they receive notice from First-Citizens Bank & Trust Company that it has completed systems changes to allow other First-Citizens Bank & Trust Company branches to process their accounts as well.

This evening and over the weekend, depositors of First Regional Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2009, First Regional Bank had approximately $2.18 billion in total assets and $1.87 billion in total deposits. First-Citizens Bank & Trust Company did not pay the FDIC a premium to assume all of the deposits of First Regional Bank. In addition to assuming all of the deposits, First-Citizens Bank & Trust Company agreed to purchase approximately $2.17 billion of the First Regional Bank's assets. The FDIC retained the remaining assets for later disposition.

The FDIC and First-Citizens Bank & Trust Company entered into a loss-share transaction on $2 billion of First Regional Bank's assets. First-Citizens Bank & Trust Company will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-591-2817. The phone number will be operational this evening until 9:00 p.m., Pacific Standard Time (PST); on Saturday from 9:00 a.m. to 6:00 p.m., PST; on Sunday from noon to 6:00 p.m., PST; and thereafter from 8:00 a.m. to 8:00 p.m., PST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/firstregional.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $825.5 million. First-Citizens Bank & Trust Company's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. First Regional Bank is the 14th FDIC-insured institution to fail in the nation this year, and the first in California. The last FDIC-insured institution closed in the state was Imperial Capital Bank, La Jolla, on December 18, 2009.

#13


Press Releases


SCBT, N.A., Orangeburg, South Carolina, Assumes All of the Deposits of Community Bank and Trust, Cornelia, Georgia

FOR IMMEDIATE RELEASE
January 29, 2010
Media Contact:
David Barr
Phone: (202) 898-6992
Cell: (703) 622-4790
Email: dbarr@fdic.gov

En Español

Community Bank and Trust, Cornelia, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with SCBT, N.A., Orangeburg, South Carolina, to assume all of the deposits of Community Bank and Trust.

The 36 branches of Community Bank and Trust will reopen during normal business hours as branches of SCBT, N.A., but will continue to conduct business under the name Community Bank and Trust. Depositors of Community Bank and Trust will automatically become depositors of SCBT, N.A. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use the former Community Bank and Trust branch until they receive notice from SCBT, N.A. that it has completed systems changes to allow other SCBT, N.A. branches to process their accounts as well.

This evening and over the weekend, depositors of Community Bank and Trust can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2009, Community Bank and Trust had approximately $1.21 billion in total assets and $1.11 billion in total deposits. SCBT, N.A. did not pay the FDIC a premium to assume all of the deposits of Community Bank and Trust. In addition to assuming all of the deposits, SCBT, N.A. agreed to purchase essentially all of the failed bank's assets.

The FDIC and SCBT, N.A. entered into a loss-share transaction on $827.7 million of Community Bank and Trust's assets. SCBT, N.A. will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-430-7974. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/cbt-cornelia.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $354.5 million. SCBT, N.A's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Community Bank and Trust is the 13th FDIC-insured institution to fail in the nation this year, and the second in Georgia. The last FDIC-insured institution closed in the state was First National Bank of Georgia, Carrollton, earlier today.

# # #

#12



Press Releases


United Valley Bank, Cavalier, North Dakota, Assumes All of the Deposits of Marshall Bank, National Association, Hallock, Minnesota

FOR IMMEDIATE RELEASE
January 29, 2010
Media Contact:
David Barr
Phone: (202) 898-6992
Cell: (703) 622-4790
Email: dbarr@fdic.gov

Marshall Bank, National Association, Hallock, Minnesota, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with United Valley Bank, Cavalier, North Dakota, to assume all of the deposits of Marshall Bank, N.A.

The three branches of Marshall Bank, N.A. will reopen on Monday as branches of United Valley Bank. Depositors of Marshall Bank, N.A. will automatically become depositors of United Valley Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use the former Marshall Bank, N.A. branch until they receive notice from United Valley Bank that it has completed systems changes to allow other United Valley Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Marshall Bank, N.A. can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2009, Marshall Bank, N.A. had approximately $59.9 million in total assets and $54.7 million in total deposits. United Valley Bank will pay the FDIC a premium of 7.35 percent to assume all of the deposits of Marshall Bank, N.A. In addition to assuming all of the deposits, United Valley Bank agreed to purchase essentially all of the failed bank's assets.

The FDIC and United Valley Bank entered into a loss-share transaction on $23.9 million of Marshall Bank, N.A.'s assets. United Valley Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-405-7869. The phone number will be operational this evening until 9:00 p.m., Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST; and thereafter from 8:00 a.m. to 8:00 p.m., CST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/marshall-mn.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $4.1 million. United Valley Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Marshall Bank, National Association is the 12th FDIC-insured institution to fail in the nation this year, and the second in Minnesota. The last FDIC-insured institution closed in the state was St. Stephen State Bank, St. Stephen, on January 15, 2010.

# # #

#11


Press Releases


Premier American Bank, National Association, Miami Florida, Assumes All of the Deposits of Florida Community Bank, Immokalee, Florida

FOR IMMEDIATE RELEASE
January 29, 2010
Media Contact:
David Barr
Office Phone: (202) 898-6992
Cell Phone: (703) 622-4790
Email: dbarr@fdic.gov

Florida Community Bank, Immokalee, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, Miami, Florida, to assume all of the deposits of Florida Community Bank.

The 11 branches of Florida Community Bank will reopen during normal business hours as branches of Premier American Bank, N.A., but will continue to conduct business under the name Florida Community Bank. Depositors of Florida Community Bank will automatically become depositors of Premier American Bank, N.A. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from Premier American Bank, N.A. that it has completed systems changes to allow other Premier American Bank, N.A. branches to process their accounts as well.

This evening and over the weekend, depositors of Florida Community Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2009, Florida Community Bank had approximately $875.5 million in total assets and $795.5 million in total deposits. Premier American Bank, N.A. will pay the FDIC a premium of 0.4 percent to assume all of the deposits of Florida Community Bank. In addition to assuming all of the deposits of the failed bank, Premier American Bank, N.A. agreed to purchase approximately $499.1 million of the failed bank’s assets. The FDIC will retain the remaining assets for later disposition.

The FDIC and Premier American Bank, N.A. entered into a loss-share transaction on $305.4 million of Florida Community Bank's assets. Premier American Bank, N.A. will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-523-8275. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/floridacommunity.html.

As part of this transaction, the FDIC will acquire an equity appreciation instrument. This instrument serves as additional consideration for the transaction.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $352.6 million. Premier American Bank, N.A.'s acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Florida Community Bank is the 11th FDIC-insured institution to fail in the nation this year, and the second in Florida. The last FDIC-insured institution closed in the state was Premier American Bank, Miami, on January 22, 2010.

# # #

#10


Press Releases


Community & Southern Bank, Carrollton, Georgia, Assumes All of the Deposits of First National Bank of Georgia, Carrollton, Georgia

FOR IMMEDIATE RELEASE
January 29, 2010
Media Contact:
David Barr
Office Phone: (202) 898-6992
Cell Phone: (703) 622-4790
Email: dbarr@fdic.gov

First National Bank of Georgia, Carrollton, Georgia, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Community & Southern Bank, Carrollton, Georgia, a newly chartered institution, to assume all of the deposits of First National Bank of Georgia.

The 11 branches of First National Bank of Georgia will reopen on Saturday as branches of Community & Southern Bank. Depositors of First National Bank of Georgia will automatically become depositors of Community & Southern Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage.

This evening and over the weekend, depositors of First National Bank of Georgia can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2009, First National Bank of Georgia had approximately $832.6 million in total assets and $757.9 million in total deposits. Community & Southern Bank will pay the FDIC a premium of 1.25 percent to assume all of the deposits of First National Bank of Georgia. In addition to assuming all of the deposits of the failed bank, Community & Southern Bank agreed to purchase essentially all of the assets.

The FDIC and Community & Southern Bank entered into a loss-share transaction on $607.4 million of First National Bank of Georgia's assets. Community & Southern Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-886-2504. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/firstnational-carrollton.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $260.4 million. Community & Southern Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. First National Bank of Georgia is the tenth FDIC-insured institution to fail in the nation this year, and the first in Georgia. The last FDIC-insured institution closed in the state was Rockbridge Commercial Bank, Atlanta, on December 18, 2009.

# # #

Wednesday, January 27, 2010

State of The Union

President Obama gave his annual State of The Union address tonight.

I have no comments.

Why?

'Cause I did not watch it. I did not listen to any of the "Pundits" or esteemed "Reporters" give their "analysis" of said speech.

I will watch to see what he (Obama) DOES. I will judge him on both attempts and results -- not on words.

He's good with words. That man gives a mighty fine speech. He uses words well.

He's a little short on results. He's a bit too "cool". There is no passion, no desire. That wouldn't matter if times were good. They are not. People are suffering -- we NEED some passion, some emotion. Just the idea there is someone who actually gives a damn would go a long way.

It's almost as if the current administration is lazy.

What a damn shame -- a huge mandate -- squandered, wasted, frittered away, without even a fight.

Shame.

Monday, January 25, 2010

our "lefties"

I'm an old woman who has moved left as I've aged. I look at how we've abandoned entire generations. I look at how mean-spirited we have become, how we have lost the generosity that America was once noted for.

Anyway, a few years ago we were at a big Media Conference. All sorts of left of center groups were there. We saw, and spoke to Amy Goodman, Phil Donahue, David Brock, Bernie Sanders, etc.

At one point, a young woman was handing out leaflets supporting the RCP (Revolutionary Communist Party) -- we told her to get an AK47 for self protection. Her response was SHOCKED silence. Then she asked if that was a gun -- we said, yes it's a fine self defense weapon.

She was SHOCKED, SHOCKED I tell you! Just the idea was totally out of the question.

We let it go -- but I wanted to ask her, "what part of 'Revolutionary' don't you understand?". That's one of the problems with lefties here in the USA, many do not understand the concept of self defense.

How can you even think about changing the status quo if you are not willing to defend yourself?

This is a sign of where we are. People who call themselves "Revolutionary Communists" seem to expect the civil authorities to protect them. People who claim to want real change expect to be protected by the very people who support the status quo. Isn't there something wrong with this picture?

Anyway, that seems to be where we are today. People who want "change" want it to be "nice", when it's never nice.

Look at the fights for Union rights, for Civil rights -- advances are made by fighting for them. People die. They are called names in the press. They are only celebrated by those who benefit from their sacrifice -- and that only for a while.

My country is gone. The tough old folks I looked up to as a young person are only a memory.

Spending freeze

Obama is announcing a three year spending freeze -- this at a time when unemployment is still 10% (officially), and any recovery seems to be stalling.

As of now -- I'm just plain done with him. He's NOT a Democrat. He seems to have no interest in even the upper middle class -- never mind the middle class.

Total lack of fire, lack of guts, lack of fighting spirit. He also seems totally owned by the financial interests.

God how I wish Hillary had been elected. Oh well, at least he can give a speech -- doesn't know how to fight, doesn't know what is happening out here in the real world -- or, if he does, he doesn't give a damn.

"Change we cam believe in" my ass! In fact, I can believe in my wrinkled old ass more than I can Obama.

The Republicans are WORSE.

I cry for the USA. My country is gone. Its real promise gone.

We need a new political party. We need some new voices. Unfortunately, all the young folks today really know nothing about the USA of the 60's and 70's. They actually think Ronnie Raygun was a decent President. Some actually think we are "a Christian Nation" ---- in other words, we are LOST.

Saturday, January 23, 2010

all over for this week - I hope

This week the FDIC pulled the plug on five more banks. That's nine so far this year.

Along with the lousy unemployment figures, the ongoing anger against the banks, and the creeping realization that the Wall Street recovery has not yet hit Main Street, our peerless leader, has decided to join in the massive populist anger.

Real or not, it's still better late than never.

In addition, the move to regulate banks might just sit well with at least some of the "Tea Party" crowd.

What will the Republicans do? Will they prove that THEY, and not those upstart Democrats are REALLY the party of MONEY, and oppose ALL regulation?

In other words ----- how insane has our "governing process" become? Does anyone give a shit about the CITIZENS of this Republic? Or is absolutely everything going to the already rich and wealthy?

Friday, January 22, 2010

#9


Press Releases


Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of Columbia River Bank, The Dalles, Oregon

FOR IMMEDIATE RELEASE
January 22, 2010
Media Contact:
Greg Hernandez (202) 898-6984
Cell: (202) 340-4922
Email: ghernandez@fdic.gov

Columbia River Bank, The Dalles, Oregon, was closed today by the Oregon Division of Finance and Corporate Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Columbia State Bank, Tacoma, Washington, to assume all of the deposits of Columbia River Bank.

The 21 branches of Columbia River Bank will reopen during their normal business hours beginning Saturday as branches of Columbia State Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from Columbia State Bank that it has completed systems changes to allow other Columbia State Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Columbia River Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2009, Columbia River Bank had approximately $1.1 billion in total assets and $1.0 billion in total deposits. Columbia State Bank will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Columbia River Bank. In addition to assuming all of the deposits of the failed bank, Columbia State Bank agreed to purchase essentially all of the assets.

The FDIC and Columbia State Bank entered into a loss-share transaction on $697.4 million of Columbia River Bank's assets. Columbia State Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-523-0640. The phone number will be operational this evening until 9:00 p.m., Pacific Standard Time (PST); on Saturday from 9:00 a.m. to 6:00 p.m., PST; on Sunday from noon to 6:00 p.m., PST; and thereafter from 8:00 a.m. to 8:00 p.m., PST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/columbiariver.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $172.5 million. Columbia State Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Columbia River Bank is the ninth FDIC-insured institution to fail in the nation this year, and the first in Oregon. The last FDIC-insured institution closed in the state was Community First Bank, Prineville, on August 7, 2009.

# # #

#8


Press Releases


Umpqua Bank, Roseburg, Oregon, Assumes All of the Deposits of Evergreen Bank, Seattle, Washington

FOR IMMEDIATE RELEASE
January 22, 2010
Media Contact:
Greg Hernandez (202) 898-6984
Cell: (202) 340-4922
Email: ghernandez@fdic.gov

Evergreen Bank, Seattle, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Umpqua Bank, Roseburg, Oregon, to assume all of the deposits of Evergreen Bank.

The seven branches of Evergreen Bank will reopen on Monday as branches of Umpqua Bank. Depositors of Evergreen Bank will automatically become depositors of Umpqua Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from Umpqua Bank that it has completed systems changes to allow other Umpqua Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Evergreen Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2009, Evergreen Bank had approximately $488.5 million in total assets and $439.4 million in total deposits. Umpqua Bank will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Evergreen Bank. In addition to assuming all of the deposits of the failed bank, Umpqua Bank agreed to purchase essentially all of the assets.

The FDIC and Umpqua Bank entered into a loss-share transaction on $379.5 million of Evergreen Bank's assets. Umpqua Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-528-6215. The phone number will be operational this evening until 9:00 p.m., Pacific Standard Time (PST); on Saturday from 9:00 a.m. to 6:00 p.m., PST; on Sunday from noon to 6:00 p.m., PST; and thereafter from 8:00 a.m. to 8:00 p.m., PST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/evergreen-wa.html.

As part of this transaction, the FDIC will acquire a cash participant instrument. This instrument serves as additional consideration for the transaction.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $64.2 million. Umpqua Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Evergreen Bank is the eighth FDIC-insured institution to fail in the nation this year, and the second in Washington. The last FDIC-insured institution closed in the state was Horizon Bank, Bellingham, on January 8, 2010.

# # #

#7


Press Releases


Charter Bank, Albuquerque, New Mexico, Assumes All of the Deposits of Charter Bank, Santa Fe, New Mexico

FOR IMMEDIATE RELEASE
January 22, 2010
Media Contact:
Greg Hernandez (202) 898-6984
Cell: (202) 340-4922
Email: ghernandez@fdic.gov

En Español

Charter Bank, Santa Fe, New Mexico, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Charter Bank, Albuquerque, New Mexico, a newly-chartered federal savings bank and a subsidiary of Beal Financial Corporation, Plano, Texas, to assume all of the deposits of Charter Bank.

The eight branches of Charter Bank will reopen on Monday as branches of Charter Bank. Depositors of Charter Bank will automatically become depositors of Charter Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage.

This evening and over the weekend, depositors of Charter Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2009, Charter Bank had approximately $1.2 billion in total assets and $851.5 million in total deposits. Charter Bank did not pay the FDIC a premium for the deposits of Charter Bank. In addition to assuming all of the deposits of the failed bank, Charter Bank agreed to purchase essentially all of the assets.

The FDIC and Charter Bank entered into a loss-share transaction on $805.5 million of Charter Bank's assets. Charter Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-323-6111. The phone number will be operational this evening until 9:00 p.m., Mountain Standard Time (MST); on Saturday from 9:00 a.m. to 6:00 p.m., MST; on Sunday from noon to 6:00 p.m., MST; and thereafter from 8:00 a.m. to 8:00 p.m., MST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/charter-nm.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $201.9 million. Charter Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Charter Bank is the seventh FDIC-insured institution to fail in the nation this year, and the first in New Mexico. The last FDIC-insured institution closed in the state was Zia New Mexico Bank, Tucumcari, on April 23, 1999.

# # #

#6


Press Releases


Sunflower Bank, National Association, Salina, Kansas, Assumes All of the Deposits of Bank of Leeton, Leeton, Missouri

FOR IMMEDIATE RELEASE
January 22, 2010
Media Contact:
Greg Hernandez (202) 898-6984
Cell: (202) 340-4922
Email: ghernandez@fdic.gov

Bank of Leeton, Leeton, Missouri, was closed today by the Missouri Division of Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Sunflower Bank, National Association, Salina, Kansas, to assume all of the deposits of Bank of Leeton.

The sole branch of Bank of Leeton will reopen on Saturday as a branch of Sunflower Bank, N.A. Depositors of Bank of Leeton will automatically become depositors of Sunflower Bank, N.A. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from Sunflower Bank, N.A. that it has completed systems changes to allow other Sunflower Bank, N.A. branches to process their accounts as well.

This evening and over the weekend, depositors of Bank of Leeton can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of December 31, 2009, Bank of Leeton had approximately $20.1 million in total assets and $20.4 million in total deposits. Sunflower Bank, N.A. will pay the FDIC a premium of 0.59 percent to assume all of the deposits of Bank of Leeton. The FDIC as receiver will retain most of the assets from Bank of Leeton for later disposition.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-523-8209. The phone number will be operational this evening until 9:00 p.m., Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST; and thereafter from 8:00 a.m. to 8:00 p.m., CST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/leeton.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $8.1 million. Sunflower Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Bank of Leeton is the sixth FDIC-insured institution to fail in the nation this year, and the first in Missouri. The last FDIC-insured institution closed in the state was Gateway Bank of St. Louis, on November 6, 2009.

# # #

#5



Press Releases


Premier American Bank, Miami, Florida, National Association, Assumes All of the Deposits of Premier American Bank, Miami, Florida

FOR IMMEDIATE RELEASE
January 22, 2010
Media Contact:
Greg Hernandez (202) 898-6984
Cell: (202) 340-4922
Email: ghernandez@fdic.gov

En Español

Premier American Bank, Miami Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, Miami, Florida, a newly-chartered national institution, to assume all of the deposits of Premier American Bank. Premier American Bank, N.A. is a subsidiary of Bond Street Holdings, LLC, Naples, Florida.

The four branches of Premier American Bank will reopen on Monday as branches of Premier American Bank, N.A. Depositors of Premier American Bank will automatically become depositors of Premier American Bank, N.A. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage.

This evening and over the weekend, depositors of Premier American Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2009, Premier American Bank had approximately $350.9 million in total assets and $326.3 million in total deposits. Premier American Bank, N.A. did not pay the FDIC a premium for the deposits of Premier American Bank. In addition to assuming all of the deposits of the failed bank, Premier American Bank, N.A. agreed to purchase essentially all of the assets.

The FDIC and Premier American Bank, N.A. entered into a loss-share transaction on $300 million of Premier American Bank's assets. Premier American Bank, N.A. will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-591-2916. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/premieramerican.html.

As part of this transaction, the FDIC will acquire a cash participant instrument. This instrument serves as additional consideration for the transaction.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $85 million. Premier American Bank, N.A.'s acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Premier American Bank is the fifth FDIC-insured institution to fail in the nation this year, and the first in Florida. The last FDIC-insured institution closed in the state was Peoples First Community Bank, Panama City, on December 18, 2009.

Whites Only??

I read about this a couple of days ago but could not find the original article.

This is really insane. Black ballplayers became more prevalent because they were better. Now, they appear to be more the norm. Meanwhile, white dudes who are good, still play and star in the NBA.

If folks don't like the product -- vote with your $$$$$$.

There is no way an inferior product will get folks to part with hard earned dollars.

I suspect all sports will decline in popularity if the current economic mess continues. Baseball just might be the exception. History, a more leisurely pace, strong identification with "hometown heroes", and a sport that does not use up its players at the rate football (American) does.

Few folks can match the extreme athletic ability of elite basketball players, but most folks in the USA, male and female, have caught and/or hit a ball.

Anyway, here, in all its glory is some more "American Batshittery":

Basketball league for white Americans targets Augusta
By Billy Byler| Staff Writer
Tuesday, January 19, 2010

A new professional basketball league boasting rosters made up exclusively of white Americans has its eyes set on Augusta, but the team isn't receiving a warm welcome.

Sign up for breaking news alerts from The Chronicle

The All-American Basketball Alliance announced in a news release Sunday evening that it intends to start its inaugural season in June and hopes Augusta will be one of 12 cities with a team.

"Only players that are natural born United States citizens with both parents of Caucasian race are eligible to play in the league," the statement said.

Augusta Mayor Deke Copenhaver, who has publicly expressed his support for minor league teams in the past, said he would not do the same for this team.

"As a sports enthusiast, I have always supported bringing more sporting activities to Augusta," he said. "However, in this instance I could not support in good conscience bringing in a team that did not fit with the spirit of inclusiveness that I, along with many others, have worked so hard to foster in our city."

Clint Bryant, athletic director at Augusta State University, laughed when he heard the news.

"It's so absurd, it's funny, but it gives you an idea of the sickness of our society" he said. "It shows you what lengths people will go to just to be mean-spirited. I think at any basketball level, no matter if it's all black, all white, all Hispanic, all Asian or anyone else, the players should just be a basketball team."

Don "Moose" Lewis, the commissioner of the AABA, said the reasoning behind the league's roster restrictions is not racism.

"There's nothing hatred about what we're doing," he said. "I don't hate anyone of color. But people of white, American-born citizens are in the minority now. Here's a league for white players to play fundamental basketball, which they like."

Lewis said he wants to emphasize fundamental basketball instead of "street-ball" played by "people of color." He pointed out recent incidents in the NBA, including Gilbert Arenas' indefinite suspension after bringing guns into the Washington Wizards locker room, as examples of fans' dissatisfaction with the way current professional sports are run.

"Would you want to go to the game and worry about a player flipping you off or attacking you in the stands or grabbing their crotch?" he said. "That's the culture today, and in a free country we should have the right to move ourselves in a better direction."

The Atlanta-based league, which will operate as a single-entity owning all of its teams, is looking for local contacts to pay $10,000 to become a "licensee" in one of 12 cities throughout the Southeast. Lewis said he has already received threats from people opposed to the roster restrictions and several cities have told him to stay out of town. Lewis said he has yet to hear from any one in Augusta.

"We need a local person ingrained into the community to make this successful," he said.

Lewis said he expects to eventually find support in every town with a team.

"People will come out and support a product they can identify with. I'm the spoken minority right now, but if people will give us a chance, it'll work... The white game of basketball, which is essentially a fundamental game, works."

Lewis said he wasn't sure where the team will play.

Augusta has had problems with minor league basketball teams in the past, but the issues never centered around race. The Augusta Drive lasted less than a month before folding in 1995, citing financial reasons. The Augusta Groove made it through a full, 20-game schedule in 2009, but accusations from players and local businesses that the team wasn't paying its bills surrounded the team during the second half of the season. The team later shut down in the offseason.

Thursday, January 21, 2010

Yessiree Bob!! This is too good. Another "god-fearin' 'murikan" exposed

This from Joe.My.God. Follow link for the rest


Tea Party Leader Busted For Child Rape, Found With Grenade Launcher

Former USMC Sgt. Charles Dyer is the organizer of a Tea Party offshoot called the Oath Keepers, a group dedicated to recruiting military personnel into the violent overthrow of the U.S. government. Dyer works as a liaison between militia groups and the Tea Party and last year spoke at a Tea Party rally in Oklahoma. On Tuesday, Dyer was arrested for the rape of a 7 year-old girl. During his arrest, police found a grenade launcher in his home.
Charles Alan Dyer, 29, of Marlow, was arrested Tuesday afternoon by Stephens County Sheriff’s deputies, said Sheriff Wayne McKinney. Dyer served in the United States Marines in Iraq. McKinney said charges included first degree rape and two counts of forcible sodomy. It is expected the charges will be formally presented in Stephens County District Court today, McKinney said. “These are what we are asking for through the District Attorney’s office,” McKinney said. The investigation began after the last alleged incident that was said to have taken place Jan. 2, at Dyer’s residence on Hope Road near Marlow.

During the search the sheriff’s deputies noted several firearms and a device believed to be a Colt M-203, 40-millimeter grenade launcher, a complaint filed in the United States District Court of Western Oklahoma by Alcohol, Firearms and Tobacco Special Agent Brett Williams said. On Wednesday, knowing that Dyer, an ex-Marine, had alleged contacts with militia groups and not knowing the legality of the alleged device, the Stephens County Sheriff's Office contacted federal agents and informed them of what the deputies had observed. Dyer’s affiliation with militia groups is apparent through the videos posted on his YouTube channel — July4Patriot.
A militia group called the American Resistance Movement claims that Dyer was set up and has started a fund for his defense. Crooks & Liars has much more about Dyer's arrest and backstory and points us to this chilling video from his YouTube channel, in which he urges military personnel to take up arms against the government.

Now he finally calls for regulation -- when it may be too late

Gee-whiz, do you think the Brown victory has affected Pres. Obama's "outlook" on Wall Street regulation? Even Paul Krugmanj is about to give up on our Pres.

Could it be because he seems to have no concept of fighting for principle? Because he has some exaggerated idea of his abilities, some need to be "cool" at all times?

This is no longer a simple little job he has. He is, for better or worse, OUR President. The way our government runs these days, if he does not show some leadership -- nothing gets done.

Congress has become useless. They are so accustomed to being a partisan rubberstamp they have forgotten how to LEGISLATE for anything more than their district or state. Totally useless.

This from Bloomberg:

"
Obama Calls for Limiting Size, Risk-Taking of Banks (Update2)

By Nicholas Johnston and Julianna Goldman

Jan. 21 (Bloomberg) -- President Barack Obama, tapping into voter anger over bank bailouts, called for limiting the size and trading activities of financial institutions as a way to reduce risk-taking and prevent another financial crisis.

The proposals, to be added to an overhaul of regulations being considered by Congress, would prohibit banks from running proprietary trading operations solely for their own profit and sponsoring hedge funds and private equity funds. He also proposes expanding a 10 percent market-share cap on deposits to include other liabilities such as non-deposit funding to restrict growth and consolidation.

“While the financial system is far stronger today than it was one year ago, it’s still operating under the same rules that led to its near collapse,” Obama said at the White House after meeting with former Federal Reserve Chairman Paul Volcker, who has been an advocate of taking such steps. “Never again will the American taxpayer be held hostage by a bank that is too big to fail.”

The proposals could affect trading at some of the nation’s largest banks, including New York-based Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co., said Frederic Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. Banks conduct proprietary trading for their own benefit, not for that of their clients.

JPMorgan, Morgan Stanley and Bank of America Corp. tumbled more than 5 percent in New York trading, leading the S&P 500 Financials Index down as much as 3.3 percent, its biggest decline since October. Goldman and Citigroup Inc. dropped more than 4 percent.

Congressional Approval

The plan is subject to approval by Congress, where the president’s earlier regulatory proposal has hit resistance from some lawmakers and opposition from financial firms. Financial industry executives, lobbyists and analysts were critical of the proposal.

Obama’s proposals are “arbitrary restrictions on growth and activities” of banks, the chief executive officer of Wall Street’s main lobbying group said in a statement today.

Tim Ryan, CEO of the Securities Industry and Financial Markets Association, said the group supports “strengthened regulatory oversight, and flexibility like that originally proposed by the administration.”

Obama anticipated that reaction in his remarks.

“If these folks want a fight, it’s a fight I’m ready to have,” he said.

Election Concerns

Voter concerns about the struggling economy, taxpayer bailouts and growing bank profits at a time of 10 percent unemployment, as well as a federal deficit that rose to $1.4 trillion last year, will figure in congressional elections in November. A Bloomberg National Poll taken Dec. 3-7 showed almost two-thirds of Americans say the government’s bank rescue was a bad idea.

The elections will determine whether Obama’s Democratic Party can sustain majorities in the House and Senate. Democratic candidates suffered defeats in gubernatorial races in Virginia and New Jersey last November and this week lost the U.S. Senate seat in Massachusetts that had been held been held by the late Edward Kennedy, a Democrat, for more than four decades.

Obama said he wants to “strengthen capability and liquidity requirements to make the system more stable.”

More Oversight

The new rules, Obama said, would close loopholes that allow big financial firms to trade products like credit-default swaps and other derivatives without oversight and while benefiting from Federal Reserve lending programs and taxpayer insurance of consumer deposits.

“When banks benefit from the safety net that taxpayers provide,” Obama said, “it is not appropriate for them to turn around and use that cheap money to trade for profit.”

Additionally, Obama said caps on deposits that prevent too much risk from being concentrated in a single bank will be applied to other types of funding to prevent firms from growing too large.

“The American people will not be served by a financial system that comprises just a few massive firms,” Obama said.

Glass-Steagall

David Viniar, Goldman’s chief financial officer, called the proposals “impractical” and said they harken back to the Depression-area Glass-Steagall Act. That law, repealed in 1999, required the separation of institutions involved in capital markets from those engaged primarily in traditional consumer banking.

“You have global institutions around the world who are set up in a certain way and to put rules in place that roll back the financial system by 10 years I think is going to be a very, very hard thing to do,” he said in a conference call with reporters.

Austan Goolsbee, a senior economic adviser to Obama, said the rules wouldn’t amount to a return of Glass-Steagall restrictions. They’re intended to restrain banks from investing with money backed by taxpayer funds, he said at a briefing.

David Nason, managing director of Promontory Financial Group, a financial-services consulting firm in Washington, said separating proprietary trading and private equity activities “will be very difficult to implement.”

“It’s one of those things that’s very easy to say, hard to do,” Nason said in a Bloomberg Television interview. “We’re in the third inning and we’ve got a lot of innings to go to see if this actually happens.”

Safer Investments

Jim Vogel, an interest rate strategist for FTN Financial in Memphis, Tennessee, said Obama’s comments caused bond investors to gravitate more toward safer investments like U.S. Treasury’s and government-backed mortgage bonds. The cost of credit default swaps on several major U.S. banks, which insure against failure, also rose sharply following Obama’s comments, he said.

“If this proposal freezes or reduces the banks’ ability or willingness to invest, other investors will pull back until other asset managers step in to take up the slack,” he said.

The proposals announced by Obama today are in addition the overhaul of U.S. financial regulations that the administration proposed in June to fix lapses in oversight and excessive risk- taking that helped push the economy into a prolonged recession.

Last week the president also announced a plan to impose a fee on as many as 50 financial companies to recover losses from the federal government’s Troubled Asset Relief Program.

To contact the reporters on this story: Nicholas Johnston in Washington at njohnston3@bloomberg.net; Julianna Goldman in Washington at jgoldman6@bloomberg.net

Last Updated: January 21, 2010 13:42 EST