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10 Banks That Could Fail In 2010

The list of troubled banks maintained by the FDIC still has over 700 names on it (though the list is confidential). The FDIC has more banks on its trouble list than it has manpower to deal with, slowing down the whole process of closing failing institutions. And because the process is slower and the banks are smaller, the public has been lulled into a state of complacency, with many believing that there's nothing to worry about.

Those people are wrong.
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Crescent Bank & Trust $1 billion in assets
Midwest Bank $3.4 billion in assets
Integra Bank $2.9 billion in assets
Bank of Florida $1.5 billion in assets
Sonoma Valley Bank $363 million in assets
Bank of the Cascades $2.2 billion in assets
Sterling Financial $10.6 billion in assets
Capitol Bancorp $5.1 billion in assets
Independent Bank Corp $2.9 billion in assets
TIB Financial $1.7 billion in assets

More at:
http://investinganswers.com/a/10-banks-could-fail-2010-1199



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Midwest Banc’s Lender in Illinois Shut After Taking TARP Funds

Doesn't appear to be one of the above, Bank, Banc
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May 15 (Bloomberg) -- Midwest Banc Holdings Inc., recipient of $84.8 million in bailout funds from the Troubled Asset Relief Program, had its Illinois lender seized by regulators as the count of failed U.S. banks this year rose to 72.

Midwest Bank and Trust, with $3.17 billion in assets and 23 retail branches, was closed yesterday by a state regulator, according to a statement on the Federal Deposit Insurance Corp. website. Firstmerit Bank of Akron, Ohio, assumed all the $2.42 billion in deposits. The U.S. Treasury Department’s stake is made up of convertible preferred shares, Midwest said in a statement on March 2.

More at:
http://www.businessweek.com/news/2010-05-15/midwest-banc-s-l...

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