Victory 1 Project

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Banks and Banking

Yes about 50 more banks shut down and when people ask why the large banks seem to swallow up the smaller banks, I finally found a great explanation.

This video is about 28 minutes and if you watch the complete video, you will understand what the American banks are doing with your money.

One other note: I want to thank The Property Patrol for supporting our efforts. Please visit their website here.

Enjoy this video:

May 11, 2011 Posted by | Uncategorized | , , , , , , , , , , | Leave a comment

San Joaquin Bank, Bakersfield, CA Fails 99th Bank Failure This Year

Detective Krum

Detective Krum

San Joaquin Bank in Bakersfield, California failed October 16th and makes the 99th bank failure in 2009.  FDIC, in need of its own bailout, posted the following information:

San Joaquin Bank, Bakersfield, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. FDIC entered into a purchase and assumption agreement with Citizens Business Bank, Ontario, California, to assume all of the deposits of San Joaquin Bank.

The five branches of San Joaquin Bank will reopen on Monday as branches of Citizens Business Bank. Depositors of San Joaquin Bank will automatically become depositors of Citizens Business 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 Citizens Business Bank that it has completed systems changes to allow other Citizens Business Bank branches to process their accounts as well.

This evening and over the weekend, depositors of San Joaquin 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 29, 2009, San Joaquin Bank had total assets of $775 million and total deposits of approximately $631 million. Citizens Business Bank did not pay the FDIC a premium for the deposits of San Joaquin Bank. In addition to assuming all of the deposits of the failed bank, Citizens Business Bank agreed to purchase essentially all of the assets.

The FDIC and Citizens Business Bank entered into a loss-share transaction on approximately $683 million of San Joaquin Bank’s assets. Citizens Business Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share arrangement is projected to maximize returns on the assets covered by keeping them in the private sector.

October 19, 2009 Posted by | 1 | , , | 2 Comments

Florida’s Best Banks

Detective Krum

Detective Krum

Florida’s best banks aren’t based on service or location but on banking strength ratings.  When I looked at all (A) rated banks throughout the whole state of Florida, I found only five (A) rated banks and here they are:

Drummond Community Bank in Chiefland, Florida Rated (A+)

First Federal Bank in Lake City, Florida Rated (A)

Hillsboro Bank in Plant City, Florida Rated (A-)

First National in Mount Dora, Florida Rated (A-)

City National in Miami, Florida (A-)

Peoples Bank in Graceville, Florida Rated (A)

There are 22 banks in Florida rated in the (B) ratings. If you need more information on Florida banks, send a message.

October 16, 2009 Posted by | 1 | , | 4 Comments

Democrat or Republican Bank Failures

Detective Krum

Detective Krum

A whopping 98 Banks have failed in 2009 and we have three more months to go.

And 26 banks failed in 2008.

Compare to 27 banks failed from 2000 until 2008.

I thought the bank bailouts were going to save the banks.  Yet since the bailouts, bank failures have been five times higher than prior to the bank bailouts. Maybe you need to ask your Congressman/woman why the disparity.  Then ask what was the purpose of the bailout.  Then you may want to tell them to repeal the law.

I thought I’d look at the states that have failed banks, do they have a Democrat or Republican governor?  Here are my results: 47 Democrat entries 51 Republican entries. We know Arnold Schwarzenegger of California, Charlie Crist of Florida and probably Sonny Purdue of Georgia are not conservative Republicans – they are very liberal Democrats who couldn’t get elected unless they ran as a Republican. They will be added to our Lip Service Candidate list here.

List of the 98 failed banks for 2009:

Southern Colorado National Bank Pueblo CO August William “Bill” Ritter, Jr Democrat
Jennings State Bank Spring Grove MN Timothy Pawlenty Republican
Warren Bank Warren MI Jennifer M. Granholm Democrat
Georgian Bank Atlanta GA Sonny Perdue Republican
Irwin Union Bank, F.S.B. Louisville KY Steven L. Beshear Democrat
Irwin Union Bank and Trust Company Columbus IN Mitch Daniels Republican
Venture Bank Lacey WA Christine Gregoire Democrat
Brickwell Community Bank Woodbury MN Timothy Pawlenty Republican
Corus Bank, N.A. Chicago IL Pat Quinn Democrat
First State Bank Flagstaff AZ Janet Napolitano Democrat
Platinum Community Bank Rolling Meadows IL Pat Quinn Democrat
Vantus Bank Sioux City IA Chester John “Chet” Culver Democrat
InBank Oak Forest IL Pat Quinn Democrat
First Bank of Kansas City Kansas City MO Jay Nixon Democrat
Affinity Bank Ventura CA Arnold Schwarzenegger Republican
Mainstreet Bank Forest Lake MN Timothy Pawlenty Republican
Bradford Bank Baltimore MD Martin Joseph O’Malley Democrat
Guaranty Bank Austin TX Rick Perry Republican
CapitalSouth Bank Birmingham AL Bob Riley Republican
First Coweta Bank Newnan GA Sonny Perdue Republican
ebank Atlanta GA Sonny Perdue Republican
Community Bank of Nevada Las Vegas NV James Arthur “Jim” Gibbons Republican
Community Bank of Arizona Phoenix AZ Janet Napolitano Democrat
Union Bank, National Association Gilbert AZ Janet Napolitano Democrat
Colonial Bank Montgomery AL Bob Riley Republican
Dwelling House Savings and Loan Association Pittsburgh PA Edward G. Rendell Democrat
Community First Bank Prineville OR Ted Kulongoski Democrat
Community National Bank of Sarasota County Venice FL Charles Joseph Crist, Jr. Republican
First State Bank Sarasota FL Charles Joseph

Crist, Jr.

Republican
Mutual Bank Harvey IL Pat Quinn Democrat
First BankAmericano Elizabeth NJ Jon Stevens Corzine Democrat
Peoples Community Bank West Chester OH Ted Strickland Democrat
Integrity Bank Jupiter FL Charles Joseph Crist, Jr. Republican
First State Bank of Altus Altus OK Brad Henry Democrat
Security Bank of Jones County Gray GA Sonny Perdue Republican
Security Bank of Houston County Perry GA Sonny Perdue Republican
Security Bank of Bibb County Macon GA Sonny Perdue Republican
Security Bank of North Metro Woodstock GA Sonny Perdue Republican
Security Bank of North Fulton Alpharetta GA Sonny Perdue Republican
Security Bank of Gwinnett County Suwanee GA Sonny Perdue Republican
Waterford Village Bank Williamsville NY David A. Paterson Democrat
Temecula Valley Bank Temecula CA Arnold Schwarzenegger Republican
Vineyard Bank Rancho Cucamonga CA Arnold Schwarzenegger Republican
BankFirst Sioux Falls SD M. Michael Rounds Republican
First Piedmont Bank Winder GA Sonny Perdue Republican
Bank of Wyoming Thermopolis WY Dave Freudenthal Democrat
Founders Bank Worth IL Pat Quinn Democrat
Millennium State Bank of Texas Dallas TX Rick Perry Republican
First National Bank of Danville Danville IL Pat Quinn Democrat
Elizabeth State Bank Elizabeth IL Pat Quinn Democrat
Rock River Bank Oregon IL Pat Quinn Democrat
First State Bank of Winchester Winchester IL Pat Quinn Democrat
John Warner Bank Clinton IL Pat Quinn Democrat
Mirae Bank Los Angeles CA Arnold Schwarzenegger Republican
MetroPacific Bank Irvine CA Arnold Schwarzenegger Republican
Horizon Bank Pine City MN Timothy Pawlenty Republican
Neighborhood Community Bank Newnan GA Sonny Perdue Republican
Community Bank of West Georgia Villa Rica GA Sonny Perdue Republican
First National Bank of Anthony Anthony KS Mark V. Parkinson Democrat
Cooperative Bank Wilmington NC Beverly Perdue Democrat
Southern Community Bank Fayetteville GA Sonny Perdue Republican
Bank of Lincolnwood Lincolnwood IL Pat Quinn Democrat
Citizens National Bank Macomb IL Pat Quinn Democrat
Strategic Capital Bank Champaign IL Pat Quinn Democrat
BankUnited, FSB Coral Gables FL Charles Joseph Crist, Jr. Republican
Westsound Bank Bremerton WA Christine Gregoire Democrat
America West Bank Layton UT Jon Huntsman, Jr. Republican
Citizens Community Bank Ridgewood NJ Jon Stevens Corzine Democrat
Silverton Bank, NA Atlanta GA Sonny Perdue Republican
First Bank of Idaho Ketchum ID Clement Leroy “Butch” Otter Republican
First Bank of Beverly Hills Calabasas CA Arnold Schwarzenegger Republican
Michigan Heritage Bank Farmington Hills MI Jennifer M. Granholm Democrat
American Southern Bank Kennesaw GA Sonny Perdue Republican
Great Basin Bank of Nevada Elko NV James Arthur “Jim” Gibbons Republican
American Sterling Bank Sugar Creek MO Jay Nixon Democrat
New Frontier Bank Greeley CO August William “Bill” Ritter, Jr Democrat
Cape Fear Bank Wilmington NC Beverly Perdue Democrat
Omni National Bank Atlanta GA Sonny Perdue Republican
TeamBank, NA Paola KS Mark V. Parkinson Democrat
Colorado National Bank Colorado Springs CO August William “Bill” Ritter, Jr Democrat
FirstCity Bank Stockbridge GA Sonny Perdue Republican
reedom Bank of Georgia Commerce GA Sonny Perdue Republican
Security Savings Bank Henderson NV James Arthur “Jim” Gibbons Republican
Heritage Community Bank Glenwood IL Pat Quinn Democrat
Silver Falls Bank Silverton OR Ted Kulongoski Democrat
Pinnacle Bank of Oregon Beaverton OR Ted Kulongoski Democrat
Corn Belt Bank & Trust Co. Pittsfield IL Pat Quinn Democrat
Riverside Bank of the Gulf Coast Cape Coral FL Charles Joseph Crist, Jr. Republican
Sherman County Bank Loup City NE Dave Heineman Republican
County Bank Merced CA Arnold Schwarzenegger Republican
Alliance Bank Culver City CA Arnold Schwarzenegger Republican
FirstBank Financial Services McDonough GA Sonny Perdue Republican
Ocala National Bank Ocala FL Charles Joseph Crist, Jr. Republican
Suburban FSB Crofton MD Martin Joseph O’Malley Democrat
MagnetBank Salt Lake City UT Jon Huntsman, Jr. Republican
1st Centennial Bank Redlands CA Arnold Schwarzenegger Republican
Bank of Clark County Vancouver WA Christine Gregoire Democrat
National Bank of Commerce Berkeley IL Pat Quinn Democrat

October 5, 2009 Posted by | 1 | , , , , , | 3 Comments

Bank Failures Skyrocket

Detective Krum

Detective Krum

How many banks failed from the year 2000 to December 2008?

How many banks failed from January 1, 2009 until August 2009?

The question, what was the purpose of the bank bailout stimulus?

The United States Congress crammed down American’s throats the bank bailouts under the pretense that the economy would collapse if bailouts did not pass.  93% of Americans strongly opposed the bank bailouts and Congress said, in essence, shove it up your ass as they passed the bailouts.

What was the purpose of the bank bailout? The synopsis on Wikipedia states:

The Emergency Economic Stabilization Act of 2008, commonly referred to as a bailout of the U.S. financial system, is a law enacted in response to the subprime mortgage crisis authorizing the United States Secretary of the Treasury to spend up to US$700 billion to purchase distressed assets, especially mortgage-backed securities, and make capital injections into banks. Both foreign and domestic banks are included in the bailout. The Federal Reserve also extended help to American Express, whose bank-holding application it recently approved.The Act was proposed by Treasury Secretary Henry Paulson during the global financial crisis of 2008.

Then why did 7 banks fail from the year 2000 through 2008 and since the bank bailout was passed from January 1, 2009 until August 2009 there have been 57 bank failures? See bank failures.

August 28, 2009 Posted by | 1 | | Leave a comment

Ocala National Bank Closes & Riverside of Florida

Detective Krum

Detective Krum

Another one bites the dust.

Riverside Bank in Florida closes on President’s Day when                                                the bank was closed to customers.  Hmmm

SunTrust Bank is now subsidized by taxpayers when SunTrust took part in the bank bailouts.  Now, SunTrust advertises how ‘strong & sound’ they are but they don’t tell you it is because they received bailout money. Their bank rating is still  C- even after their share of taxpayer subsidies.

As for Riverside, below is a copy in full of the FDIC press release:

IB Bank, Naples, Florida, Assumes All of the Deposits of Riverside Bank of the Gulf Coast, Cape Coral, Florida

FOR IMMEDIATE RELEASE
February 13, 2009
Media Contact:
David Barr (202) 898-6992
Cell: (703) 622-4790
E-mail: dbarr@fdic.gov

Riverside Bank of the Gulf Coast, Cape Coral, 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 TIB Bank, Naples, Florida, to assume all of the deposits of Riverside Bank.

Due to the observance of Presidents’ Day on Monday, Riverside’s nine offices will reopen on Tuesday as branches of TIB Bank. Depositors of Riverside Bank will automatically become depositors of TIB 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 of both banks should continue to use their existing branches until TIB Bank can fully integrate the deposit records of Riverside Bank.

Over the weekend, depositors of Riverside 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 December 31, 2008, Riverside Bank had total assets of approximately $539 million and total deposits of $424 million. TIB Bank agreed to pay the FDIC a premium of 1.3 percent.

TIB Bank will not assume $142.6 million in brokered deposits held by Riverside Bank. The FDIC will pay the brokers directly for the amount of their funds. Customers who placed money with brokers should contact them directly for more information about the status of their deposits.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-823-5028. This phone number will be operational this evening until 9:00 p.m., 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.

Customers who would like more information about today’s transaction can also visit the FDIC’s Web site at http://www.fdic.gov/bank/individual/failed/riverside.html.

In addition to assuming all of the deposits of Riverside Bank, TIB Bank agreed to purchase approximately $125 million in assets, comprised mainly of cash, cash equivalents and marketable securities. The FDIC will retain the remaining assets for later disposition.

The FDIC estimates that the cost to the Deposit Insurance Fund will be $201.5 million. TIB Bank’s acquisition of all of the deposits was the “least costly” resolution for the FDIC’s Deposit Insurance Fund compared to alternatives. Riverside Bank is the eleventh bank to fail in the nation this year. The last bank to fail in Florida was Ocala National Bank on January 30, 2009.

Riverside Bank of the Gulf Coast is not affiliated with either Riverside National Bank of Florida, Fort Pierce, or with Riverside Bank of Central Florida, Winter Park.

# # #

February 17, 2009 Posted by | 1 | , , | 1 Comment