Here are 20 notable US bank failures and why they failed:
- Lehman Brothers (2008) - Lehman Brothers was a global financial services firm that filed for bankruptcy in September 2008. The company had invested heavily in subprime mortgages, which eventually led to its downfall and played a significant role in the global financial crisis.
- Washington Mutual (2008) - Washington Mutual was a savings and loan bank that failed in September 2008. The bank was heavily invested in risky mortgages, and as the housing market declined, it suffered significant losses.
- IndyMac Bank (2008) - IndyMac Bank was a savings and loan bank that failed in July 2008. The bank had issued a large number of subprime mortgages, and when borrowers started defaulting, the bank was unable to cover its losses.
- Colonial Bank (2009) - Colonial Bank was a regional bank that failed in 2009 due to fraud and mismanagement. The bank's executives had falsified financial records to cover up significant losses, which eventually led to its collapse.
- Guaranty Bank (2009) - Guaranty Bank was a regional bank that failed in 2009 due to bad loans and poor management. The bank had invested heavily in risky real estate loans, which eventually led to its downfall.
- BankUnited (2009) - BankUnited was a regional bank that failed in 2009 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
- Colonial BancGroup (2009) - Colonial BancGroup was the parent company of Colonial Bank and failed in 2009 due to fraud and mismanagement.
- First National Bank of Nevada (2008) - First National Bank of Nevada failed in 2008 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
- Silver State Bank (2008) - Silver State Bank failed in 2008 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
- Corus Bank (2009) - Corus Bank was a Chicago-based bank that failed in 2009 due to bad loans and poor management. The bank had invested heavily in risky real estate loans, which eventually led to its downfall.
- Franklin Bank (2008) - Franklin Bank was a Houston-based bank that failed in 2008 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
- Integrity Bank (2008) - Integrity Bank was a Georgia-based bank that failed in 2008 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
- Community Bank of Nevada (2009) - Community Bank of Nevada failed in 2009 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
- First Priority Bank (2009) - First Priority Bank was a regional bank that failed in 2009 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
- ANB Financial (2008) - ANB Financial was an Arkansas-based bank that failed in 2008 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
- Frontier Bank (2009) - Frontier Bank was a regional bank that failed in 2009 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
- United Commercial Bank (2009) - United Commercial Bank was a California-based bank that failed in 2009 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans, particularly in the Bay Area, which eventually led to its downfall.
- Silverton Bank (2009) - Silverton Bank was a Georgia-based bank that failed in 2009 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
- Pacific Coast National Bank (2008) - Pacific Coast National Bank was a California-based bank that failed in 2008 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
- First Georgia Community Bank (2009) - First Georgia Community Bank was a regional bank that failed in 2009 due to bad loans and poor management. The bank had a large portfolio of risky real estate loans that it was unable to manage.
Overall, many of these banks failed due to their heavy investment in risky real estate loans, particularly in the subprime market, and their inability to manage the associated risks. Poor management and fraudulent activities also played a role in several cases. The failure of these banks had significant impacts on the overall economy and the financial industry, particularly during the 2008-2009 financial crisis.
Figuring out the limits of my brain function.
1 年Shouldn't Colonial BancGroup be a victim here of its subsidiary employees at Colonial Bank and the actions of the fake mortgage loans thru Ocala Lending LLC (subs of TWB) and PwC? Ocala got 330 M from the FDIC - FDIC has won millions from PwC for not detecting fraud as well as a PwC employee becoming an oversight exec at Colonial Bank in 2005. Are regulators, auditors, and the parent holding company's subsidiary executives actions in secret since PwC audits being done ordered by Colonial BancGroup were being presented as accurate and for that reason Colonial BancGroup is owed $$$$$ in the losses it sustained?