Sector suffers through series of failures

October 2008
Las Vegas Business Press (10712186);10/27/2008, Vol. 25 Issue 43, p7
The article reports on the series of failures that have hit the banking sector in Nevada. The past four months saw 15 banks that have failed around the country including Nevada's Silver State Bank and First National Bank. In the second quarter of 2008, the Federal Deposit Insurance Corp. (FDIC) reported that 117 banks and thrifts were in trouble, the highest since 2003. This prompted the Treasury Department to buy ownership stakes in financially weak commercial banks to strengthen balance sheets and persuade banks to start making loans again.


Related Articles

  • Two more bank failures push yearly total to 11.  // North Western Financial Review;10/1/2008, Vol. 193 Issue 19, p30 

    The article reports on the business failures of U.S.-based banks including Integrity Bank and Silver State Bank of Henderson. It states that Integrity Bank failed on August 29, 2008, followed by Silver State Bank on September 5, 2008. In connection, Federal Deposit Insurance Corp. estimates the...

  • A Sterling Reputation Can Lure Deposits. Sweeney, Paul // Bank Director;2010 4th Quarter, Vol. 20 Issue 4, p10 

    The article discusses the performance of the Sterling National Bank amidst the recovering financial scenario. While the Federal Deposit Insurance Corporation has closed a total of 118 banks as of Labor Day, Sterling National Bank's loan portfolio and deposits grew 5 percent and 25 percent,...

  • FDIC Supervision Faulted. Adler, Joe // American Banker;4/6/2009, Vol. 173 Issue 65, p16 

    The article discusses criticisms that have been given to the Federal Deposit Insurance Corp. (FDIC) regarding its oversight of Silver State Bank. Specific criticisms that were part of a report released regarding the FDIC's handling of Silver State Bank are mentioned. Comments that Sandra...

  • FDIC wary of discount bank lending practices. Gerrie // Las Vegas Business Press;10/18/99, Vol. 16 Issue 41, p7 

    Reports on the concerns of the US Federal Deposit Insurance Corp. (FDIC) on the level of subprime lending practices of banks due to increased market competition. Risk transferred by consumer lending programs to FDIC; Record profits of commercial banks for the first half of 1999; Bank failures...

  • Bank loans grow in second quarter.  // Corridor Business Journal;9/3/2012, Vol. 9 Issue 6, p9 

    The article reports on the increase of bank loans in Iowa from $155 million to $42.3 billion in the second quarter of 2012, according to the Quarterly Banking Profile from the Federal Deposit Insurance Corp. (FDICP).

  • FDIC Issues Draft Guidelines for Payday Practices . Jackson, Ben // American Banker;1/30/2003, Vol. 168 Issue 20, p2 

    Reports on the issuance of draft guidelines by U.S. Federal Deposit Insurance Corp. for state-chartered banks engaged in payday lending as of January 30, 2003. Limitation on number of loans made to a single customer in a calendar year; Classification of payday loans; Relationship of bank with...

  • Regulators target former Silver State Bank exec. Sieroty, Chris // Las Vegas Business Press (10712186);10/24/2011, Vol. 28 Issue 43, pP21 

    The article discusses the proposed penalties to be imposed on Steven D. Haynes, a former bank officer for Silver State Bank, for allegedly engaging in reckless banking practices. It states that the bank failed and was seized in September 2008 and that the Federal Deposit Insurance Corp. (FDIC)...

  • For numerous banks, times still troubling. Skarbeck, Ken // Indianapolis Business Journal;8/24/2009, Vol. 30 Issue 25, p20A 

    The article offers information on the reports made by the Federal Deposit Insurance Corp. (FDIC) which manifests that some banks are still struggling in Indianapolis, Indiana. It mentions that the agency's list presents the assets and deposits of the failed banks the basic terms of the purchase...

  • How Fear of Bank Run Altered Outcome for Latest Failures. Adler, Joe // American Banker;8/1/2008, Vol. 173 Issue 148, p1 

    This article discusses a decision by the U.S. Federal Deposit Insurance Corp. (FDIC) To cover all of the deposits of the First National Bank of Nevada and the First Heritage Bank. This decision marked a break from the FDIC policy which only covers deposits up to $200,000 when banks fail. This...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics