Friday – day closure of banks in the U.S.

U.S. Regulators on Friday shut Corus bank, the fourth largest bankruptcy in U.S. since the beginning of the year and sold its deposits of MB Financial bank. Controlled over a long period of its existence the family Glikman, Chicago-based bank collapsed under the pressure of bad loans which was credited with commercial real estate and new residential construction in Arizona, Southern California, South Florida and Nevada.
Failure of Corus, plus those of two small banks on Friday made a number of bankrupt banks in the U.S. since the beginning of the year 92 companies from the sector.
Corus leaving 11 branches in the Chicago area, who are expected to open as branches of MB Financial bank. Corus deposits will automatically become deposits of MB Financial.
Bankrupt bank had assets and liabilities of approximately USD 7 billion U.S. dollars. The closure will cost the bank to fund the Federal deposit insurance corporation for $ 1.7 billion in April when the bank has begun to return downward spiral President Robert Glikman and chairman of the board Glikman Joseph resign. Even in August Glikman family sold part of its stake in the bank’s regulatory report shows. Dramatic increase of bankruptcies of banks, many of which are already under pressure from bad loans secured by commercial real estate fund emptied FDIC.
Deposit insurance fund had $ 10.4 billion at the end of the second quarter, this amount did not include $ 32 billion earmarked for bankruptcy next year. On Friday, except Corus closed Brickwell Community Bank in Uudbari, Minnesota and Venture Bank, in Lacey, Washington.
Venture Bank will be assumed by First-Citizens Bank & Trust Company of Raleigh, North Carolina. The bank had assets of $ 970 million and deposits of nearly $ 903 million at the end of July. Brickwell Community Bank, which has only one branch will be absorbed by CorTrust Bank – defunct bank had assets of $ 72 million and deposits of nearly $ 63 million for last year compared FDIC closed the 25 companies in the sector, and in 2007 the number They were only 3. Earlier FDIC said the banking sector in the U.S. in the second quarter of the year goes back losses over the period reached $ 3.7 billion after the first quarter of 2009 reported profit of $ 7.6 billion principal reason for the negative result is increased volume of problem loans, coupled with the reduction in value of assets.
By the leadership of FDIC state that while problem loans during the quarter decreased by volume. The number of problem U.S. banks during the second quarter increased by one third, reaching 416 credit companies.
And although the volume of bad loans continue to grow, regulators see signs of improvement in the situation in the banking sector. Problems in the sector of commercial real estate increasingly will become the cause of bankruptcies in American banks, said President of the Federal Corporation for deposit insurance (FDIC), AP reported.
According to Sheila Beyer, loans for commercial property continues to threaten the bank accounts and she expects that more banks will often fail because of difficulties in this sector during the current and coming year. FDIC said the banking sector of the United States again in the second quarter was a loss, which reached $ 3.7 billion after the first quarter of the year, companies reported an aggregate profit sector of $ 7.6 billion main reason for this besides “ bad loans is lowering the value of assets.
At the same time the leadership of FDIC states that the growth of problem loans during the quarter was delayed and this is probably a breakthrough in the quality of assets as a burden that weighed on the sector. The total volume of assets of the 416 problem banks at the rate of $ 299.8 billion, while the problem in the first quarter were 305 companies with assets of $ 220 billion pieces of their growth is attributed to problems with liquidity, the capital amount and quality of assets.

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Finance

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