Fulltext Search
Centennial Bank assumes all of the deposits of Wakulla Bank

On Friday, the Florida Office of Financial Regulation closed Wakulla Bank, headquartered in Crawfordville, Florida, and appointed the FDIC as receiver. As receiver, the FDIC entered into a purchase and assumption agreement with Centennial Bank, headquartered in Conway, Arkansas, to assume all of the deposits of the failed bank.

USA, Florida, Banking, Insolvency & Restructuring, Alston & Bird LLP, Federal Deposit Insurance Corporation (USA)
GBC International Bank assumes all of the deposits of Shoreline Bank

On Friday, the Washington Department of Financial Institutions closed Shoreline Bank, headquartered in Shoreline, Washington, and appointed the FDIC as receiver. As receiver, the FDIC entered into a purchase and assumption agreement with GBC International Bank, headquartered in Los Angeles, California, to assume all of the deposits of the failed bank.

USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, US Federal Government, Federal Deposit Insurance Corporation (USA)
The Jefferson Bank assumes all of the deposits of First National Bank

On Friday, the Office of the Comptroller of the Currency closed First National Bank, headquartered in Rosedale, Mississippi, and appointed the FDIC as receiver.

USA, Mississippi, Banking, Insolvency & Restructuring, Alston & Bird LLP, Office of the Comptroller of the Currency (USA), Federal Deposit Insurance Corporation (USA)
Court confirms CIT reorganization plan

CIT Group Inc.

USA, New York, Insolvency & Restructuring, Alston & Bird LLP, Share (finance), Bankruptcy, Security (finance), Board of directors, Debt, Stock exchange, Preferred stock, New York Stock Exchange, Small Business Administration (USA), Chief executive officer, United States bankruptcy court
CIT announces reorganization plan solicitation results

CIT Group Inc.

USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Bankruptcy, Debt, Voting, Solicitation, Election, Brokerage firm
Federal Reserve Governor Tarullo considers regulation of large institutions

Yesterday, Daniel K. Tarullo, a governor of the Federal Reserve System, continued his vigorous speaking schedule with a speech at the Institute of International Bankers Conference on Cross-Border Insolvency Issues in New York.

USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Bankruptcy, Shareholder, Advance healthcare directive, Federal Reserve (USA), US House Committee on Financial Services
CIT files for bankruptcy

CIT Group Inc.

USA, New York, Insolvency & Restructuring, Litigation, Alston & Bird LLP, Wage, Bankruptcy, Debtor, Board of directors, Market liquidity, Limited liability company, Debt, Line of credit, Subsidiary, Preferred stock
Financial Crisis Advisory Group issues report on accounting standard setting

Tuesday, the Financial Crisis Advisory Group (FCAG) issued its report on “the standard-setting implications of

USA, Banking, Capital Markets, Insolvency & Restructuring, Alston & Bird LLP, Accounting, Due process, FSAB, International Accounting Standards Board