On Friday, the Illinois Department of Financial and Professional Regulation – Division of Banking closed Independent Bankers’ Bank, headquartered in Springfield, Illinois, and theFDIC was named as receiver. As receiver, the FDIC created Independent Bankers’ Bank Bridge Bank, National Association to take over the operations of the failed bank.
Yesterday, the Georgia Departments of Banking and Finance closed United Security Bank, headquartered in Sparta, Georgia, and the FDIC was named as receiver.
On Friday, the FDIC was named as receiver for two failed subsidiaries of Irwin Financial Corporation, headquartered in Columbus, Indiana.
Today, the U.K. Treasury announced that it “has taken decisive action to protect the interests of retail depositors and wider financial stability” by placing London Scottish Bank plc in administration.
On Friday, the Georgia Department of Banking and Finance closed Bank of Ellijay, headquartered in Ellijay, Georgia, First Commerce Community Bank, headquartered in Douglasville, Georgia, and The Peoples Bank, headquartered in Winder, Georgia, and appointed the FDIC as receiver for each bank. The failed banks were not affiliated with one another.
On Friday, the Oregon Department of Consumer and Business Services closed Home Valley Bank, headquartered in Cave Junction, Oregon, and appointed the FDIC as receiver for the bank.
On Tuesday, the Bank of Spain released details regarding the status of the restructuring of the Spanish savings bank sector, in what it called “the biggest overhaul of the Spanish banking sector in recent history.” The Bank also provided details regarding funding for bank restructurings supplied by the Fund for the Orderly Restructuring of the Banking Sector (FROB),
On Friday, the Missouri Division of Finance closed Southwest Community Bank, headquartered in Springfield, Missouri .