6 bank failures cost the FDIC $1856.0 million

[FarCenter]

American Marine Bank,           Bainbridge Island WA     $58.9 million
First Regional Bank,            Los Angeles CA          $825.5 million
Community Bank and Trust,       Cornelia GA             $354.5 million
Marshall Bank, N.A.,            Hallock MN                $4.1 million
Florida Community Bank,         Immokalee FL            $352.6 million
First National Bank of Georgia, Carrollton GA           $260.4 million
                                                       ===============
Total                                                  $1856.0 million

[BeatleBoot]

1. So that's $ 1.8 BILLION?

Link?

[FarCenter]

3. The losses are in each press release

Start here http://www.fdic.gov/bank/individual/failed/banklist.html

Click on each bank to get the Failed Bank Information, e.g. http://www.fdic.gov/bank/individual/failed/firstregional.html.

Each summary has a link to the press release, e.g. http://www.fdic.gov/news/news/press/2010/pr10026.html

The loss is in the last paragraph before the '###' and the boilerplate.

[FarCenter]

2. First Regional -- how does a bank with $1.9 billion in deposits lose $0.8 billion?

http://www.latimes.com/business/la-fi-bank-failure30-2010jan30,0,6015541.story

Like other institutions that have failed in the last two years, such as Affinity Bank in Ventura, Security Pacific Bank of West Los Angeles and 1st Centennial Bank of Redlands, First Regional overextended itself on construction lending during the economic boom years. It had six full-service branches in Los Angeles County, one in Irvine and another in Westlake Village, with nearly $1.9 billion in deposits.

[conscious evolution]

4. Have you ever looked up the ownership of the failed banks?

I looked up a couple of Georgia banks this summer.One had Zell Miller,William Bennet and former Ga SecState Cathy Cox listed as being board members.I posted this on another site.Next thing I knew the SEC filings and state corporate filings for many of the banks have been disappeared.

I think there is more to these banks failing then meets the eye.

[FarCenter]

5. Like you say, its hard to find the true scoop on these small bank failures

But it does appear that many fail because of loans handed out to friends of the bank management, boards of directors, etc. In general, other "influential" people in the communities, construction industry friends, land speculators, and general good golfing buddies.

Why people on DU like small banks is beyond me. They are just as corrupt as the big ones.

[conscious evolution]

6. I would love to see

who these banks were lending to.I bet there would be a lot of interesting names on those lists.

[johnfunk]

7. I hope you still have acopy in your browser cache -- it would make for a good graphic...