Latest FDIC Orders Include Bank in Shabbona


Farmers’ and Traders’ State Bank in Shabbona recently agreed to accept a Consent Order from the FDIC. FDIC issued the order one month ago and made it public yesterday, as is its usual procedure.

Yesterday also a bank in Plano, Texas, became the 74th bank to close in the U.S. in 2011. Bank failures peaked last year at 157, and in 2009 we had 140. Failing banks tend to be smaller this year than in the past few.

Still, the list of troubled institutions continues to grow. FDIC does not publish its official problem banks list, but Calculated Risk Blog has posted an unofficial list using public information since August 2009 when its count was 389, and by the end of this past July it was 995. The list does not include bank failures or unassisted mergers.

CR’s on citybarbs’ Public Policy blogroll. It’s my go-to for housing information.