Failures

Lax board oversight, reckless growth led to Kansas bank's failure: Report

03/26/21

A federal watchdog agency determined that Almena State Bank's push into government-backed loans, supported with high-cost wholesale funding, set it up for collapse when significant credit issues arose.

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New indictments issued in case of failed Chicago bank

03/01/21

Four former employees and several clients of Washington Federal Bank for Savings face charges of falsifying records to conceal the embezzlement of $31 million prior to the bank's December 2017 collapse.

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Accounting firm settles FDIC claims tied to Chicago bank's failure

12/16/20

Bansley & Kiener, without admitting wrongdoing, agreed to pay $2.5 million to address allegations that lax oversight contributed to the 2017 collapse of Washington Federal Bank for Savings.

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Share insurance fund reforms can't wait

12/03/20

A number of reasonable changes to the National Credit Union Share Insurance Fund could help NCUA avoid charging premiums.

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Regulators close Kansas bank in fourth failure of 2020

10/23/20

Equity Bank agreed to buy most of the assets, and assume all the deposits, of Almena State Bank.

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Regulators close Florida bank in third failure of 2020

10/16/20

First City Bank of Florida had suffered “longstanding capital and asset quality issues” that were unrelated to the pandemic, the FDIC said.

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Four bankers of failed thrift charged with helping client embezzle funds

08/29/20

The Justice Department alleges that the bankers worked with “higher-ranking bank officials” at Washington Federal Bank for Savings in Chicago to falsify records and hide funds prior to the bank's December 2017 collapse.

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Former First NBC executives charged with fraud tied to bank's failure

07/14/20

Ashton Ryan, the New Orleans bank's CEO, and two other officers are accused of disguising the financial condition of certain borrowers before the bank's 2017 collapse.

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Are lawmakers inviting ‘hot money’ boom with brokered deposit bill?

07/08/20

Backers say a bill to limit asset growth instead of restricting brokered funds addresses concerns about expanding balance sheets at troubled banks. But skeptics worry it would open the door to greater risk.

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