Bank CAMELS
Bank safety ratings based upon financial institutions’ Capital Adequacy, Asset Quality, Management, Earnings, Liquidity, and Sensitivity (CAMELS)

2019 Bank Failures

Jan. 25, 2020 |  Categories:  Banks in General  

After experiencing no bank failures in 2018, only 4 banks were closed in 2019.  They are:


The Enloe State Bank, Cooper, Texas, closed on May 31, 2019


https://www.fdic.gov/news/news/press/2019/pr19046.html


Louisa Community Bank in Louisa, Kentucky, closed on October 25, 2019


https://www.fdic.gov/news/news/press/2019/pr19096.html


 Resolute Bank in Maumee, Ohio, closed on October 25, 2019  https://www.fdic.gov/news/news/press/2019/pr19097.html


 City National Bank of New Jersey, closed on November 1, 2019


https://www.fdic.gov/news/news/press/2019/pr19101.html


 


For Enloe State Bank, according to the FDIC, “As of March 31, 2019, The Enloe State Bank had total assets of $36.7 million and total deposits of $31.3 million, of which there were approximately $500,000 that exceeded FDIC insurance limits.”


You might expect the FDIC insurance would cover all the deposits.  Clearly, this is not the case.  Half million out of 31 million is not a negligible number.  This fact further underscores the importance of avoiding weak banks.



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