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las vegas miami san diego los angeles bank failure real estate owned reo short sale foreclosure fdic regulator deep discount vulture hedge: Tonight's Keynote Speaker Joins Starwood Capital's Team - 03/23/10 09:16 AM
Jonathan M. Pertchik, the former chief restructuring officer for luxury condo developer WCI Communities which built several South Florida towers before seeking bankruptcy protection for a time, will have plenty to discuss as the keynote speaker at tonight's Condo Vultures® seminar.
Pertchik has just been named the chief operating officer for the newly created residential division of Starwood Capital, which last fall beat out several bidders for the $3 billion portfolio of the failed condo construction financier Corus Bank. Starwood Capital acquired the failed Chicago bank's portfolio in a complex deal that allows the Federal Deposit Insurance Corp. - the appointed receiver … (0 comments)
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las vegas miami san diego los angeles bank failure real estate owned reo short sale foreclosure fdic regulator deep discount vulture hedge: Las Vegas, Chicago Banks Latest To Fail - 02/28/09 11:32 AM
Regulators shut two more banks - one in Nevada and another in Illinois - on Friday, increasing the total number of failed institutions to 10 for the month of February and 16 for the year.Security Savings Bank in Greater Las Vegas with assets of $238 million and Heritage Community Bank outside of Chicago with assets of $233 million were seized by regulators on Feb. 27.Losses from these latest two failures are estimated to cost about $101 million, according to the Federal Deposit Insurance Corp., which was named receiver of both institutions.Bank failures in the first two months of 2009 are expected … (0 comments)
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las vegas miami san diego los angeles bank failure real estate owned reo short sale foreclosure fdic regulator deep discount vulture hedge: 4 More Banks Fail At Cost Of $341 Million - 02/14/09 05:39 PM
Regulators seized four banks with combined assets of $1.01 billion and deposits of $808 million in Florida, Illinois, Nebraska, and Oregon on Friday, Feb. 13, in moves that will generate estimated losses of $341 million for the Federal Deposit Insurance Corp.This latest round of bank failures is comprised of Florida's Riverside Bank of the Gulf Coast with assets of $539 million and deposits of $424 million; Illinois' Corn Belt Bank and Trust Co. with assets of $272 million and deposits of $234 million; Oregon's Pinnacle Bank with assets of $73 million and deposits of $64 million; and Nebraska's Sherman County Bank … (0 comments)
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las vegas miami san diego los angeles bank failure real estate owned reo short sale foreclosure fdic regulator deep discount vulture hedge: Failures Keep Coming As Regulators Shut 2 More Banks - 11/18/08 08:56 AM
As the U.S. financial crisis deepens, regulators have seized two more financial institutions with combined assets of $6.2 billion and deposits of $4.2 billion, pushing the total number of bank failures this year to 19.Franklin Bank, a Houston-based institution established in 1987 with assets of $5.6 billion, and Security Pacific Bank, a Los Angeles-based institution created in 1981 with assets of $588 million, were seized by regulators on Nov. 7. The Federal Deposit Insurance Corp, which insures deposits up to $250,000, was named receiver of both failed institutions.The two most recent failures are estimated to cost the FDIC's insurance fund between … (0 comments)
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las vegas miami san diego los angeles bank failure real estate owned reo short sale foreclosure fdic regulator deep discount vulture hedge: Regulators Shut 9 Banks In 3rd Quarter At Cost Of $6 Billion - 09/30/08 12:24 PM
Regulators shut down an average of one bank about every 10 calendar days in the third quarter of this year, adding up to nine failed institutions in a 92 day span from July through September.The nine failed institutions had assets of $347 billion and deposits of $214 billion at the time of closing. The Federal Deposit Insurance Corp, which protects individual deposits up to $100,000 per account, estimates the third quarter bank failures will cost between $6 billion and $10 billion.Washington Mutual, a $310 billion in assets institution based in Henderson, Nev., was the last bank to fail in the third … (0 comments)
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las vegas miami san diego los angeles bank failure real estate owned reo short sale foreclosure fdic regulator deep discount vulture hedge: Las Vegas Bank Shuttered By Regulators - 09/09/08 06:29 PM
A Las Vegas-based bank with $2 billion in assets has been shut down by banking regulators, marking the 11th U.S. institution to fail in 2008 and the seventh since July 11.Silver State Bank in the Las Vegas suburb of Henderson was seized on Sept. 5 by the Nevada Financial Institutions Division, and immediately placed in the control of the receiver, the Federal Deposit Insurance Corp.The FDIC estimates the failure of Silver State Bank will cost the insurance fund between $450 million and $550 million.The deteriorating real estate market of the United States is prompting federal regulators to step in to shore … (1 comments)
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