Among the latest banks to receive approval for government funds are:

Capital One - $3.55 billion
SunTrust Banks - $3.5 billion
Regions Financial Corp. - $3.5 billion
Fifth Third Bancorp - $3.4 billion
BB&T Corp. - $3.1 billion
KeyCorp - $2.5 billion
Comerica Inc. - $2.25 billion
Northern Trust Corp. - $1.5 billion
Huntington Bancshares Inc. - $1.4 billion
First Horizon National Corp. - $866 million
City National Corp. - $395 million
Valley National Bancorp - $330 million
UCBH Holdings Inc. - $298 million
Washington Federal Inc. - $200 million
First Niagara Financial Group Inc. - $186 million

Some of the banks are not failing, just propping up capital reserves.  A couple intend to use the funds to purchase "ailing banks".  A couple are a bit shaky.  If your bank is on this list, it's actually a good thing.  The Feds have declined a few banks borrowing needs and those will most likely be on a short list which is not a good thing.

Lending money to banks to buy out smaller troubled banks may be a good idea.  Saves the FDIC reserves and earns a little bit of interest for the Feds.  That point ought to be disclosed though but any negative news on failing banks regardless is always top secret.

 

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8 Comments on Is your bank on this list?

OCT
30
2008
241,237 Points Outside Blog

With all of this cash infusion, is it making cash itself "valueless"???     How much is being printed in order to do all thiis lending/buyout?     What's backing same?     What about inflation?

12:13pm • #1

Thanks for posting this list!  I appreciate the points you've made regarding it not necessarily being bad that a bank is on this list.

Ted

12:24pm • #2
OCT
31
2008

Good question Li! The cash will be valueless if inflation takes hold.  Inflation was really far and above what the official government figure is.  Taking out housing, energy and medical which is our 3 biggest costs is flat out lying.  We should be in a period of deflation for some time.

9:14am • #4

Your right Ted.  I read where some folks were worried about the banks on the list.  A couple of banks wish they were on it.

9:52am • #5

Good for your bank!  Sooner rather than later, the list will get way too big to post.

2:30pm • #7
NOV
14
2008

Thanks for all the great Information Rick! :) :) I always learn a lot from your blogs. They are very imformative. I appreciate your Knowledge! have a great day!

9:48pm • #8
NOV
18
2008

Thanks for stopping by Toni. Appreciate your comments!

3:55pm • #9

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Rick Fitzgerald -The MultiFamily Expert

Chattanooga, TN

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Multifamily investments and straight talk from a Senior Underwriter, Banker and Lender. Rick Fitzgerald and AAM Capital (www.themultifamilyexperts.com) covers multi family investments, banking news and commercial real estate. Find out what we can do for you by calling us today. Get the Mortgage and Loan Calculators widget and many other great free widgets at Widgetbox!

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