Featured Story
Earlier in the year Silicon Valley Bank failed March 10 and then Signature Bank failed two days later, ending the unusual streak of more than 800 days without a bank failure.
Before Citizens Bank failed Friday, Heartland Tri-State Bank failed July 28 and First Republic Bank failed May 1.
U.S. bank failures
Longest periods between U.S. bank failures since 1933
Previous bank failure | Bank failure | Days since previous bank failure |
---|---|---|
June 25, 2004 | Feb. 2, 2007 | 951 |
Oct. 23, 2020 | March 10, 2023 | 867 |
Jan. 13, 1945 | Sept. 14, 1946 | 608 |
Dec. 15, 2017 | May 31, 2019 | 531 |
Aug. 16, 1996 | Nov. 21, 1997 | 461 |
Feb. 19, 1962 | May 24, 1963 | 458 |
May 26, 1953 | Aug. 9, 1954 | 439 |
Source: FDIC
Generally, a failure occurs when a bank becomes insolvent, meaning it lacks the funds to cover all of its customers’ deposits and the money it owes to others, according to the FDIC.
Bank failures aren’t uncommon; a few typically happen each year. So it’s rare for there to be years like 2022, 2021, 2018, 2006 or 2005, when there were no banks closed.
Before March 2023, only three banks had failed since the coronavirus pandemic started. And all three (The First State Bank, First City Bank of Florida and Almena State Bank) experienced previous financial problems, according to the FDIC. (There was one bank failure in 2020 before the pandemic started.)
Bank failures happen from time to time, which is why it’s important to have your money at an FDIC bank and make sure you’re within FDIC insurance limits and guidelines. No depositor has lost a penny of FDIC-insured funds since 1933.
As soon as a bank fails, the FDIC estimates how much that bank failure will cost the Deposit Insurance Fund (DIF). Quarterly assessments on FDIC-insured banks fund most of the DIF, according to the FDIC.
Source: Federal Deposit Insurance Corp.
2023 list of failed banks
Failed banks | Date closed |
---|---|
Citizens Bank, Sac City, Iowa | 11/03/2023 |
Heartland Tri-State Bank, Elkhart, Kansas | 07/28/2023 |
First Republic Bank, San Francisco | 05/01/2023 |
Signature Bank, New York | 03/12/2023 |
Silicon Valley Bank, Santa Clara, Calif. | 03/10/2023 |
2020 list of failed banks
Failed banks | Date closed |
---|---|
Almena State Bank, Almena, Kan. | 10/23/2020 |
First City Bank of Florida, Fort Walton Beach, Fla. | 10/16/2020 |
The First State Bank, Barboursville, W.Va. | 04/03/2020 |
Ericson State Bank, Ericson, Neb. | 02/14/2020 |
2019 list of failed banks
Failed banks | Date closed |
---|---|
City National Bank of New Jersey, Newark | 11/1/2019 |
Resolute Bank, Maumee, Ohio | 10/25/2019 |
Louisa Community Bank, Louisa, Ky. | 10/25/2019 |
The Enloe State Bank, Cooper, Texas | 05/31/2019 |
By SRH, HNewsWire Reporting: Embattled regional bank New York Community Bancorp received another blow Tuesday evening when Moody’s Investors Service lowered its credit rating to junk status. Moody’s downgraded New York Community Bancorp due to “challenges” stemming from the lender’s unexpected loss in the commercial real estate market. The downgrade reduced the bank’s credit rating by two notches from its prior level, indicating a significant lack of faith in the bank’s capacity to repay its debt holders. “NYCB’s core historical commercial real estate lending and significant and unanticipated loss on its New York office and multifamily property could create potential confidence sensitivity,” according to the assessment released by Moody’s Investors Service. Following the downgrading, New York Community Bancorp shares fell 17% in after-hours trading on Tuesday evening. This loss comes on top of a 22% selloff in regular trading. Credit…Read More
Give the gift of great skin care. Our Soap and Shave Bars are gentle and produce a smooth creamy lather that is nourishing to your skin. They are handmade in small batches. We use only high-quality natural ingredients that you can pronounce. No chemicals, no sodium laurel sulfate, no phthalates, no parabens, no detergents. The set can include Soap Bar, Shave Bar, Shave Brush, and/or Shampoo Bar. These come in a white box and are perfect for your gift giving needs.
Our soaps are made with skin loving ingredients including olive oil, coconut oil, lard, sweet almond oil, shea butter, and castor oil. We do not use palm oil. Scented only lightly with fragrance oils.
The Shave bars give a very close and smooth shave with no razor burn. They leave your skin feeling amazing. A lather can be built up in your hands and then applied to your face, but it is best to use a shaving brush. These bars will only produce a thick foam when used with a shaving brush.
Our Shampoo Bars have a thick lather. A lather can be built up in your hands and then applied to your hair, but it is best to rub the bar gently in your hair. Rinse and repeat.
You choose a scent:
A Thousand Dreams is a whimsical blue scented in a warm mix of fruity and floral notes with peach, peony, lily, musk, sandalwood, and amber.
Bay Rum Spice is a nice masculine scent similar to Old Spice. The scent notes are clove, pine needles, cedarwood, orange, vanilla, and musk.
Birch Woods is a great outdoors-type scent. The notes are bergamot, patchouli, vetiver, and tonka bean.
Cool Clear Water is a refreshing scent. The notes are crisp water, oakmoss, pine, cedar, and musk.
Lavender Champagne has a wonderful scent of Lavender and Champagne and has a light purple color. The scent notes are lavender, sparkling Champagne, grapefruit, orange, thyme, oak, and amber.
Midnight Waters is a moody-mystical scent that opens with fruity notes of red berries, juicy tangerine, and bergamot. Then unfolds into bubbly Champagne, violet flowers, cashmere, amber, and musk.
Raspberry Vanilla is an all-time favorite fragrance for soap. It is a beautiful magenta color. The scent notes are raspberry, strawberry, lemon, coconut, peach, honeysuckle, plum, and vanilla.
Warm Sandalwood is a warm, rich, and woodsy scent. The colors are warm and rich with brown, gold, and white.
A Soap bar will weigh approximately 4 ounces and be approximately 2.25 inches wide by 3.5 inches tall and 1 inch thick. A Shave bar will weigh approximately 3 ounces and be approximately 2.5 inches across and 1.25 inches thick. A Shampoo Bar will weigh approximately 3.5 ounces and be approximately 2.5 inches across and 1.25 inches thick. Please keep in mind that our products are handmade and hand cut. Each bar is unique and might vary slightly in shape, size, design, and color from those pictured.
Please keep your Soap Bars, Shave Bars, and Shampoo Bars well-drained and allow to dry between uses. This will ensure longer lasting bars. Go To Store
Don't Miss
Markets Are Subject to a Giant Con Game, the Game of Confidence
If the Christian wants to know God’s will, he turns to the Bible. If the Christian wants to discern right from wrong, he turns to…
Read More
RPT-How to say the ‘R-word’: bank executives grapple with recession talk
Faith and fear cannot exist together. Faith is described in Hebrews 11:1 as being “certain of what we do not see.” It is an absolute belief that…
Read More
Deutsche Falls To New Record Low Showing ‘Lehman Shock’ Contagion Risk
Are we living in the end times? No one knows when Jesus will return, but the rapture could occur at any moment. God will deal…
Read More
US Futures Surge, Global Markets Rise Amid Lull In Bad News
Second Corinthians 9:6 says, “Remember this: whoever sows sparingly will reap sparingly, and whoever sows generously will reap generously.” The context is actually speaking about investing…
Read More
Nomura: Yesterday Was A Complete Rout, Raising Odds Of September “Lehman Shock”
When a society ignores the law, lawlessness is the result, and chaos ensues. The time of the judges after Joshua’s death was marked by upheaval,…
Read More