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Banks going under at record pace.

charlotte49er

By charlotte49er,
in Huddle Lounge

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charlotte49er Newbie

charlotte49er

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If you read the Charlotte Observer today there was a new Holoding company in Charlotte that bought 3 failed banks. (2 in Florida and 1 in SC)

A Charlotte bank holding company on Friday bought two failed banks in Florida and one in South Carolina.

The newly chartered banking subsidiary of North American Financial Holdings Inc., an investment vehicle led by former Bank of America Corp. executives, purchased MetroBank of Dade County, Miami; Turnberry Bank of Aventura, Fla.; and First National Bank of the South in Spartanburg.

3.85First National Bank of the SouthSpartanburgSC

2.71Turnberry BankAventuraFL

2.62Metro Bank of Dade CountyMiamiFL

Here's a list of North Carolina Banks that are on shaky ground. I have all 50 states is anyone is interested.

NC Banks:

3.13Pisgah Community BankAshevilleNC

2.52Blue Ridge Savings Bank, Inc.AshevilleNC

1.33Nantahala Bank & Trust CompanyFranklinNC

1.26Communityone Bank, National AssociationAsheboroNC

1.20Security Savings Bank, SSBSouthportNC

1.13The Bank of CurrituckMoyockNC

1.12The Bank of AshevilleAshevilleNC

1.12Cornerstone BankWilsonNC

1.09Bank of GraniteGranite FallsNC

0.98Waccamaw BankWhitevilleNC

The number on the left is the Texas ratio. It is determined by dividing the bank's non-performing assets by its tangible common equity and loan-loss reserves. Tangible common is equity capital less goodwill and intangibles. As the ratio approaches 1.0, the bank's risk of failure rises.

Of course investments are covered by the FDIC, but can be a hassle if the bank closes.

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charlotte49er Newbie

charlotte49er

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A lot of us are trying to pool some money together to buy Playboy. Maybe after that.

I'm in for at least $110,000 maybe even as high as $125,000, as long as I get to live in the mansion! :thumbsup:

Oh, BTW, they have to allow a pussy (cat) to live there as well!

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