Lane Guide: FDIC seized bank list grows to 85 so far in 2011

October 25, 2011 (Reno, NV)  by Lane Guide Staff --  

Yet another round of Friday bank closures hits Main Street USA, with four more banking institutions seized for closure or sale by regulators.  This brings the number to 10 in October.  This expands the list of insolvent banks closed nationwide in 2011 to 85 institutions to date.

October's list includes:

• Community Banks of Colorado (Greenwood Village, CO)  October 25, 2011
• Community Capital Bank (Jonesboro, GA)    October 25, 2011
• Decatur First Bank (Decatur, GA)    October 25, 2011
• Old Harbor Bank (Clearwater, FL)    October 25, 2011
• Country Bank (Aledo, IL)    October 19, 2011
• First State Bank (Cranford, NJ)    October 20, 2011
• Blue Ridge Savings Bank, Inc. (Asheville, NC)    October 19, 2011
• Piedmont Community Bank (Gray, GA)    October 19, 2011
• Sun Security Bank (Ellington, MO)    October 7, 2011
• The RiverBank (Wyoming, MN)        October 7, 2011
  

Depositors are protected by FDIC deposit insurance and in many cases the branches are sold to other institutions in near seamless transition.  Loans are oftentimes acquired by the FDIC and serviced internally or sold at later dates.  In some transactions, the acquiring or purchasing bank will retain the loans from the failed institution.  More information on closed banks and depositor information, including account insurance information is available online from the FDIC.

Lane Guide maintains a complete archive of all bank and lender histories dating back over 100 years, so that title researchers, lenders and underwriters can at any future date find the current account servicer or successor to any closed, sold or failed institutions.  Additionally, this data is important to clearing title when one lender fails to discharge (or record a paid-in-full) recording on a mortgage trust deed.