01 August 2025

It's Bank Failure Friday!!

Damn!  I was not paying attention, and missed some bank failures: 

Here are the commercial bank failures

  1. The Santa Anna National Bank, Santa Anna, TX on June 27.

This is rather unusual, as it was a Sunday closure, but it appears that the the closing might have been rushed due to, "Suspected Fraud."  It was a tiny bank, with just under $54 million in deposits, and about $2.8 million of that was in deposits of more than the $250 thousand insurance limit, so there were 5 or 6 "Whale" accounts among their depositors at most. (I leave my reader(s) to draw a conclusion)  

Here is the  Full FDIC list

Meanwhile, in credit union land, I missed 4 failures: 

Here are the credit union failures

  1. Unilever Federal Credit Union, Engelwood Cliffs, NJ on March 30
  2. Soul Community Federal Credit Union, Austell, GA on June 20
  3. Aldersgate Federal Credit Union, Marion, IL on June 18
  4. Butler Heritage Federal Credit Union, Middletown, OH on June 30 

These all seem to be ordinary failures of small credit unions, except for the 6 month old Soul Community Federal Credit Union, which appears to have been chartered 6 months before its closure, and then it did nothing.  ¯\_(ツ)_/¯

Here is the Full NCUA list, and the direct link for this year.

0 comments :

Post a Comment