The number of bank closures continues to climb. After, a weekend, free from bank closures, the announcement was made yesterday, that the FDIC had taken over the 12th bank this year.
According to a statement from the FDIC, the assets of Ameribanks Ohio offices have been transferred to Citizens Savings Bank, and Ameribank's three Ohio branches will reopen Saturday as Citizens Savings Bank branches. While, the banks offices in West Virginia have been transferred to Pioneer Community Bank, and Ameribank's five West Virginia branches will reopen Monday as Pioneer branches.
As of June 30, Ameribank had $115 million in total assets and total deposits of $102 million, according to the FDIC.
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go ahead share your thoughts with me now.
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Hi! I still check your blog every few days. Not really affected by all this bank stuff.
ReplyDeleteI just know that we need to keep some cash at home in case the banks close for a day or week, to straighten everything out. The cash will buy gas or grocies, etc. This advice is actually for all of us for anytime. You never know when an emergency might hit (hurricane, bank closing, etc.) that we will need cash.
Also a good time to make an emergency kit we can grab if we need to leave in a hurry. In it should be: meds you might be taking, all documents (copies of birth certificates, social security cards, deeds, insurance papers, bank account numbers, doctors numbers-put ALL papers in plastic ziploc bags), and phone numbers of important people, clothes for a few days, water-a few gallons, flashlight, batteries, radio, rain poncho, blanket, change for pay phone, non pershiable food with can opener, and anything else you may need (diapers &/or sanitary supplies a must for babies and / or women.)
Also keep at least half a tank of gas in your car at all times.
Well, this is what all this bank stuff has me thinking of. -Becky in NJ
I hope US bank doesn't go under. I don't want to see the sign change overnight to BOA or Citizens bank.
ReplyDeleteHi Sean,
ReplyDeleteIt won't be BoA, because of regulatory issues, and Citizens Bank, is to small to buy a Nationwide company. If, and it's a big if, US Bank were to go under, it's suitor would more likely be a Wells Fargo or Citi Bank.
Then again, more likely well be the bank could be split up, with Kansas branches being taken over by a local bank, Missouri branches assumed by a Missouri bank and so forth.
Such a huge bank failing, wouldn't be as easy as finding one bank assuming the entire company.