patrick.net

zzyzzx says

https://www.cnbc.com/2024/02/29/shares-of-nycb-fall-more-than-10percent-after-bank-discloses-internal-controls-issue-ceo-change.html

Shares of NYCB fall more than 20% after bank discloses ‘internal controls’ issue, CEO change

Deja vu all over again ...the next Silicon Valley Bank now is New York Community Bank

how more insolvent or distressed regional banks are out there ?

Maybe when the Fed Funds rate gets lowered from 5.5% to 4.5% when the 6 month simple moving average for PCE is below 3% then the regional banks with long term Treasuries as assets will not be in as much distressed conditions.

.

Philadelphia Bank just failed.

https://fortune.com/2024/04/26/philadelphia-bank-implodes-failure/

Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York.

The Federal Deposit Insurance Corp. said Friday it had seized the Philadelphia-based bank, which did business as Republic Bank and had roughly $6 billion in assets and $4 billion in deposits as of Jan. 31.

Fulton Bank, which is based in Lancaster, Pennsylvania, agreed to assume substantially all of the failed bank’s deposits and buy essentially all of its assets, the agency said.

Republic Bank’s 32 branches will reopen as branches of Fulton Bank as early as Saturday. Republic First Bank depositors can access their funds via checks or ATMs as early as Friday night, the FDIC said.

The bank’s failure is expected to cost the deposit insurance fund $667 million.

Local credit union where I live has been taken over. Was already under restrictions about how much debt they could have due to failed audit(?) or similar by Feds a few years back. Before I chose a new local(semi-local) bank, took a look at their financials. This one hired some VP who didn't know lending regulations from his ass, so stayed away.

NuttBoxer says

Local credit union where I live has been taken over. Was already under restrictions about how much debt they could have due to failed audit(?) or similar by Feds a few years back. Before I chose a new local(semi-local) bank, took a look at their financials. This one hired some VP who didn't know lending regulations from his ass, so stayed away.

What do.you mean by 'taken over'?

Did another credit union buy it?

https://rudy.substack.com/p/all-roads-lead-to-inflation