Monday, July 23, 2012

2012 Failed Banks List

List of FDIC Bank Failures for 2012
Bank Name
Links to Details
Closing Date
Heartland Bank July 20, 2012
Second Federal Savings and Loan Association of Chicago July 20, 2012
The Royal Palm Bank of Florida July 20, 2012
First Cherokee State Bank July 20, 2012
Georgia Trust Bank July 20, 2012
Glasgow Savings Bank July 13, 2012
Montgomery Bank & Trust July 6, 2012
Putnam State Bank June 15, 2012
Security Exchange Bank June 15, 2012
The Farmers Bank of Lynchburg June 15, 2012
Farmers' and Traders' State Bank June 8, 2012
Waccamaw Bank June 8, 2012
First Capital Bank June 8, 2012
Carolina Federal Savings Bank June 8, 2012
Alabama Trust Bank, National Association May 18, 2012
Security Bank, National Association May 4, 2012
HarVest Bank of Maryland April 27, 2012
Palm Desert National Bank April 27, 2012
Bank of the Eastern Shore April 27, 2012
Inter Savings Bank, fsb D/B/A InterBank, fsb April 27, 2012
Plantation Federal Bank April 27, 2012
Fort Lee Federal Savings Bank, FSB April 20, 2012
Fidelity Bank March 30, 2012
Covenant Bank & Trust March 23, 2012
Premier Bank March 23, 2012
New City Bank March 9, 2012
Global Commerce Bank March 2, 2012
Home Savings of America February 24, 2012
Central Bank of Georgia February 24, 2012
SCB Bank February 10, 2012
Charter National Bank and Trust February 10, 2012
BankEast January 27, 2012
Tennessee Commerce Bank January 27, 2012
Patriot Bank Minnesota January 27, 2012
First Guaranty Bank and Trust Company of Jacksonville January 27, 2012
The First State Bank January 20, 2012
Central Florida State Bank January 20, 2012
American Eagle Savings Bank January 20, 2012

For a more complete list with links to the announcement for each bank, see

Regulators Close Five More Banks

AP reported today regulators closed five more banks to bring the total to 38 closures in 2012.
"The failure of Georgia Trust Bank is expected to cost the deposit insurance fund $20.9 million; the failure of First Cherokee State Bank is expected to cost $36.9 million; that of Royal Palm Bank of Florida, $13.5 million; Heartland Bank, $3.1 million; and Second Federal, $76.9 million."
List of banks closed by the Federal Deposit Insurance Corp. (FDIC) on Friday July 20, 2012:
  1. Georgia Trust Bank, based in Buford, Ga.
    $119.8 million in assets and $117.4 million in deposits
  2. First Cherokee State Bank, based in Woodstock, Ga.
    $222.7 million in assets and $193.3 million in deposits
  3. Royal Palm Bank of Florida, based in Naples, Fla.
    $87 million in assets and $85.1 million in deposits.
  4. Heartland Bank in Leawood, Kan.
    $110 million in assets and $102.6 million in deposits
  5. Second Federal Savings and Loan Association of Chicago
    $199.1 million in assets and $175.9 million in deposits.

"Atlanta-based Community & Southern Bank agreed to assume the deposits of the Georgia banks and to buy all the assets of First Cherokee State Bank. Community & Southern also is buying about $111.5 million of Georgia Trust Bank's assets.

First National Bank of the Gulf Coast, also based in Naples, agreed to assume all the deposits and essentially all the assets of Royal Palm Bank of Florida.

Metcalf Bank, based in Lees Summit, Mo., agreed to buy the assets and deposits of Heartland Bank.

Hinsdale Bank & Trust Co., based in Hinsdale, Ill., agreed to assume the deposits of Second Federal Savings and Loan Association of Chicago. Hinsdale Bank also is buying about $14.2 million of the bank's assets, comprised mainly of cash. All of Second Federal's loans, including consumer loans and mortgages, will be retained by the FDIC for later sale.

In addition, the FDIC and Community & Southern Bank agreed to share losses on $65.9 million of Georgia Trust Bank's loans and other assets, and on $141.8 million of First Cherokee State Bank's assets.
The agency and Metcalf Bank agreed to share losses on $54.3 million of Heartland Bank's assets."

For more information, see the full FDIC List of Failed Banks.

Tuesday, July 3, 2012

SchoolsFirst Federal Credit Union CD Rates

Current CD rates and terms at SchoolsFirst Credit Union. You can often get higher than advertised rates at your local branch if you do your homework. Print out our "Highest CD Rate Survey" and bring it in with you. Print out some of the advertisement of rates advertised on your bank's competing web sites so you have proof. 
==> SchoolsFirst CU Certificate Rates <==  as of 7/3/12


Term
$500 Minimum
Dividend Rate APY
30 Day 0.15% 0.15%
03 - 05 Month 0.25% 0.25%
06 - 11 Month 0.30% 0.30%
12 - 17 Month 0.35% 0.35%
18 - 23 Month 0.45% 0.45%
24 - 35 Month 0.55% 0.55%
36 - 47 Month 0.85% 0.85%
48 - 59 Month 1.04% 1.05%
60 Month 1.34% 1.35%

Term
$100,000 Minimum
Dividend Rate APY
30 Day 0.30% 0.30%
03 - 05 Month 0.40% 0.40%
06 - 11 Month 0.45% 0.45%
12 - 17 Month 0.50% 0.50%
18 - 23 Month 0.60% 0.60%
24 - 35 Month 0.70% 0.70%
36 - 47 Month 1.00% 1.00%
48 - 59 Month 1.19% 1.20%
60 Month 1.49% 1.50%


Top Rate Surveys:

Boeing Employees Credit Union CD Rates

Current CD rates and terms at Boeing Employees Credit Union. You can often get higher than advertised rates at your local branch if you do your homework. Print out our "Highest CD Rate Survey" and bring it in with you. Print out some of the advertisement of rates advertised on your bank's competing web sites so you have proof.  

==> Boeing Employees CU Certificate Rates <==  as of Nov 7/3/12

APY for
$500 - $49,999.99 $50,000 - $99,999.99 $100,000 +

12 - 17 Month CD 
0.45% 0.50% 0.50%

12 - 17 Month CD
0.20% 0.25% 0.25%

24 - 35 Month CD
0.80% 0.85% 0.85%

24 - 35 Month CD
0.55% 0.60% 0.60%



Top Rate Surveys:

State Employee Credit Union CD Rates

Current CD rates and terms at State Employee Credit Union. You can often get higher than advertised rates at your local branch if you do your homework. Print out our "Highest CD Rate Survey" and bring it in with you. Print out some of the advertisement of rates advertised on your bank's competing web sites so you have proof. 

==>   " State Employee Credit Union Certificates "   <==  as of 7/3/12
Account Type Opening Deposit Rate APY
6 Months - Fixed Rate $250.00 0.75%  0.75% 
12 Months - Fixed Rate $250.00 0.75%  0.75% 
18 Months - Fixed Rate $250.00 0.75%  0.75% 
24 Months - Fixed Rate $250.00 1.00%  1.00% 
30 Months - Fixed Rate $250.00 1.00%  1.00% 
36 Months - Fixed Rate $250.00 1.25%  1.25% 
48 Months - Fixed Rate $250.00 1.50%  1.50% 
60 Months - Fixed Rate $250.00 1.50%  1.50% 

Top Rate Surveys:

PenFedCD Rates Pentagon Federal Credit Union

The latest CD rates with NCUA insurance from PenFed: Pentagon Federal Credit Union.

You can often get higher than advertised rates at your local branch if you do your homework. Print out our "Highest CD Rate Survey" and bring it in with you. Print out some of the advertisement of rates advertised on your bank's competing web sites so you have proof.

==>"PenFed CU Money Market Certificates" <==   
as of  7/3/12 website
TermDividendAPY
6 Month0.400%0.40%**
1-Year0.90%0.90%
2-Year0.99%0.99%
3-Year1.24%1.25%
4-Year1.63%1.64%
5-Year1.88%1.90%
7-Year2.37%2.40%
Minimum investment is $1,000.