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  #1  
Old 05-01-2009, 07:29 PM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is offline
 
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Location: Springtown, AmeRica
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Default A Banker's Bank Goes Down

http://www.fdic.gov/bank/individual/...silverton.html

Quote:
A conference call is scheduled for Saturday, May 2, 2009, at 3:00pm EST. The affected customers have been notified of the number to call.
There will be an emergency meeting. This bank lends to banks and not the public...big domino. The FDIC will create a Bridge Bank to tide it over until the end of July.

Quote:
Silverton failed due to significant loan losses which eroded its capital position and reduced its ability to maintain adequate liquidity. Problem assets centered in Acquisition, Development, and Construction loans and non-owner occupied Consumer Real Estate loans. Silverton’s efforts to raise capital were unsuccessful.
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Old 05-01-2009, 07:48 PM
Austin Austin is offline
 
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Default

I heard a pundit talking head tonight say that commercial defaults due to non payment of rent will skyrocket in the next three months and that the Party Chairman Obama forgot to factor that in when they predicted a recovery beginning in September.
  #3  
Old 05-01-2009, 09:17 PM
moh malekpour moh malekpour is offline
 
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Location: Southern California
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I thought Federal Reserve Bank was down as it is the Banker's Bank and the lender of the last resort. I didn't know Silverton was the bankers bank.
  #4  
Old 05-03-2009, 11:36 PM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is offline
 
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There are lots of banker's banks - two of the best

http://www.stephens.com/
Biggest off wall Street

Llama Group - Alice Walton's investment bank
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  #5  
Old 05-06-2009, 10:49 AM
murray stroupe murray stroupe is offline
 
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Location: west tennessee
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Cool Re; Silverton

Quote:
Originally Posted by Terrel L. Shields View Post
http://www.fdic.gov/bank/individual/...silverton.html



There will be an emergency meeting. This bank lends to banks and not the public...big domino. The FDIC will create a Bridge Bank to tide it over until the end of July.
=====================
Wonder what the real reason was, Terrel?
Probably not conservative enough in reserves??

Silverton should have lived its name;
probably didn't have much natural resources, despite its name.

Last edited by murray stroupe : 05-06-2009 at 10:51 AM. Reason: Re correction
  #6  
Old 05-06-2009, 09:46 PM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is offline
 
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Default

All I know is what the FDIC press release said
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