This video looks SENSATIONAL---this means it likely has FAKE NEWS embedded into REAL news. So, the analysis done by these financial ACADEMICS leads to our same assessment----there is an approaching economic crash----boom goes bust coming and this how we suspect this to be true.
We will look at the 2008 economic crash stats pertaining to BANK FAILURES handled by FDIC and watch how HISTORY REPEATS ITSELF and who are those dastardly global banking 5% freemason/Greek players allowed to be SMALL TIME WINNERS while the big time global banking 1% takes ALL OUR SOVEREIGN US ASSETS.
YES, another economic crash/recession will move OBAMA-ERA $20 trillion in national debt to $206 trillion whatever estimates. Our US Federal and state treasuries and funds protected by those treasuries are about to get hit HARD again.
WHAT IS THE DIFFERENCE TODAY -----ONE DIFFERENCE IS OBAMA-ERA FINANCIALIZED OUR STANDARDIZED ALLOTMENT OF FDIC BAILOUT FUNDS FOR BANKRUPT BANKS.
'About this website
Bank Collapse In America! $206 Trillion Debt - Prepare For Economic Collapse 2020 Stock Market CRASH
The economic collapse is already here. It's already here; they're just not televising it. There are not telling you about it. If you look at central bankers,...'
The video tells us a bankrupt bank event is on its way and we will look at just a few for examples of how and where these OFTEN CORRUPT---NO ALWAYS-----BANKS ARE BROUGHT DOWN as we see below. Again, our smaller rural banks which find the into these failures are often led their by people placed as leaders to do these FRAUDS AND CRIMINAL ACTS against BANK CONSUMERS.
ENLOE of Texas is one------we see the criminal charges---we see the names of bank officers and FDIC officers involved in resolving what was known in 2017 ------would happen in 2019. In 2017 bank assets were $100 million stronger---ergo, in 2 years this bank diverted that $100 million to people involved in these crimes. Meanwhile, the 99% of citizens with various checking and saving amounts---are more susceptible to BEING LEFT OUT OF FDIC ------BAILOUT.
'All four banks that failed in 2019 were small, and one of them, the Enloe State Bank, with a single branch near Dallas, collapsed as a result of what Texas banking authorities said was "insider abuse and fraud by former officers."'
One common thread we have shouted for a few decades is this association with TRINITY CHURCH----tied to TRINITY COLLEGE-----were what we call FAKE RELIGIOUS people are often groomed. This ENLOE BANK failure was overseen by FDIC official named
'A white-haired FDIC contractor named George Bozzuti'
'Trinity Church An Episcopal Parish ?>
Faith · Integrity · Inclusiveness · Compassion · Social Justice · Stewardship'
Above is TONY BOZZUTI-----the religious leader of TRINITY CHURCH.
'Previously, Tony was CIO of the Commercial Banking Division at JPMorgan Chase (through its acquisition of Washington Mutual), as well as Vice President of Corporate Technology at GE Capital Insurance. In addition, he worked at Signet Bank in Virginia as the Vice President and Manager of Financial Management Information Services'.
HW BUSH and family of TEXAS made billions in these SAVING AND LOANS-----BANK FAILURES.......
Dearth of bank failures may be a red flag
Published: Jan 5, 2020 3:59 p.m. ET
AndrewAckermanWASHINGTON -- Times are good for U.S. banks.
The industry is highly profitable, lending is up and the number of problem institutions -- those found to have deficiencies in their businesses -- is the lowest since early 2007, according to the Federal Deposit Insurance Corp.
Unusually, not a single bank failed in 2018, and just four small lenders have gone under since the end of May 2019. Yet some bank analysts and former regulators say the very paucity of failures may be a sign that hidden risks are building.
"It's in the good times, when things seem very calm and when there are no bank failures, that the bad loans are made," former FDIC Vice Chairman Thomas Hoenig said in a recent interview.
Apart from 2018, the only years on record with no failures were 2005 and 2006, when home prices soared and banks feasted on subprime mortgage debt in the run-up to the financial crisis.
Regulators say the current calm is a sign of strength in the economy, which is in its 11th year of expansion. Even banks that do run into trouble can easily raise fresh capital or find a merger partner.
All four banks that failed in 2019 were small, and one of them, the Enloe State Bank, with a single branch near Dallas, collapsed as a result of what Texas banking authorities said was "insider abuse and fraud by former officers."
Failures "have been small in number and nothing that gives us concern that there is a systemic problem," said FDIC Chairman Jelena McWilliams in November. Some of the failures would have occurred sooner in a weaker economy, she said.
In a country with some 5,000 banks, ranging from tiny, one-branch operations to behemoths like JPMorgan Chase & Co. and Bank of America Corp., a handful can be expected to go bust each year. Failures averaged about seven a year during the 1970s and from 1994 to 2004, periods that didn't witness major banking crises, according to FDIC data.
"The mark of a healthy industry is one in which some banks are trying new things and failing," said Aaron Klein, a fellow at the Brookings Institution who served in the Treasury Department during the Obama administration. "When herd behavior becomes pervasive throughout the system, risks brew or bubble up."
A prolonged period of low interest rates has encouraged businesses and consumers to take on more debt, which may be hard to repay if the economy sours. Banks, meanwhile, may be tempted to loosen lending standards.
Officials at the Federal Reserve say overall risks in the financial system are moderate, but they are keeping a close watch on debt among nonfinancial firms, which is close to a record high relative to gross domestic product. What is more, that debt is rising fastest among riskier companies with lower credit ratings.
"A highly leveraged business sector could amplify any economic downturn as companies are forced to lay off workers and cut back on investments," Fed Chairman Jerome Powell said in a May speech. "Investors, financial institutions and regulators need to focus on this risk today, while times are good."
Household debt, at $15.8 trillion, is similar to precrisis levels as a proportion of GDP and has been growing fastest among higher-rated borrowers. But some segments are showing signs of froth: Auto debt has soared by about 56% in the past decade, according to Fed data. Among people who traded in cars to buy new ones in the first nine months of 2019, 33% owed more than the car was worth.
To be sure, banks have thicker capital buffers and are supervised more tightly than before the crisis. "You don't go through a crisis like we did without learning lessons," said Preston Kennedy, chairman of the Independent Community Bankers of America and president and chief executive of Zachary Bancshares Inc. in Zachary, La.
Still, a trend toward easing postcrisis rules for the financial industry has some former regulators worried that risks could be overlooked. Smaller firms are now allowed to file shorter financial reports with regulators, are examined less often and are exempt from some capital rules if they maintain a relatively high ratio of equity to assets.
"The momentum is going in the direction of softening rules, generally," said Sheila Bair, who headed the FDIC from 2006 and 2011, when more than 400 banks failed. "It's the wrong mind-set."
Below we see that one example in Texas where the coming current bank failings are funneling yet again tens---hundreds of millions away from our US rural small town to SHELL CORPORATIONS like ENTEX BANCSHARES-----which had the ENROE BANK manager as employee. The 27 million in FDIC bailout was funneled to this SHELL CORORATION -----FRAUD against our US Federal agency. Meanwhile FDIC agents are looking DOWN this line to ANITA MOODY.
Office of the Inspector General cites $27.6M assets lost as reason to continue investigation of Enloe State Bank failure
- By Kim Cox email@example.com
- Oct 8, 2019
Anita Moody'Active Cooper, TX -- Director for Entex Bancshares, Inc.
Business Summary Entex Bancshares, Inc. is a bank holding company located in Texas. It operates through its subsidiary, Enloe State Bank. The financial information reported herein reflects the financial condition and results of operations of the holding company only and does not include the results of its bank subsidiary'.
ANITA MOODY happened to be in place the decade before this long-time local bank went BANKRUPT. ANITA MOODY working for a SHELL CORPORATION likely tied to the global investment corporation MOODY'S.
Moody National Bank
From Wikipedia, the free encyclopedia
Moody National Bank
FoundedSeptember 30, 1907
FounderWilliam Lewis Moody, Jr.
Number of locations16 branches
Area servedSoutheast Texas, Central Texas
Key peopleRobert L. Moody, Chairman Emeritus
Victor Pierson, Chairman, President & CEO
Craig Barker, Executive Vice President
Operating income11.382 million USD
Net income11.397 million USD
Total assets$1.32 billion USD (September 30, 2018)
Total equity$148.2M USD
OwnerMoody Bancshares, Inc.
Number of employees210
WebsiteMoodyBank.comMoody National Bank (MNB) is a nationally chartered bank, founded in 1907, that is based in Galveston, Texas.
With assets of nearly $1 billion, Moody Bank is one of the oldest and largest privately owned Texas-based banks. Its trust department, established in 1927, administers over $26 billion in assets, and is the largest domiciled in the state of Texas. The company offers a full range of commercial and consumer banking products, as well as trust and investment banking services to customers throughout Southeast Texas and Central Texas, including the Greater Houston area.'
'The next year, just before the Great Depression, Enloe State Bank opened in the town of Enloe, five miles northeast of Cooper. It was a fixture in Delta County for 91 years'.
So, where did that $27 million of fraud disappear-----well FDIC would find it up the ladder with MOODY'S and ENTEX BANCSHARES.
FDIC will shell out the Federal money---say ANITA MOODY is a bad girl-----but those at the top walk away with the FDIC ---INSURED CRIMINAL FRAUD.
Fire and fraud: The mystery of a small Texas bank that became the nation's first failure in years
The May 11 fire at Enloe State Bank set off a chain of events unlike anything the town’s 2,000 residents had ever seen.
A motorcyclist passes by a signature landmark of Cooper, Texas, on Thursday, July 11, 2019.
The Texas Department of Banking closed the town's Enloe State Bank in late May, citing "insider abuse and fraud by former officers.
"By Orla McCaffrey
2:33 PM on Jul 20, 2019
COOPER, Texas — Teresa Thompson was less than two hours into her shift at the Dairy Queen when it happened.
The 58-year-old cook, hair slung into a long, blonde ponytail, had just returned from a smoke break when an employee of the Enloe State Bank next door rushed into the restaurant.
“The bank is on fire,” Brenda Miller, who cleans the bank with her husband, told Thompson. “Call 911.”
Thompson found her glittery purple iPhone and dialed. When the call wouldn’t go through, she resorted to Dairy Queen’s landline.
“The Enloe State Bank is on fire,” she told an emergency dispatcher.
The May 11 fire at Enloe State Bank set off a chain of events unlike anything the town's 2,000 residents had ever seen. Before the month ended, the Texas Department of Banking had closed the bank, citing "insider abuse and fraud by former officers."
It was the nation’s first bank failure in 17 months, and the first in Texas since 2013.
Federal investigators and loan experts swarmed the agricultural community about 80 miles northeast of Dallas. Within days, at least a dozen residents received letters telling them they had loans at the bank — shocking some who said they knew nothing about the debts.
“It hurt a lot of people here,” said Noel Bailey, the bank’s president more than 30 years ago. "You just see people’s faces, and it’s like, what’s going to happen now?”
The Federal Deposit Insurance Corporation, the Depression-era government agency set up to protect people who put their money in banks, estimates it’ll have to cover $27 million of the bank’s $36.7 million in assets.
That doesn’t include 10 bank customers with deposits over the FDIC’s insured limit of $250,000. About $500,000 total exceeded the cap, the agency said.
Federal agencies are investigating what led to the collapse, though local law enforcement authorities said no arrests have been made.
Former bank president Anita Moody declined to be interviewed about the bank’s failure. Moody, 56, had worked at the bank since she was a teenager and held the top job for more than 10 years.
An unexpected delivery
Pat Ainsworth discovered her letter bearing an FDIC seal after running errands in town on the first Saturday in June. Enloe State Bank was closed for good the previous day.
She’d heard rumors of people getting them, but thought she’d been spared.
“I drove in and there was a letter,” Ainsworth, 78, said. “I called my daughter and said, ‘We spoke too soon.’ ”
The letter was addressed to her late husband, Marion Ainsworth, who died of cancer almost five years ago. He was 74.
Two days later, Ainsworth drove to the bank with her daughter, Tricia Chalaire. A line of people snaked around the lobby. At least three FDIC representatives were there.
A white-haired FDIC contractor named George Bozzuti greeted the couple and led them into a private office. The carpet was partially pulled up, Ainsworth remembered, and the stench from the fire still lingered in it.
She recounted her conversation with Bozzuti, a seasoned loan review and fraud investigator. He’s helped manage the FDIC’s handling of failed-bank assets in the last 10 years.
“This is a fraudulent loan,” Buzzoti told them.
“How do you know?” Ainsworth asked.
“Because there’s nothing with it,” he said, meaning supporting documents and accompanying signatures.
Some loans Bozzuti and his team had sorted through were in perfect shape, she recalled him telling her. All the necessary documents had been stored together in a vault.
“But the fraudulent loans were all in here,” Buzzoti told her, patting a computer.
Teresa Thompson, a cook at the Dairy Queen in Cooper, witnessed the fire at the neighboring Enloe State Bank.(Lynda M. Gonzalez / Staff Photographer)‘It really is on fire’On that Saturday evening in May, two Delta County deputy sheriffs arrived within minutes of Thompson’s call. They approached the bank’s back door and gazed at the escaping smoke.
Thompson slipped outside the Dairy Queen to snap a photo. She posted it to Facebook, writing “Oh my it really is on FIRE!!!”
Smoke errupts from the doors of the Enloe State Bank On May 11, 2019. (Courtesy of Teresa Thompson)Inside, papers burned on a conference room table. That’s where the blaze began, said Sheriff Ricky Smith. A lack of oxygen kept it from spreading to the rest of the building.
The state banking department had requested a set of financial records for a routine exam of the bank.
"Those items were piled on the board room table and set afire," Texas Department of Banking Commissioner Charles Cooper told a meeting of the state's finance commission in June, according to a recording of the meeting. "That was an indication something was wrong."
After the fire was put out, officers stayed through the night and into Mother’s Day. They called in the Bureau of Alcohol, Tobacco, Firearms and Explosives because the bank is federally insured. The FDIC’s Office of the Inspector General joined in later.
Deputies executed search warrants a few days later, though Sheriff Smith declined to provide details. The Dallas Morning News' request for the records was denied and referred to the attorney general's office for a decision.
Three days after the fire, state banking officials examined the bank. By May 31, it was out of business.
Cooper, the banking commissioner, called the timeline “very rapid.”
“We have a lot of gnashing of our teeth and a lot of evaluation to do before we enter into one of these,” he said in the recorded meeting. “I just wanted y’all to know it’s not something you just do — wake up one morning and close a bank.”
Washington Federal Bank for Savings in Chicago was the nation’s last bank failure, closing in December 2017 after widespread loan fraud was discovered.
Enloe State was the first Texas failure since 2013, when Texas Community Bank was shuttered in The Woodlands. The failure marks the first closure of a state-chartered bank since Plano’s First International Bank in 2011. Just 10 banks in the state have failed since the start of 2009.
Banks are closed when their assets, largely loans, are worth far less than their liabilities. If Enloe State Bank had sold all its assets, it still couldn’t have repaid its depositors.
The FDIC became the bank’s receiver, taking custody of its premises and records that’ll help the agency determine the real value of assets, including loans.
Legend Bank took over the bank’s insured deposits a few days after it closed. The Bowie-based bank bills itself as one of the largest cattle lenders in North Texas. It has 12 branches, from Wichita Falls to Fort Worth.
A new Legend Bank sign hangs over the former logo of the Enloe State Bank in Cooper, Texas, on Thursday, July 11, 2019. (Lynda M. Gonzalez / Staff Photographer)‘It’s like Mayberry’Cattle outnumber people in Delta County, 4-to-1. Agricultural roots run deep here, where cotton provided most of the county's income for decades.
In Cooper, families go back generations. Last names carry weight.
Locals Denise Spencer (left) and Bruce Aaron chat in evening light in Cooper, Texas, on Thursday, July 11, 2019. (Lynda M. Gonzalez/The Dallas Morning News)(Lynda M. Gonzalez / Staff Photographer)Before football games each fall, the Cooper High School Bulldogs’ bus drives through the town square. Most of the town is there to cheer them on.
“It doesn’t matter if you have a kid on the team or not,” said Brenda Stewart, a Century 21 agent who’s lived in Cooper for 30 years. “You still wave the bus by.”
It’s difficult to stay off anyone’s radar in the town.
“It’s like Mayberry,” Stewart said. “You walk into the hair salon and know all the ladies getting their hair teased.”
Locals enjoy lunch at the Dairy Queen in Cooper, Texas, on Thursday, July 11, 2019. (Lynda M. Gonzalez / Staff Photographer)Enloe State Bank wasn’t the first bank failure in the county. Two years before the Great Depression, The First National Bank closed.
Its doors stayed shut just two months. But Delta County’s economy was wounded. Many residents were in debt, with little access to loans. Falling cotton prices made the situation worse.
The next year, just before the Great Depression, Enloe State Bank opened in the town of Enloe, five miles northeast of Cooper. It was a fixture in Delta County for 91 years.
The bank built a Cooper branch in 1993 and closed its original location in 2008. Today, the empty building sits on the corner of a stretch of vacant storefronts.
The building that once housed the Enloe State Bank. Today, the empty building sits on the corner of a stretch of empty storefronts.(Orla McCaffrey / Staff)Much of the town’s economic activity made its way through the bank over the years, too. Kids starting their first savings account. Newlyweds securing a mortgage for a first home. Longtime residents saving for retirement.
CHARITABLE EVENTS BY GLOBAL BANKING 1% IS FAKE SOCIAL BENEFIT EVERY TIME.
Enloe State Bank had a reputation of charitable giving.
It joined forces with the county sheriff and a local lumber yard to donate 20 air conditioners in 2015. Each fall, it covered the cost of the school district’s fish fry. The bank funded organizations from the Cooper FFA to Texas Dream Center, an addiction rehab center for men.
Disbelief, then relief
The loan made out to Ainsworth’s late husband was for $127,000. It dated back to November 2017, three years after his death. A payment of $25,000 was made on it as recently as April, Bozzuti told her.
The last loan Marion Ainsworth signed at the bank was for a beige Chevrolet pickup, Pat Ainsworth said. But he paid it off long before he died.
“I guess that’s where they got all of his information,” Ainsworth said.
At first, Ainsworth couldn’t believe something like this had happened.
“And then it was relief when I didn’t owe $127,000,” she said.
Phantom loans like Ainsworth’s are covered by the $27 million shelled out by the FDIC. The money comes from its deposit insurance fund, created by fees on insured banks and investment income. In 2017, bank failures cost the fund $1.1 billion. That’s up from $47 million in 2016.
No banks failed in 2018, for the first time since before the Great Recession.
The agency will do whatever it can to recover the money it pays out. Bank officers, directors, appraisers and attorneys who might have contributed to the loss are subject to claims from the agency.
Investigators camp out in Cooper
The small town played host to two investigations: one by the FDIC and a criminal one by the FDIC's Office of the Inspector General and ATF. The inspector general gets involved when fraud or other financial crimes are suspected.
It's not clear how the agencies are investigating the Cooper case. But some practices are common to all bank failures, former FDIC staffers told The News.
In the early days of an investigation, all officers and personnel who might be involved are interviewed one-on-one. Investigators comb bank records for irregularities, and ask bank employees to explain them.
After the third day, the FDIC fires officers they believe jeopardized the bank, said Terry Rouch, a former receiver in charge at the FDIC who now works for the U.S. Department of Housing and Urban Development. Regulators often freeze bank accounts of those involved.
“They will literally go through every single file,” Rouch said.
Most of that sifting happened in an unlikely setting in Cooper.
Bailey’s last year as president of the bank was 1989. He was surprised, then, to get a call from the FDIC the day the bank was closed.
The man on the line wanted Bailey’s permission to use his church’s parking lot. The church, where Bailey is pastor, sits a few hundred feet from the bank. As many as 50 FDIC staffers were headed to Cooper, the man told him.
“We’re taking [the bank] over tomorrow,” he said.
“Well, that’s not good,” Bailey, 70, said.
Cooper is an agricultural community in Delta County.(Lynda M. Gonzalez / Staff Photographer)A few days later, the feds were on the phone again. The odor left over from the fire was making workers sick. They wanted to set up inside the church instead.
The congregation OK’d the move, and the FDIC insisted on paying $300 a day in rent. “That’s not the reason why we did it,” Bailey said.
Between wooden pews and hymn books, investigators sorted through years of loans. They set up desks and carried bank files across the blacktop. A state trooper guarded the locked front door.
On Wednesdays, the inspectors agreed to leave before 7 p.m. service. But they often appeared as soon as it ended, working into the night, Bailey said.
Investigators will also scrutinize what the bank's directors knew about the conditions that caused the failure. The board is tasked with overseeing bank operations and often doubles as a loan review committee.
A lack of separation between loan officers and the approval committee allowed loan fraud to thrive at Washington Federal Bank for Savings, according to a report from the U.S. Treasury Department's inspector general.
A new bank comes to town
Legend Bank beat out at least two other banks that wanted a shot at Enloe State’s customers. One of them was the only other bank in Delta County — First National, the one that failed in 1927.
Legend took on Enloe State’s insured deposits. But it steered clear of most of the failed bank’s assets. It scooped up roughly $5.2 million in assets, just a fraction of the $36.7 million the bank reported earlier this year.
The new bank likely took on liquid assets — cash, deposits at other banks and bonds in Enloe State’s name.
To regulators, Enloe State Bank was doing just fine. Bank filings and routine examinations through the years failed to uncover anomalies. Its focus was agricultural lending.
In the first three months of 2019, the bank reported more than $10 million in loans to finance farming, according to the website CompleteBankData. That's more than 16 times the amount held by First National in the same period.
The sun sets in Cooper.(Lynda M. Gonzalez / Staff Photographer)Enloe State counted $368,000 in past-due loans last year. First National, the bank down the road with a similar focus, reported loans worth $585,000 in the same category.
Regulators pay attention when loans become delinquent. But Enloe State Bank reported just $47,000 in loans it likely couldn’t collect over the last five years.
Low numbers of bad loans also can be a red flag, past FDIC reviews of failed banks found.
The paper trail
Stricter banking regulations were implemented in the aftermath of the Great Recession. The new requirements focus regulators’ attention on multibillion-dollar banks rather than ones with less than $40 billion in assets, some experts say.
“You’re going to spend more time on the bigger banks and less time on the smaller banks,” said David Crowther, a former FDIC bank liquidation specialist who now works as vice president for finance at Amtrak.
The FDIC and state banking department took turns inspecting Enloe State Bank. Results of those exams aren’t made public.
Investigators have yet to say how anyone benefited from fraudulent loans. But loans always leave a paper trail — or a missing one.
“It’s never a matter of if you’re going to get caught,” Rouch said. “It’s when you’ll get caught.”
Below we see the same thing happening today as occurred just before 2008 economic crash. What we see often is the name of failing banks tied to CITY or FEDERAL ---giving the idea these are PUBLIC BANKS----when they are simply owned privately.
CITY NATIONAL NJ owned by black business owner with $214 million in assets goes bankrupt. Whereas the TEXAS bank fraud targeted rural white citizens and small/regional businesses----this bank in NJ and NYC----targeted 99% WE THE BLACK CITIZENS with these manufactured frauds.
So, in 2017 CITY NATIONAL showing very shakey financial status ----Oh, look back in ROBBER BARON roaring 20s------the MOODY'S went bankrupt and returned as ENLOE.
'In 1907, Galveston businessman William Lewis Moody, Jr. founded the City National Bank in the Trust Building in downtown Galveston'
Who is the ANITA MOODY of the coming economic crash with failing banks! Well, let's see------Hmmmm, could be CHARLES WHIGHAM. Charles is a PRINCE HALL freemasonry tied to TRINITY CHURCH---TRINITY COLLEGE. This is the same connection to FDIC AGENT BOZZUTI inspecting the TEXAS bank failure.
'City National Bank of New Jersey
City National Bank of New Jersey is an FDIC-insured bank started in 1973 and currently headquartered in Newark, NJ. Regulatory filings show the bank having equity of $8.5 million on assets of $213.9 million, as of December 31, 2017'.
'Charles also served as President of the Essex County and Union County Funeral Directors Association, Past Master of Trinity Lodge #33 Prince Hall Affiliate F&AM, Trustee of the Newark Boys and Girls Club, University of Medicine and Dentistry of New Jersey, and the New Jersey Council of Churches'.
'2019The following 4 banks failed in 2019:
'4 City National Bank of New Jersey (City National) Newark New Jersey November 1, 2019 Industrial Bank 120.6'
Above we want this point------this round of manufactured bank failures with coming economic recession will see these failed banks being enfolded into what are called INDUSTRIAL BANKS------not for individual community banking---only commercial banking.
City National Bank (New Jersey)
From Wikipedia, the free encyclopedia
Not to be confused with City National Bank (California), which has a single branch in this bank's service area.
City National Bank of New Jersey
IndustryRetail and commercial banking
FateBank failure; assets acquired by Industrial Bank (Washington D.C.)
DefunctNovember 1, 2019; 3 months ago
Headquarters900 Broad Street
Newark, New Jersey
Number of locationsThree in Greater New York
Net income($3,677,000) (As of 12/31/11)
Total assets$358,442,000 (As of 12/31/11)
OwnerCity National Bancshares
Number of employees86 (As of 12/31/11)
City National Bank was a regional bank headquartered in Newark, New Jersey with four branches in the New York metropolitan area. According to the June, 2011 issue of Black Enterprise magazine, it was the seventh largest African-American owned and operated commercial bank in the United States.
As of January 2018 the bank had 3 branches, down from a peak of 9 in 2009: 2 in New Jersey and 1 in Harlem.
On Friday, November 1, 2019, City National Bank of New Jersey was closed by the Office of the Comptroller of the Currency. The FDIC was named receiver. Industrial Bank (Washington D.C.) acquired all deposit accounts and essentially all assets.
We will finish with those few current bank failures hitting in 2019 ------with the idea that soon there will be large numbers of failures with the recession just as 2008------led to 2010-----2011-----2012----2013 having record numbers of bank failures-----in YOUR NECK OF THE WOODS.
Below we see the same MODUS OPERANDUS for FEDERAL SAVINGS BANK OF CHICAGO----and there is a WHIGHAM working at this fraudulent and criminal bank----and WHIGHAM is tied to TRINITY CHURCH----TRINITY COLLEGE------you know-----those dastardly global banking freemasonry--------NOT RELIGIOUS. Someone walked away with a $16 million unpaid loan while FDIC came in to bail out consumers.
'The combined $16 million in loans to one borrower represents nearly a quarter of the small bank's loan portfolio and approaches the level at which regulators would start to think about imposing limits on lending to one customer.
Federal Savings had $273 million in assets at the end of March, mostly loans. It also had almost $72 million in equity capital'.
'Federal Savings Bank of Chicago
Jonathan WhighamMortgage Banker (NMLS#1400617)
Jonathan Whigham graduated from Eastern Illinois University with a degree in Corporate Communication and a minor in Business Administration. After obtaining his degree, he began his career in mortgage lending and financial services in the Chicago area'.
Now, we will look at how those OBAMA-ERA FDIC REFORMS will KILL the coming 99% WE THE PEOPLE as bank consumers because the FDIC FUNDS were FINANCIALIZED----MADE INTO COMPLEX FINANCIAL INSTRUMENTS where only TOP TIER insured bank consumers will get those limited FDIC FUND BAILOUTS.
A MORTGAGE BANKER is the subprime mortgage fraud-----real estate BULLY who today is HITTING PEOPLE as homeowners to get the HOUSES---HITTING PEOPLE to get NOSY NEIGHBORS AND THE GANG------PAUL MANAFORT would be that global banking 1% paying to maximize REAL ESTATE ASSETS VIA BANKS.
Report: Prosecutors demand records on Chicago bank's loans to Paul Manafort
By Becky Yerak
Chicago Tribune |
Jul 18, 2017 | 3:54 PM
Chicago-based Federal Savings Bank wouldn't comment Tuesday on a report that New York prosecutors have subpoenaed records related to $16 million in loans the institution made to former Donald Trump campaign manager Paul Manafort.
The Wall Street Journal, citing an unnamed person familiar with the matter, reported Monday that the Manhattan district attorney has demanded the records from the bank, whose chief executive, Steve Calk, was an economic adviser to Trump's presidential campaign. Manafort is under scrutiny from a special prosecutor and members of Congress for his dealings with Russian interests, part of the wider investigation into ties between Russia and members of Trump's campaign and administration.
Both Calk and the Manhattan district attorney's office declined to comment on the Journal's report.
Federal Savings Bank made about $6.5 million in loans in January to Manafort and his wife for a Brooklyn property, documents show. That came about a month after Federal Savings lent $9.5 million to Summerbreeze, a limited liability company connected to Manafort, according to 377 Union, a website run by two New York lawyers that is named for the address of the Manafort property in Brooklyn.
The combined $16 million in loans to one borrower represents nearly a quarter of the small bank's loan portfolio and approaches the level at which regulators would start to think about imposing limits on lending to one customer.
Federal Savings had $273 million in assets at the end of March, mostly loans. It also had almost $72 million in equity capital.
Loans representing 22 percent of capital would get regulators' attention, one bank analyst said.
"At a larger bank, I'd be very surprised to see loans to one borrower represent about 25 percent of capital," said Terry McEvoy, a bank analyst for Stephens. "At the community bank level, it may be more common but would likely be discussed with regulators frequently."
Lending limits help protect the safety of banks by diversifying the type of loans and pool of borrowers. The limits help prevent banks from lending too much to one person or related people.
The bank's chief regulator is the U.S. Office of the Comptroller of the Currency.
According to its website, a bank's total outstanding loans and extensions of credit to one borrower may not exceed 15 percent of the bank's capital and surplus, plus an additional 10 percent of the bank's capital and surplus, if the amount that exceeds that 15 percent general limit "is fully secured by readily marketable collateral."
Calk, the bank's CEO, has said the loans in question were "grossly overcollaterized." The Office of the Comptroller of the Currency couldn't be reached Tuesday for comment.
Federal Savings Bank earned $24 million last year and earned more than $4 million in the first quarter of this year.
About 1.1 percent of its loans are seriously delinquent, compared with about 1 percent for the typical bank in Illinois.
Despite scrutiny over the Manafort loans, Calk recently was named a Midwest regional finalist in the 2017 Ernst & Young Entrepreneur of the Year award.
In August, Calk was named one of 13 economic advisers for the Trump campaign. Manafort left the campaign later that month amid concerns over his role with a pro-Russian political party in Ukraine.
Federal Savings was born out of Generations Bank, a Kansas thrift bought by Calk and his brother John Calk in 2011. That bank, which had about $40 million in assets, was undercapitalized, facing regulatory restrictions and posting losses for five straight years, according to a 2012 story in ABA Banking Journal, an American Bankers Association publication.
AGAIN, WE HAVE COMMUNITY BANKS IDENTIFIED FOR CHARITABLE COMMUNITY GRANTS BEING THE BANKS FILLED WITH FRAUD AND CRIMINALITY.
Now headquartered on Chicago's Near West Side, successor institution Federal Savings in 2012 said it was getting $18 million in tax breaks over 10 years from the state through the Economic Development for a Growing Economy, or EDGE, program as well as up to $4 million in training money from the city of Chicago.
The bank had 842 full-time workers as of the end of March. Steve Calk has said about 10 percent of the bank's employees are veterans like him.
Federal Savings has three branches or loan production offices in Illinois: at its headquarters and in Lake Forest and Naperville, according to its website.
New Jersey bankrupt bank goes to this bank in DC-------
By Julia Kagan
Updated Jun 25, 2019
An industrial bank is a financial institution with a limited scope of services. Industrial banks sell certificates that are labeled as investment shares and also accept customer deposits. They then invest the proceeds in installment loans for consumers and small businesses.
These banks are also known as Morris banks or industrial loan companies.
Breaking Down Industrial Bank
Industrial banks differ from commercial lenders in that they accept deposits. They also differ from commercial banks because they do not offer checking accounts (mainly if their assets are more than $100 million). Furthermore, a third party acting as a guarantor might secure industrial bank loans.
Major industrial banks globally include the Industrial Bank of China, Industrial Bank of Iraq, and Industrial Bank of Korea.
Industrial banks are not well known throughout the financial services industry, in contrast with investment banks or other Wall Street firms.
Warren Buffet’s Creation of an Industrial Bank in Utah
Many companies set up industrial banks to handle consumer loans. In recent history, examples have included General Electric, General Motors, Harley Davidson, BMW, and financial institutions Morgan Stanley, American Express, and Sallie Mae.
In 2017, famed investor and entrepreneur (as well as billionaire) Warren Buffet announced plans to control an industrial bank in Utah to handle his R.C. Willey Home Furnishing consumer loans.
Industrial banks only exist in a few states, with Utah leading the charge. In 2017, Utah noted 29 industrial banks with combined assets of more than $120 billion. The Utah Department of Financial Institutions noted that in 2015, Utah was the fourth-largest center for state-chartered banking in the nation, behind only New York, Massachusetts, and California.
In addition to the state of Utah, the lobbying firm Foxley & Pignanelli has been a significant supporter for this arm of the banking industry. They advocate that industrial banks, directly and indirectly, support thousands of jobs across Utah.
Brief History of Industrial Banks
The concept of today’s industrial bank originated In 1910 in Norfolk, Virginia. Many consider the attorney Arthur J. Morris to have opened the first one, Fidelity Savings and Trust Company, which made small loans to working residents. These “Morris Plan” banks proliferated into automotive financing and credit life insurance.
Many industrial banks succeeded as industrial workers continued to want to borrow money but came up against obstacles from traditional banks. The 1956 passage of the Bank Holding Company Act has made it trickier to form new industrial banks; however, Utah’s industrial banks were created before this and have been “grandfathered” in (meaning they are exempt).