Tag Archives: FDIC

Bank Failures Continue on Barack Obama’s Watch

Three years ago today, I shared news about the skyrocketing number of bank failures during President Barack Obama’s time in office. Today, I share an unbelievable update.

Screenshot of July 12, 2012, post on bank failures under Obama.

Screenshot of July 12, 2012, post on bank failures under Obama.

On July 12, 2012, I not only recalled details from a July 13, 2008, piece in which I highlighted the Federal Deposit Insurance Corporation‘s list of 33 banks in the United States that had failed since 2000, but I also showed readers how many banks had failed between July 2008 and July 12, 2012. Specifically, I wrote:

The list of U.S. banks that have failed since 2000 has grown from only 33 in July 2008 to nearly 500 today, and the vast majority failed AFTER President Barack Obama took office.

What has happened since publishing that post three years ago? According to this FDIC list, another 67 banks — or almost two per month — have gone under. Included among them was the Feb. 27 failure of Doral Bank in San Juan, Puerto Rico, with more than $1.3 billion in assets at the time of its closure — and the Sept. 13, 2013, failure of  The National Bank of El Paso, with $3.1 billion in assets at the time of its closure, a figure listed atop Wikipedia’s “List of largest U.S. bank failures.”

In total, approximately 600 banks have failed since I began keeping score, and the vast majority — more than 80 percent of them — failed during Obama’s watch. And that’s a problem, because the United States of America can do better and must do better!

For links to other articles of interest as well as photos and commentary, join me on Facebook and Twitter.  Please show your support by buying my books and encouraging your friends and loved ones to do the same.  To learn how to order signed copies, click here. Thanks in advance!

Click on image above to order Bob's books.

Click on image above to order Bob’s books.

Author Finds Uncashed Check in Box of Memories!

On Sunday, I found a check — dated Sept. 14, 1970, and payable to yours truly that appears to have never been cashed — and decided to look up the bank online to see if I might be able to cash it today.  I was astounded by what I discovered.

I found this check while rummaging through a box of old photos recently acquired from my parents.

I found this check while rummaging through a box of old photos recently acquired from my parents.

After finding the check while rummaging through the contents of a box full of memories given to me by my 90-year-old parents recently as part of their never-ending effort to downsize, I went online and ran a Google search for the exact phrase, “Waukomis State Bank.”

The top search result looked promising, so I clicked on it and learned the small bank then located on Main Street only a few miles south of my forever hometown of Enid, Okla., had “merged with financial assistance into Cimarron Bank” Dec. 8, 1988.

Still curious, I clicked on the FDIC number shown for Cimarron Bank and learned it had “merged without assistance into The Bank of Woodward” May 28, 1993.

When I clicked on the FDIC number shown for The Bank of Woodward, then located on Main Street in a town about an hour west of Enid, I learned it had “merged without assistance into Boatmen’s National Bank of Oklahoma” May 29, 1993.

Another click — on the FDIC number for Boatmen’s National Bank of Oklahoma, then located on South Boulder Avenue in Tulsa — yielded news of yet another change in the banking landscape. The bank located almost two hours east of Enid had “merged without assistance into Bank of America, National Association” July 11, 1997.

Though I assumed the trailed ended there since Bank of America was still an active bank, I clicked on the FDIC number for the Charlotte, N.C.-based banking giant and discovered I was wrong. Somehow, Bank of America, National Association had “merged without assistance into Bank of America, National Association” July 23, 1999, the same day BoA had merged with NationsBank N.A.

And that’s where the trail ended for the uncashed check that will turn 45 years old in less than eight months. If only I had cashed that 25-cent check. Oh, the possibilities!

To see the face of the kid who should have cashed that check a long time ago but probably didn’t know how, click here.

For links to other articles of interest as well as photos and commentary, join me on Facebook and Twitter.  Please show your support by buying my books and encouraging your friends and loved ones to do the same.  To learn how to order signed copies, click here. Thanks in advance!

Click on image above to order Bob's books.

Click on image above to order Bob’s books.