Financial Institutions closed or obliged to be taken over; also suspension, cancellation or revocation of authorisations.
On Friday, 27 February, 2009, Security Savings Bank, Henderson, NV was closed by the Financial Institutions Division of the Nevada Department of Business and Industry and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.
Silver Falls Bank, Silverton, Oregon, was closed on 20th February 2009 by the Oregon Department of Consumer and Business Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
Pinnacle Bank, Beaverton, Oregon, was closed on 13th February 2009 by the Oregon Division of Finance and Corporate Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
The Eastern Caribbean Central Bank has inspected Bank of Antigua and found it sound and compliant with law and regulation. But its parent Sandford Group is suffering so much bad press that the regulator has stepped in. Technically, the bank isn't closed - but the measures amount to an intervention.
On 13 February, 2009, the FDIC was named as Receiver for Corn Belt Bank and Trust Company, Pittsfield, Illinois by Illinois Deptartment of Financial and Professional Regualation, Division of Banking.
On 13 February 13, 2009, the FDIC was named as Receiver for Riverside Bank of the Gulf Coast, Cape Coral, FL by the Florida Office of Financial Regulation.
Peru's Securities regulator has instructed Stanford International Group's local unit to suspend operations for 30 days pending further investigation.
In the growing clamour around the Caribbean for security for investors / depositors in Sanford International Group companies reaches a new level each day, regulators in Venezuela have intervened in a bank owned by the group. However, the bank has not been closed down - merely suspended whilst the situation calms.
On January 30, 2009, Ocala National Bank, Ocala, FL was closed by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. CenterState Bank of Florida is the assuming institution.
On 30 January, 2009, MagnetBank, Salt Lake City, Utah, USA, was closed by the Utah Department of Financial Institutions and the FDIC was named Receiver. No assuming institution could be located therefore the bank is closed with immediate effect.