Local Banks

[Towntalk]

Chase Bank

http://apnews.myway.com/article/20080717/D91VKJ082.html

[Towntalk]

Which talk show was it Jay?

Since it has already been published in a number of newspapers here in Ohio, National City Bank was named, BUT, NCB disputes the articles.

What needs to be stressed is the fact that the FDIC guarantees your money up to $100,000 and higher under certain circumstances, and I doubt that anyone here has the ceiling amount in their account, but if they do, its recommended that they transfer the amount above the $100,000 into either another account or another bank so that it can be fully protected.

As to the IndyMax Bank, it was reported today that the FBI is investigating that bank.

It must also be stressed that we are NO WHERE NEAR "great depression" conditions, and the one thing we need to do is avoid "panic conditions" by speculations that are not founded in fact. We certainly don't need runs on local banks.

[jay]

On a local talk show yesterday, two local banks were said to be on the list of banks in trouble.

[ytowner]

United Community Financial is doing horrific right now, they operate Home Savings. But you must realize all the financials are getting drilled right now due to the mortgage crunch!

[Towntalk]

Here is a report on Ohio Banks.

http://www.thestreet.com/print/story/10426207.html

[Towntalk]

One of them was referred to in a rather large article in the New York Times today, but until there is more detail, I'd rather not name it here since the bank has denied that they are in trouble or at least problamatic. Naming a particular bank prematurely is risky business since it could lead to a run on the bank, and further, the S.E.C. announced yesterday that it and the Justice Department will be investigating false rumors and would prosecute anyone who was caught spreading false information.

I'm following this story very closely on my web site and you can get the very latest information there.

[jay]

The run on Indymac in California has been in the news for the last few days.
Are any of our local banks in trouble?