Boom to Bust Burns a Banker - Who's Next?

May 16, 2008

The housing bust has already made headlines from the subprime fallout, claiming dozens of mortgage banks, producing asset write offs approaching $300 billion on a global basis, and forcing many of the largest financial institutions to raise billions in new capital. Now smaller banks are going over the cliff at the expense of its shareholders and the FDIC.

ANB Bancshares was an aggressive bank that expanded to $2.0 billion by raising big chunks of insured deposits from brokers and concentrated 75% of its loan book in construction loans. How many other banks are destined to fail? What are the drivers that will determine bank failures?

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