Two more banks go down...will this affect SA?

[NEsananto]

We should be fine:

By Travis E. Poling - Express-News
Texas banks, in general, are more stable than those in the rest of the nation, according to a report from the state and analysis by an Austin banking investments firm.
San Antonio and Houston area fared particularly well even as national banks like Washington Mutual and Wachovia were acquired because of shortfalls in capital thanks to loan defaults.
San Antonio banks had a bad debt to assets ratio of 0.27 percent in the second quarter, reported Shushunoff and Co. Investment Banking. A ratio of 1 percent or less is generally considered a healthy asset portfolio. The national average was 0.61 percent. By comparison, bank IndyMac had 7.57 percent of its assets in bad debt when it failed.
Moderator cut: rest of quote

[Bo]

JPMorgan Chase to close 12 San Antonio WaMu bank branches (http://blogs.mysanantonio.com/weblogs/clockingin/2009/01/jpmorgan-chase-to-close-12-wam.html - broken link)

To consolidate operations after its buyout of Washington Mutual last year, JPMorgan Chase & Co. plans to close 12 WaMu bank branches in San Antonio by the end of March. "Virtually all employees will have other jobs at the company,'' said JPMorgan Chase spokesman Greg Hassell.

[lemonfresh]

Was expected.

[smuboy86]

Austin Highway has A WaMu, directly next to a new Chase Branch, I wonder which one they are going to keep.

[sapphire]

Originally Posted by smuboy86

Austin Highway has A WaMu, directly next to a new Chase Branch, I wonder which one they are going to keep.

It's reminiscent of the Stop n Go/Diamond Shamrock dilemma. Or further back to the Stop n Go/7-Eleven dilemma. Which one goes, which one stays? We are going to be a town full of empty buildings!

However, think of the drive-thru business you could have if you opened up a taco joint in one of these old bank locations! You could do a chorizo and egg line/bean and cheese line/bacon and egg line--think of the possibilities! The drive-up ATM could be converted to the fountain drink center, since it would be tough to put a coke through the chutes, I would think.

[ryneone]

At least the article said that MOST employees are staying on!

[firstclassflyer]

More banks down for the count....


WASHINGTON (AP) -- Regulators on Friday closed Sherman County Bank in Nebraska, Riverside Bank of the Gulf Coast in Florida, and Corn Belt Bank and Trust Co. in Illinois, marking 12 failures this year of federally insured institutions.

The Federal Deposit Insurance Corp. was appointed receiver of the banks. Sherman County Bank, located in Loup City, Neb., had $129.8 million in assets and $85.1 million in deposits as of Feb. 12. Cape Coral, Fla.-based Riverside Bank had assets of $539 million and deposits of $424 million as of Dec. 31. Corn Belt Bank and Trust Co. of Pittsfield, Ill., had total assets of $271.8 million and deposits of $234.4 million as of Dec. 31.

Twenty-five U.S. banks failed last year, far more than in the previous five years combined. There were only three bank failures in 2007. It's expected that many more banks won't survive this year amid rising unemployment, falling home prices and tighter credit.

Regulators close banks in Neb., Fla., Ill.: Financial News - Yahoo! Finance (http://biz.yahoo.com/ap/090213/bank_closings.html - broken link)