Serious Quietly....a US bank has failed over this weekend

[vamjok]

Citizens Bank traded as CFG in NYSE, belonging to part of S&P 500 closed shop​

https://www.fdic.gov/resources/reso...nDpfYDOGhOXO-u1jpQ0QRycLiieWDIndgNIVvmvtj3Z2A

On Friday, November 3, 2023, Citizens Bank was closed by the Iowa Division of Banking. The Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. Iowa Trust & Savings Bank, Emmetsburg, IA, assumed all deposit accounts and substantially all the assets. All shares of stock were owned by the holding company, which was not involved in this transaction.

 

[syed putra]

Am I suppose to cheer or worry?

 

[k1976]

Citizens Bank traded as CFG in NYSE, belonging to part of S&P 500 closed shop​

https://www.fdic.gov/resources/reso...nDpfYDOGhOXO-u1jpQ0QRycLiieWDIndgNIVvmvtj3Z2A

On Friday, November 3, 2023, Citizens Bank was closed by the Iowa Division of Banking. The Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. Iowa Trust & Savings Bank, Emmetsburg, IA, assumed all deposit accounts and substantially all the assets. All shares of stock were owned by the holding company, which was not involved in this transaction.

Stealth bank run....bank close shop and literally runaway

 

[k1976]

Am I suppose to cheer or worry?

Should cheer on left, worry on right...like Buddhism also say

 

[k1976]

Huat big big hah

 

[k1976]

https://www.financialexpress.com/bu...rporation-fdic-appointed-as-receiver-3296943/

News start to leak 6hr ago

 

[k1976]

Citizens Bank Becomes The Fifth US Bank To Fail In 2023

Citizens Bank becomes the fifth US bank to fail in 2023

The two branches of Citizens Bank will reopen as branches of Iowa Trust & Savings Bank on Monday during normal business hours.

Written by Sunil Dhawan
November 4, 2023 11:15 IST
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Citizens Bank, closed, FDIC, receiver, US Banking Crisis

Citizens Bank is the fifth bank to fail in the nation this year.
The banking crisis continues in the US as another regional American bank shuts shop. The government has shut down Citizens Bank due to financial issues, allowing the Federal Deposit Insurance Corporation (FDIC) to take control without providing any public warning. FDIC issued a statement on November 3 stating the action taken on Citizens Bank.

Citizens Bank is the fifth bank to fail in the nation this year. Other failed banks list shows Heartland Tri-State Bank, First Republic Bank, Signature Bank, Silicon Valley Bank and First–Citizens Bank as other banks shut down in 2023. The shutdown started on March 10, 2023 with First–Citizens Bank going down-under.

 

[mojito]

Don't say fail. Just disqualified, that's all.