Another One Bites The Dust !!! Citizens Bank just Failed.. FDIC Just Reported !!! 👀👀
(www.fdic.gov)
💥 BANK COLLAPSE 💥
Comments (29)
sorted by:
It's a regional bank in Iowa with two locations: https://thedeepdive.ca/citizens-bank-sac-city-fifth-bank-in-the-us-to-be-shuttered-this-year/
we have some of those here in MI too
From Nobody Special Finance, it looks like what took down Citizens Bank in Iowa was their Commercial Trucking Loan Portfolio (start about 5:30 min in)
https://www.youtube.com/watch?v=OC7G-n18q6E
BANK REG BLOG - A Bank Failure in Iowa - Fifth bank to fail this year
https://bankregblog.substack.com/p/a-bank-failure-in-iowa
Maybe my car loan payments will delete along with them…
hardly, the loans get sold off to a new bank or some other bank who "buys" it. Fractional reserve banking works both ways, and in the consumer's case, the loan for a 500,000$ house can easily be sold for a 100,000 ... but the goy is still on the hook for the full amount
The way I’m reading this, it’s not the entire bank, but rather a particular branch in a particular city (this one in Sac City, Iowa, population 2063).
Ok thank goodness.
All Assets and Deposits have been Seized
By who?
by whom
Who else but the Rothschildes very own Federal Reserve maybe??? 🤔🤔😄🤣
Adjusted for inflation the first 3 of 5 banks that have collapsed this year already is larger than the 2008 banking crisis.
Just two branches in Iowa - nothing to see here, no reason to panic.
I don’t think it’s about panicking. We don’t do that here. It’s about being informed and prepared.
When in fear and when in doubt Run in circles, scream and shout
Good advice.🤣
We don't panic on FDIC Friday. We celebrate.
u/#pepedance
It's the regional banks that are holding the huge empty bag called commercial real estate.
Hey if your bank is going to fail it's best it goes early and takes what little is left in FDIC
I use citizens. What does this mean?
There is more than one banking organization named citizens. We have many in PA. But they aren't related to the Iowa organization.
you use jp morgan chase now
It says Iowa Trust & Savings Bank has acquired your bank.
We used to have Citizens Bank here in Indiana that was bought out in 2015 or so by Indiana's Largest Bank, First Merchants Bank.
From reading it it says the bank has nothing to do with citizen financial group and "Particularly, the bank is said to have a concentration of out-of-territory and out-of-state loans to one undisclosed industry, which incurred heavy losses." That might be worth digging on what the out of state loans and industry were about.
Yikes, what happens with debt??
Info here.
https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/citizensbank.html
I have withdrawn all of my cash except for a couple hundred dollars.