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The CDARS program allows banks to offer customers full FDIC insurance on deposits up to $50 million.

However, a lot of CRE and loan construction exposure remains at regionals and the continued seizure of 3 or 4 banks every week by the FDIC points to distress.

The FDIC’s action increased the amount of the bank’s impaired loans to $41.8 million as of June 30, up significantly from the originally reported $7.3 million.

Despite the overall effect of deeper losses that the restatement would have, OptimumBank said it expects it will maintain capital ratios in excess of the FDIC’s “well capitalized” requirements as of Sept. 30.

FDIC Chairwoman Sheila Bair, October 2007 As a result, moving into 2010, a fresh round of mortgage losses should come as no shock to anyone either.

The same statement could have been applied to Fannie ( FNM ), Freddie ( FRE ), the FHA and the FDIC, but the government does not let GSEs go belly up.

IberiaBank and the FDIC have a loss-share agreement on $656 million of assets of Century Bank and on $1.9 billion of assets of Orion Bank.

An FDIC spokesman said the agency looks at all assets on the balance sheets and expects banks to follow accounting rules.

Reuters - Sheila Bair, Chairman of the Federal Deposit Insurance Corporation (FDIC), speaks at the Women's Conference 2009 in Long ...

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