netbank is no more

[tourbillon_IHB]

netbank is no more. I guess the market already priced in this kind of things, a 2.5B bank went under, no reaction at all from the general market, strange indeed.

 

[CalGal_IHB]

It's good to know that netbank's depositor's FDIC money was immediately transferred to another institution (ING).

 

[awgee_IHB]

Haven't you ever noticed that when most banks go under, there is very little reporting on the event?

 

[Gohabsgo_IHB]

<p>Is there any reson for that?</p>

 

[reason_IHB]

<p>Awgee,</p>

<p>Is it because they don't want to cause panic and doubts amongst depositors?</p>

 

[profette_IHB]

<p>WASHINGTON, Sept 28 (Reuters) - EverBank Financial Corp, a privately-held bank, on Friday said it acquired about $700 million in mortgage assets of NetBank Inc (NTBK.PK: <a href="http://www.reuters.com/stocks/quote?symbol=NTBK.PK">Quote</a>, <a href="http://www.reuters.com/stocks/companyProfile?symbol=NTBK.PK">Profile</a>, <a href="http://www.reuters.com/stocks/researchReports?symbol=NTBK.PK">Research</a>), a failed Internet bank shut down by U.S. thrift regulators.</p>

<p>The transaction will give Jacksonville, Florida-based EverBank total assets of more than $5.3 billion, it said in a statement.</p>

 

[Major Schadenfreude_IHB]

<p>Wow! I remember those guys! They gave me $25 to open up a checking account, which I did. I never used the account, so I cancelled it and they returned "my" $25. </p>

<p>I had to pay taxes on that $25 though. </p>

 

[awgee_IHB]

reason - That would be my initial thought, but I always wonder who "they" are? Why would the press not want to report on something? Does the press really care if they create a panic? Maybe, but maybe not? And is there anybody with the type of influence it would take to keep the press from reporting on it? I wouldn't think so, but it always seems strange to me that banks go under with almost no press. Maybe no one cares?