Montana 1st News pulled our original article yesterday on this subject (May 7) to make further clarifications. Is Glacier Bancorp truly insolvent? The answer is we do not know for sure however according to a Montana resident who posted on GAB (See below) the gentlemen seems to believe that is the case.
(And perhaps that was the case until Glacier Bancorp was “loaded up” with funding via the Federal Reserve). If you research the link apparently BTFP is a lender.
It’s time for Montanans (and other states) to wake up and smell the coffee. Take a good look at the chart below and read the full report put out by Investor’s Business Daily.
An online GAB link shared the following information below.
“Glacier Bank is insolvent. It’s on the list of banks taking a Fed lifeline because they can’t cover their withdrawals and investment losses. If you bank there, might be time to switch it up, or at least take a chunk of money to another bank or credit union. And you won’t read or hear a thing about it in the local news.”
(report below)
19 Banks Grasp For $32.6 Billion Government Lifeline: Report
“Investors are making their best guesses at which banks are in the worst shape in the S&P 500 and out. But new data point a clearer picture of where the pain is.
Nineteen banks, including PacWest Bancorp (PACW), East West Bancorp (EWBC) and Glacier Bancorp (GBCI), loaded up with $32.6 billion from the Federal Reserve’s new Bank Term Funding Program (BTFP) that offers liquidity, says a report by S&P Global Market Intelligence. This facility helps banks meet withdrawals even as they sit on losses on their investments.”
(see chart below)
| Company | Symbol | As of date | BTFP balance ($ million) | % of total liabilities |
|---|---|---|---|---|
| First Republic Bank | (FRCB) | 3/31/2023 | $13,844 | 6.40% |
| PacWest Bancorp | (PACW) | 3/31/2023 | 4,910 | 11.80 |
| East West Bancorp | (EWBC) | 3/31/2023 | 4,500 | 7.40 |
| Glacier Bancorp | (GBCI) | 3/31/2023 | 2,740 | 11.00 |
| Hope Bancorp | (HOPE) | 3/31/2023 | 1,400 | 7.60 |
| Western Alliance Bancorporation | (WAL) | 4/14/2023 | 1,300 | 2.00 |
| W.T.B. Financial | (WTBFB) | 3/31/2023 | 850 | 8.80 |
| Eagle Bancorp | (EGBN) | 3/31/2023 | 800 | 8.10 |
| Associated Banc-Corp | (ASB) | 4/19/2023 | 644 | 1.80 |
| First National Bank Alaska | (FBAK) | 3/31/2023 | 350 | 6.90 |
| Business First Bancshares | (BFST) | 3/31/2023 | 310 | 5.40 |
| Southside Bancshares | (SBSI) | 3/31/2023 | 198 | 2.80 |
| Equity Bancshares | (EQBK) | 3/31/2023 | 140 | 3.00 |
| Northfield Bancorp (Staten Island, NY) | (NFBK) | 3/31/2023 | 135 | 2.70 |
| Avidbank Holdings | (AVBH) | 3/31/2023 | 94 | 4.70 |
| Ames National | (ATLO) | 3/31/2023 | 75 | 3.70 |
| Franklin Financial Services | (FRAF) | 3/31/2023 | 50 | 3.10 |
| 1st Capital Bancorp | (FISB) | 3/31/2023 | 40 | 4.50 |
| Truxton | (TRUX) | 3/31/2023 | 40 | 4.70 |
Sources: S&P Global Market Intelligence, IBD
You can read the full report by clicking here. MATT KRANTZ Investor’s Business Daily
For further information on how this Federal Reserve loan program BTFP works CLICK HERE.
Montana 1st News will attempt to find out which local NW Montana Banks do not take loans via the Federal Reserve.
