Having talked to a banker who was involved in a take-over of a failing bank (ie, they were offered the failing banks assets by the FDIC a couple days before the announcement), the logistics are such that I think the announcements are sent out as they get word from the FDIC field teams who are seizing the failed bank. ie, the press release doesn’t go out until the field team leader calls DC to OK the announcement.
So, what you are saying is that the FDIC isn’t getting notified until after 8:00 p.m. EST on Friday night? Why doesn’t the FDIC just wait until next Friday to post it?
Hmmm... Certainly is a puzzler.
Cheers