US bank failures in 2010 surpass 100
US bank failures this year surpass milestone of 100; regulators shut 5 banks to make 101
Share
retweet
EmailPrint..Companies:Torch Energy Royalty Trust.On Friday July 23, 2010, 6:40 pm
WASHINGTON (AP) -- U.S. bank failures this year have surpassed a bleak milestone of 100 as regulators shut down banks in Georgia, Florida, South Carolina, Kansas and Minnesota.
The five bank seizures announced Friday bring to 101 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered.
The Federal Deposit Insurance Corp. says it took over Crescent Bank and Trust Co., based in Jasper, Ga., with about $1 billion in assets; Sterling Bank of Lantana, Fla., with $407.9 million in assets; Williamsburg First National Bank of Kingstree, S.C., $139.3 million in assets; Thunder Bank of Sylvan Grove, Kansas, $32.6 million; and Community Security Bank of New Prague, Minn., $108 million.
finance.yahoo.com |
