Posted on 08/07/2009 5:48:19 PM PDT by rabscuttle385
NEW YORK — Regulators on Friday shut down two banks in Florida, bringing to 71 the number of federally insured banks to fail this year under the weight of the weak economy and rising loan losses.
The Federal Deposit Insurance Corp. was appointed receiver of the banks: First State Bank of Sarasota, Fla., and Venice, Fla.-based Community National Bank of Sarasota County.
First State Bank had total assets of $463 million and deposits totaling $387 million. Community National Bank had $97 million of assets and $93 million in deposits.
(Excerpt) Read more at google.com ...
Only closed two banks!
Happy Days Are Here Again!
All Hail The Messiah!
Everything slows down in August...
Thanks for the ping.
Regulators closed a third bank late Friday, Community First Bank in Prineville, Oregon.
Total cost of all three failures to the FDIC was $185 million, per AP wire reports.
Regulators close 3 banks in Fla., Ore.; total 72 (AP)
Failed Bank Information for Community First Bank, Prineville, OR (FDIC)
Odd that this is happening when everything is turning around.../s
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