Can anyone change the sign name to obamaville?
Posted on 12/12/2009 10:07:33 AM PST by FromLori
Three U.S. banks in Florida, Arizona and Kansas failed on Friday, bringing the year's tally to 133 and taking a $250 million bite out of the federal deposit-insurance fund as the credit crunch claims more victims.
Miami-based Republic Federal Bank was closed by regulators, and Boca Raton, Fla.-based 1st United Bank agreed to assume its deposits.
Republic Federal Bank had $433 million in assets and $352.7 million in deposits as of Sept. 30, according to the Federal Deposit Insurance Corp. Its failure will cost the deposit-insurance fund $122.6 million.
The bank failure is the 13th in the Sunshine State this year.
Mesa, Ariz.-based Valley Capital Bank also was closed by regulators, marking the fourth failure in that state in 2009.
Valley Capital Bank had $40.3 million in assets and $41.3 million in deposits as of Sept. 30, the FDIC reported. Its failure will cost the insurance fund $7.4 million.
Overland Park, Kan.-based SolutionsBank became the third failure in that state this year.
SolutionsBank had $511.1 million in assets and $421.3 million in deposits as of Sept. 30, the FDIC said. Its failure will cost the deposit-insurance fund $122.1 million.
I did it again the moderator is going to kill me so sorry here is the link
http://www.marketwatch.com/story/three-bank-failures-take-years-tally-to-133-2009-12-11
Can anyone change the sign name to obamaville?
Ever notice they always announce these on a Friday?
There is definitely a disconnect between Wall Street and Main Street.
Yes I call it bank failure Friday they do it so people won’t notice.
I couldn’t agree more.
I doubt the mods will kill you. I think they're too busy hunting Darwinists right now, to go after link-forgetters :-)
That is so they can get everything organized so it can reopen on Monday with new management. They usually engineer another bank to take over the operation and the weekend gives them the time to complete the process as smoothly as possible for the people banking there.
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