7 IL, TX banks closed today; 5 last week

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djw
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7 IL, TX banks closed today; 5 last week

Post by djw » Thu Jul 02, 2009 5:35 pm

Per CNN, 7 banks were closed today.
5 banks were closed last Friday.
Total is now 52 banks in 2009 vs. 25 in 2008.

More details on today's bank closures will be released soon.
Last edited by djw on Thu Jul 02, 2009 11:37 pm, edited 2 times in total.

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stratton
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Post by stratton » Thu Jul 02, 2009 5:44 pm

Seven this week.

Go here for FDIC press releases.

Paul

djw
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Post by djw » Thu Jul 02, 2009 11:39 pm

Seven banks fail, pushing 2009 tally to 52
Regulators close six Illinois banks and one Texas bank, setting the FDIC back a total of $314.3 million.

By Catherine Clifford, CNNMoney.com staff writer
Last Updated: July 3, 2009: 12:29 AM ET

NEW YORK (CNNMoney.com) -- Seven banks were shut down by authorities Thursday, pushing the tally of failed banks for 2009 to 52, more than doubling the failures in 2008.

Six regional banks in Illinois and one in Texas closed their doors, according to the Federal Deposit Insurance Corporation.

The rash of Illinois failures are interlinked: All six banks were controlled by one family and followed a similar business model that "created concentrated exposure in each institution," according to the FDIC.

Twelve banks in Illinois have failed this year. Thursday's failure in Texas was the first for the state in 2009.

http://money.cnn.com/2009/07/02/news/co ... /index.htm

billb
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Post by billb » Fri Jul 03, 2009 9:34 am

The FDIC makes the failed bank list available. It seems like it was updated in real time yesterday.

chaz
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Post by chaz » Fri Jul 03, 2009 9:53 am

A lot of bank employees join the ranks of the unemployed. Sad.
Chaz | | “Money is better than poverty, if only for financial reasons." Woody Allen | | http://www.bogleheads.org/wiki/index.php/Main_Page

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