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More Bank Failures
Category: Bank Profiles, Local Bank Deals, News and Notes- fhuff- 4:27 pm/ January 23, 2010Five more banks failed on Friday. Two of those banks had assets over $1 billion, according to the Wall Street Journal. So far this year nine U.S. banks have failed. Even the best banks continue to struggle in the weak economy and are dealing with customers defaulting on loans.
The Federal Deposit Insurance Corp. (FDIC) seized the assets of five banks on Friday, including:
- Premier American Bank, based in Miami, which had its assets sold to a unit of Bond Street Holdings LLC of Naples, FL.
- Bank of Leeton, based in Leeton, MO– Sunflower Bank of Salina, KS bought $20.4 million of the failed bank’s deposits.
- Charter Bank of Sante Fe, NM had most of its $1.2 billion in assets sold to Beal Financial Corp.
- Evergreen Bank in Seattle, WA had all its deposits and most of its assets transferred to Umpqua Bank of Roseburg, OR.
- Columbia River Bank of The Dalles, OR–Columbia State Bank of Tacoma, WA acquired $1 billion of its deposits and $1.1 billion of its assets.
About 174 banks have failed since 2008. You can search for point of contact information for failed banks on the FDIC website. More banks are expected to fail this year.
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