US regulators on Friday shut two banks in California and two smaller banks in Georgia and South Dakota, adding to 57 the number of federally insured banks to be bankrupt this year alone.
The two smaller banks were First Piedmont Bank, based in Winder, Ga., which had about 115 million dollar in assets and $109 million in deposits as of July 6 and BankFirst, based in Sioux Falls, S.D., with around $275 million in assets and $254 million in deposits as of April 30.
The largest US bank failure ever also came last year: Seattle-based thrift Washington Mutual Inc. fell in September, with about $307 billion in assets. It was acquired by JPMorgan Chase & Co. for $1.9 billion in a deal brokered by the FDIC.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment