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http://www.fdic.gov/bank/individual/failed/banklist.html
Regulators on Friday 19th seized seven banks in five States, bringing to 37 the number of bank failures in the U.S. so far this year, as high unemployment and troubled loan portfolios continue to weigh on the sector:
.> (Parma, Ohio-based) American National Bank;
> (Duluth, Georgia-based) Century Security Bank, 2 branches;
> (Draper, Utah-based) Advanta Bank Corp.;
> (Ellijay, Georgia-based) Appalachian Community Bank, 10 branches;
> (Hiawassee, Georgia-based) Bank of Hiawassee, 5 branches;
> (Fort Deposit, Alabama-based) First Lowndes Bank, 4 branches;
> (Aurora, Minnesota-based) State Bank of Aurora.
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Advanta Bank Corp., at $1.6 billion in total assets and $1.5 billion in total deposits, was the largest of the seven, though the FDIC was unable to find a buyer.
The pace of bank seizures this year is likely to accelerate in coming months, regulators said, as losses mount on loans made for commercial property and development.
Full reports at the following links:
> http://news.yahoo.com/s/ap/20100319/ap_on_bi_ge/us_bank_closure;
> http://www.reuters.com/article/idUSN1917001120100319;
> http://www.rttnews.com/ArticleView.aspx?Id=1246385&Category=Breaking%20News&pageNum=1.
As if all that weren't enough...:
Keep Fed as watchdog of small US banks and Too big to fail is a "pernicious" problem, Bernanke says... :
> http://news.yahoo.com/s/ap/20100320/ap_on_bi_ge/us_bernanke_banking
> http://news.yahoo.com/s/nm/20100320/bs_nm/us_usa_fed_bernanke
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