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U.S. Bank Collapses Reach 157 This Year as Six More Lenders Are Shuttered
Posted By MarleighJones On December 18, 2010 @ 1:12 pm In Economic Crisis | Comments Disabled
December 17, 2010
Regulators shuttered six banks holding a total of $1.23 billion in assets, including three in Georgia and one each in Arkansas, Minnesota and Florida, as real-estate losses drive this year’s bank failures to 157.
Florida has lost 29 lenders this year while 21 banks in Georgia were seized, the Federal Deposit Insurance Corp. said today in statements on its website. Regulators have closed 322 banks since the start of 2008. Today’s six closures cost the FDIC’s deposit-insurance fund a total of $267.6 million.
“We’re over the hump in terms of number of failures and the average size, and potentially in the cost of them,” Bert Ely, a banking consultant in Alexandria, Virginia, said in an interview. The crisis is “far from over but we’re making headway.”
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