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Regulators shut 7 banks in 5 states; 37 in 2010
Regulators shut banks in Alabama, Georgia, Minnesota, Ohio and Utah; makes 37 this year
WASHINGTON (AP) -- Regulators on Friday shut down seven banks in five states, bringing to 37 the number of bank failures in the U.S. so far this year.
The closings follow the 140 that succumbed in 2009 to mounting loan defaults and the recession.
The Federal Deposit Insurance Corp. took over First Lowndes Bank, in Fort Deposit, Ala.; Appalachian Community Bank in Ellijay, Ga.; Bank of Hiawassee, in Hiawassee, Ga.; and Century Security Bank in Duluth, Ga.
The agency also closed down State Bank of Aurora, in Aurora, Minn.; Advanta Bank Corp., based in Draper, Utah; and American National Bank of Parma, Ohio.
http://finance.yahoo.com/news/Regulators-shut-7-banks-in-5-apf-2660571978.html?x=0&.v=10
Regulators shut 7 banks in 5 states; 37 in 2010
Regulators shut banks in Alabama, Georgia, Minnesota, Ohio and Utah; makes 37 this year
WASHINGTON (AP) -- Regulators on Friday shut down seven banks in five states, bringing to 37 the number of bank failures in the U.S. so far this year.
The closings follow the 140 that succumbed in 2009 to mounting loan defaults and the recession.
The Federal Deposit Insurance Corp. took over First Lowndes Bank, in Fort Deposit, Ala.; Appalachian Community Bank in Ellijay, Ga.; Bank of Hiawassee, in Hiawassee, Ga.; and Century Security Bank in Duluth, Ga.
The agency also closed down State Bank of Aurora, in Aurora, Minn.; Advanta Bank Corp., based in Draper, Utah; and American National Bank of Parma, Ohio.
http://finance.yahoo.com/news/Regulators-shut-7-banks-in-5-apf-2660571978.html?x=0&.v=10