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Regulators shut down 7 banks

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CNN
Saturday, October 23, 2010

(CNN) — Bank regulators closed seven banks Friday, bringing the total of number of bank failures for the year to 139, the Federal Deposit Insurance Corporation said.

Friday marked the largest number of banks closed since July 23, when the FDIC also closed seven banks, according to the FDIC’s website.

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The closed banks are the First Arizona Savings in Scottsdale, Arizona; First Bank of Jacksonville, Jacksonville, Florida; The First National Bank of Barnesville, in Barnesville, Georgia; First Suburban National Bank in Maywood, Illinois; The Gordon Bank in Gordon, Georgia; Hillcrest Bank in Overland Park, Kansas; and Progress Bank of Florida in Tampa, Florida.

All deposits were taken over by other financial institutions for six of the seven banks.

Full story here.

This article was posted: Saturday, October 23, 2010 at 5:16 am





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