The week of setting clocks ahead one hour and the FDIC springs ahead and shutters 7 banks. According to the FDIC, the collective estimated hit is $1.282 billion.
37 banks have been shuttered year to date and the gold medal contenders are WA, MN, GA and FL each with 4 closed banks. UT and FL are vying for silver with 3 closed banks each. 140 banks were shut down in 2009 (average of 2.7 banks per week).
It appears that 2010 with an average of 3.36 banks per week could very well knock last year out of contention. At this run rate, we could witness 175 banks knocked to their knees in 2010.
Maybe closings will slow down when we fall back and set the clocks back an hour in November.