The FDIC closed 4 banks on 5/7/10 which turns out to be a quiet week given the 22 banks closed during the prior 3 weeks. CA, AZ, MN and FL each received a vist from the FDIC. The estimated hit to the Deposit Insurance Fund (DIF) is $213.7 million.
Florida and Illinois are now tied for gold as each state has 10 closed banks in 2010. This week's hit to the DIF is paltry compared to last week's $7.33 billion hit.
The FDIC has shuttered 68 banks year to date and is well on their way to meet or beat the 140 closed banks in 2009.
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