"Our Children and Grandchildren are not merely statistics towards which we can be indifferent" JFK

Saturday, January 22, 2011

FDIC closes 7 banks year to date with a $641.2 mil hit to deposit insurance fund

The FDIC closed 4 banks on Friday, January 21st bringing the year to date total to 7. According to the FDIC press releases, the estimated total cost to the Deposit Insurance Fund (DIF) from 2011 closings is $641.2 million. As of 1/21/2011, one bank closing occured in CO, NC, SC, AZ and Fl. Two banks have been closed in GA.

The FDIC closed a total of 15 banks during January 2010 and 157 for the entire year. For all of 2009, the FDIC closed 140 banks.

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