The FDIC closed 3 more banks after grandpa's 5:30 pm post. Sheila Bair and her crack staff closed 7 banks on Friday, One bank was closed in Arizona, Kansas and Illinois while two banks were shuttered in Georgia and Florida.
The FDIC estimates the collective cost to the Deposit Insurance Fund (DIF) at $478 million with the single largest hit to the DIF coming from the closing of Hillcrest Bank and its 41 branches in Overland Park, Kansas.
Sheila Bair and the FDIC have closed 139 banks year to date with 12 of those banks closed in the October. FDIC closed a total of 9 banks in September, 10 in August and 22 banks were shuttered in July.
Florida has pulled away in the closed bank standings with 27 shuttered banks in 2010. Illinois and Georgia are tied for silver with 16 closed banks each.
140 banks were closed in 2009. Ten FDIC Friday's remain in 2010 however only 7 will likely see any closings as no matter how toxic the bank's assets, not likely the FDIC will close banks on the Friday after Thanksgiving, Christmas Eve or New Year's Eve.
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