Bank of Clark County had about $39.3 million in uninsured deposits in 138 accounts that may exceed the insured limit.
During the current financial crisis, Seattle-based lender Washington Mutual became the biggest bank to fail in the U.S. history. It was closed in September while suffering from losses from soured mortgages and liquidity problems.
The FDIC agency also has a running tally of problem banks that its examiners closely monitor. At the end of the third quarter, 171 undisclosed institutions were on that list.
More details on Friday’s bank failures are posted on the FDIC’s website here and here
When do we the American people start to worry? Where is that savior Obama at, oh thats right he’s out riding a train trying to be a star while his supporters deface the United States Flag!
Don’t tell me that banks closing does not concern you! Must be like me not enough money in the bank to worry about!
Oh, bank failures happen. I seem to recall reading somewhere that banks were failing at around the normal rate during 2008. As long as the FDIC can prevent runs (and, so far, it can), I don’t worry too much about particular banks going under.
Whoops. I may have to revise and extend my remarks. Per the Reuters article you linked,
In 2008, 25 banks were seized by officials, up from just 3 in 2007.
I’ll have to find out more.