FDIC Shuts Down Five More Banks

Saturday, June 27, 2009
SmarTrend(R) News Watch: FDIC Shuts Down Five More Banks

Jun 27, 2009 (SmarTrend(R) News Watch via COMTEX) ----The FDIC closed five more small banks, bringing the total number of bank failures this year to 45. The five banks were the Community Bank of Villa Rica, GA; Neighborhood Community Bank of Newnan, GA; Horizon Bank in Pine City, MN; MetroPacific Bank in Irvine, CA; and Mirae Bank in Los Angeles, CA. Although the FDIC has found other banks to assume nearly all of the insured depositors, the bank closures is said to cost the FDIC insurance fund approximately $247 million.


Source:http://www.foxbusiness.com/story/smartrendr-news-watch-fdic-shuts-banks/

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