Happy FDIC Friday: Failed Banks Total Goes to 74 in 2009 and 99 since 2008.
By Daniel at 14 August, 2009, 7:56 pm
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Colonial Bank, Montgomery, Alabama was the biggest bank failure of 2009. (Colonial bank is a big lender to black owned businesses….. so watch for the politics.)
As of June 30, 2009, Colonial Bank had total assets of $25 billion and total deposits of approximately $20 billion.
Before this in 2008, we have seen bigger failures as Washington Mutual(Assets : $307 billion ) and IndyMac (Assets : $32 billion).
Check all the failed banks in 2009 at
http://portalseven.com/Failed-Banks-2009
Check map of failed banks at :
http://portalseven.com/Failed-Banks-Map-2009
More about today’s bank failures :
1)Dwelling House Savings and Loan Association, Pittsburgh, Pennsylvania
# 1th bank from Pennsylvania to be closed by FDIC
# As of March 31, 2009, Dwelling House Savings and Loan Association had total assets of $13.4 million and total deposits of approximately $13.8 million.
# PNC Bank, National Association, Pittsburgh, Pennsylvania, to assume all of the deposits of Dwelling House Savings and Loan Association.
# Cost to the Deposit Insurance Fund (DIF) will be $6.8 million
2)Colonial Bank, Montgomery, Alabama
# 1th bank from Alabama to be closed by FDIC
# As of June 30, 2009, Colonial Bank had total assets of $25 billion and total deposits of approximately $20 billion.
# Branch Banking and Trust (BB&T), Winston-Salem, North Carolina, to assume all of the deposits of Colonial Bank.
# Cost to the Deposit Insurance Fund (DIF) will be $2.8 billion.
PravinMaha
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