Yahoo Finance
The decline in financial failure has been one of the big themes of the U.S. economic recovery over the past few years. As a general rule, corporate bankruptcies, debt defaults, and bank failures have been decreasing steadily. But last Friday, the Federal Deposit Insurance Corporation's bank-closure SWAT teams partied like it was 2009, closing five banks and bringing the total number of failures to 2012. (The completed failed bank list can be seen here.) [...]
[...]This was the worst Friday for bank closures since April 29, 2011, when five banks were closed. Together, the five banks closed last Friday had combined assets of $1.423 billion. So, through the first 17 weeks of 2012, 22 banks with a combined $6.5 billion in assets failed. That compares with 39 banks with a combined $16.96 billion in assets that failed in the first 17 weeks of 2011.[...]
Twenty five of those were in California.
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