TeakDoor.com - The Thailand Forum - View Single Post - A note of caution for those with deposits in US Banks

S Landreth · 16-08-2009, 06:06 AM

Largest bank failure of the year on Friday

Colonial BancGroup Inc. became the largest bank failure this year after the Federal Deposit Insurance Corporation seized the struggling Alabama-based lender Friday and sold it to BB&T Corp.

Late Friday, the FDIC announced four other banks had been closed: Community Bank of Las Vegas and its Arizona subsidiary, Community Bank of Arizona; Union Bank, Gilbert, Ariz; and Dwelling House Savings and Loan, Pittsburgh.

The Colonial BancGroup deal will knock roughly $2.8 billion off a pool of money, known as the Deposit Insurance Fund, which the FDIC maintains to guarantee bank customer deposits.

link: http://www.americablog.com/2009/08/largest-bank-failure-of-year-on-friday.html

16-08-2009, 06:06 AM	#1228 (permalink)
S Landreth Guest Member Last Online: Today 10:22 AM Join Date: Sep 2008 Location: Khon Kaen Posts: 1,288	Largest bank failure of the year on Friday Colonial BancGroup Inc. became the largest bank failure this year after the Federal Deposit Insurance Corporation seized the struggling Alabama-based lender Friday and sold it to BB&T Corp. Late Friday, the FDIC announced four other banks had been closed: Community Bank of Las Vegas and its Arizona subsidiary, Community Bank of Arizona; Union Bank, Gilbert, Ariz; and Dwelling House Savings and Loan, Pittsburgh. The Colonial BancGroup deal will knock roughly $2.8 billion off a pool of money, known as the Deposit Insurance Fund, which the FDIC maintains to guarantee bank customer deposits. link: http://www.americablog.com/2009/08/largest-bank-failure-of-year-on-friday.html __________________ Keep your friends close, and your enemies closer.