peaceandlove
07-21-2009, 09:45 AM
Regulators Shut Banks in California Georgia and South Dakota
Regulators shut Calif. banks, small banks in Georgia, South Dakota; marks 57 US bank failures
By Marcy Gordon, AP Business Writer
On Saturday July 18, 2009, 2:36 am EDT
WASHINGTON (AP) -- Regulators on Friday shut two banks in California and two smaller banks in Georgia and South Dakota, boosting to 57 the number of federally insured banks to fail this year.
The Federal Deposit Insurance Corp. was appointed receiver of the four banks. The two biggest were Temecula Valley Bank, in Temecula, Calif., with $1.5 billion in assets and deposits of about $1.3 billion as of May 31 and Vineyard Bank, National Association, of Rancho Cucamonga, Calif. It had assets of $1.9 billion and $1.6 billion in deposits as of March 31.
The two smaller banks were First Piedmont Bank, based in Winder, Ga., which had about $115 million in assets and $109 million in deposits as of July 6 and BankFirst, based in Sioux Falls, S.D., with around $275 million in assets and $254 million in deposits as of April 30.
Continues: http://finance.yahoo.com/news/Regulators-shut-banks-in-apf-3150718720.html?x=0
Regulators shut Calif. banks, small banks in Georgia, South Dakota; marks 57 US bank failures
By Marcy Gordon, AP Business Writer
On Saturday July 18, 2009, 2:36 am EDT
WASHINGTON (AP) -- Regulators on Friday shut two banks in California and two smaller banks in Georgia and South Dakota, boosting to 57 the number of federally insured banks to fail this year.
The Federal Deposit Insurance Corp. was appointed receiver of the four banks. The two biggest were Temecula Valley Bank, in Temecula, Calif., with $1.5 billion in assets and deposits of about $1.3 billion as of May 31 and Vineyard Bank, National Association, of Rancho Cucamonga, Calif. It had assets of $1.9 billion and $1.6 billion in deposits as of March 31.
The two smaller banks were First Piedmont Bank, based in Winder, Ga., which had about $115 million in assets and $109 million in deposits as of July 6 and BankFirst, based in Sioux Falls, S.D., with around $275 million in assets and $254 million in deposits as of April 30.
Continues: http://finance.yahoo.com/news/Regulators-shut-banks-in-apf-3150718720.html?x=0