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Two bank failures raise year's tally to 30

 
 

(CNN) -- The closures of Statewide Bank in Louisiana and Florida's Old Southern Bank brought the number of bank failures this year to 30, according to the Federal Deposit Insurance Corp

.

Even though both banks were closed Friday by state regulators, customers can continue using checks and cards because other banks will take over, the FDIC said in a statement.

 

Centennial Bank in Arkansas will take over the more than $319 million in deposits from Old Southern Bank.

 

Home Bank of Louisiana will assume the $208 million in deposits from Statewide and buy its $243 million in assets, the FDIC said.

 

In 2009, regulators shut down 140 banks. There were only 25 banks closed in 2008, according to the FDIC.

 

 

 
Find this article at:
http://www.cnn.com/2010/US/03/13/bank.closures/index.html?hpt=T2

 



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