Bank Failure Rate Quickens Through January 2009
January 31, 2009 by Pelikan · Leave a Comment
Filed under: Banking, Recession, U.S. Economy, U.S. Financial Crisis
Filed under: Banking, Recession, U.S. Economy, U.S. Financial Crisis
Three more banks failed in the U.S. this past week according to the Federal Deposit Insurance Corp. This brings the FDIC insured bank failure total during the current recession to 58. Since the FDIC began publishing the Failed Bank List in October 2000, 53% of all bank failures have occurred during the current recession.
November 2008, with five bank failures, previously was the month with the most failures over the past 13 months. January 2009′s final tally is six bank failures. Yesterday’s addition to the list include:
- Ocala National Bank, Ocala, FL
- Suburban Federal Savings Bank, Crofton, MD
- MagnetBank, Salt Lake City, UT
