U.S. bank failure tally hits 34

[OhioChick]

Source: MarketWatch

Superior Bank had $2.7 billion in deposits

April 15, 2011, 8:28 p.m. EDT

SAN FRANCISCO (MarketWatch) — Regulators closed six U.S. banks including the principal subsidiary of Superior Bancorp. on Friday, bringing the year’s tally so far to 34, demonstrating the lingering effects of the financial crisis, according to the Federal Deposit Insurance Corp.

Hamilton State Bank will assume the deposits and buy the assets of failed Bartow County Bank of Cartersville, Ga. Bartow County Bank had $304.1 million in deposits and $330.2 million in assets.

Similarly, Citizens South Bank will assume the deposits and buy the assets of New Horizons Bank of East Ellijay, Ga. New Horizons Bank had about $106.1 million in deposits and $110.7 million in assets.

The closures bring the number of failed Georgia banks to eight this year.

Read more: http://www.marketwatch.com/story/two-georgia-bank-failures-bring-years-tally-to-30-2011-04-15-173840?reflink=MW_news_stmp

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http://www.fdic.gov/bank/individual/failed/banklist.html

[ixion]

1. Just another Bank Failure Friday... been going on for, what, 3 or 4 years now

that's a lot of banks.

[Iliyah]

3. And there will be one

one corporation which will control the world. Look at the old sci-fi movies. Read "Brave New World".

[TacticalPeek]

2. Poor banks.

:hippie:

[girl gone mad]

4. Too small to succeed/subsidize.

[midnight]

5. You would think that these bank closings would cause the Glass-Stegel act to be put back in place.

But I suppose boundaries and rules of law are not acceptable to the new ruling class....

[xchrom]

6. +1