Monday, October 5, 2009

Bank Failures in 2009


Posted By, Meredith Anderson



Three regional banks failed in Michigan, Minnesota and Colorado, raising the national tally. The closures will cost FDIC $293.3 million.

By Hibah Yousuf, CNNMoney.com contributing writer
Last Updated: October 5, 2009: 11:25 AM ET
NEW YORK (CNNMoney.com) -- Three regional banks were closed by regulators on Friday evening, bringing the 2009 tally to 98.
Warren Bank, based in Warren, Mich., Jennings State Bank in Spring Grove, Minn., and Southern Colorado National Bank, Pueblo, Colo., were the latest to go down.
Customers of all three banks are protected, however. The Federal Deposit Insurance Corp., which has insured bank deposits since the Great Depression, currently covers customer accounts up to $250,000.

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1 comment:

  1. Its good that even though these banks are closing, their customers have some protection for their money - Nicole Nelson

    ReplyDelete