Bank regulators closed Columbian Bank and Trust Company on Friday, the ninth U.S. bank to fail this year as the weakening economy and falling home prices take their toll on financial institutions. ...
Citizens Bank and Trust has agreed to assume the failed bank's insured deposits. Columbian Bank and Trust's branches will reopen on Monday as branches of Citizens Bank and Trust, which is based in Chillicothe, Missouri. ...
The failure is expected to cost the FDIC deposit insurance fund an estimated $60 million.
Sunday, August 24, 2008
9th Bank Failure of the Year
ABC News reports that a Kansas bank is the 9th to fail so far this year.
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When will the pain of the recession end? 3 years or 4? We have some tough financial times ahead of us. Soon we'll be burying our cash in the back yard
ReplyDeleteWhen will the pain of the recession end? 3 years or 4? We have some tough financial times ahead of us. Soon we'll be burying our cash in the back yard
ReplyDelete