Regulators closed on Friday Ameribank, which became the 12th bank failure this year as the struggling economy and falling home prices take their toll on financial institutions.
The Federal Deposit Insurance Corp said the Northfork, West Virginia-based bank had $115 million in assets and $102 million in deposits as of June 30. The failure is expected to cost the U.S. bank deposit insurance fund about $42 million.
Saturday, September 20, 2008
Another Bank Failure! Whoo-Hoo!
From CNBC:
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James, Cheering a bank failure?
ReplyDeleteI would cheer that this is *all* we had this weekend....
ReplyDeleteBut I think we have more pain to come in the weeks and months ahead..