The incredible, bottomless FDIC closes three more banks

Before you go, we thought you'd like these...
Before you go close icon

Regulators closed Silverton Bank, which is based in Georgia, Citizens Community Bank of New Jersey, and America West Bank in Utah.

The total number of banks closed in the US during 2009 is now 32.

These bank closures cost the FDIC $1.7 billion, and, at this rate, the agency will have to go to the Treasury before the end of the years for additional funding, putting yet more strain on the efforts to fix the financial and credit systems.

Douglas A. McIntyre is an editor at 24/7 Wall St.

Read Full Story


S&P 500 2,343.98 -1.98 -0.08%
DJIA 20,596.72 -59.86 -0.29%
NASDAQ 5,828.74 11.04 0.19%
DAX 12,064.27 24.59 0.20%
NIKKEI 225 19,262.53 177.22 0.93%
HANG SENG 24,358.27 30.57 0.13%
USD (per EUR) 1.08 0.00 0.15%
USD (per CHF) 0.99 0.00 0.02%
JPY (per USD) 111.32 0.34 0.30%
GBP (per USD) 1.25 0.00 -0.33%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners