Business News

Nov 7, 2009, 3:44 GMT

Five more US bank failures bring total for 2009 to 120

New York - Bank failures in the United States have risen to 120 this year as five more regional institutions were added to the list, the US agency that guarantees the safety of bank deposits said. United Commercial Bank in San Francisco with assets of 11.2 billion dollars was the largest of the failures reported Friday by the Federal Deposit Insurance Corp. The other banks were located in the states of Missouri, Minnesota, Michigan and Georgia and were substantially smaller. The depth of the financial crisis that last year touched off a global recession was seen in comparing the numbers of bank failures, which numbered 25 last year and three in 2007. The rate of this year's failures has not been seen since 1992 when 181 financial institutions failed as a crisis involving savings and loan associations wound down. That crisis was caused in large part by unwise real estate lending. Friday's bank failures included Prosperan Bank of Oakdale, Minnesota, with assets of 199.5 million dollars and United Security Bank of Sparta, Georgia, with assets of 157 million dollars. The others were Gateway Bank of St Louis, Missouri, with assets of 27.7 million dollars and Home Federal Savings Bank of Detroit, Michigan, with assets of 14.9 million.

And Also

Look Back at the Worst Celebrity Breakups

Look Back at the Worst Celebrity Breakups - PopEater
SQL Injection discovered on Wall Street Journal (Update) - The Tech Herald
Alien Breed Evolution: Xbox 360 Teaser Trailer - Cinema Blend
Celebrity Serial Marriers: Is Tiger Next? - PopEater
A&E series 'Hoarders' and 'Intervention' premiere Monday, Nov. 30th, preview

Your Talkback on this Story

Similar articles

Intel to pay 1.25 billion dollars to settle AMD dispute (Roundup)
Starbucks earnings perk up
MasterCard: third quarter profit increase as expenses decline
Viacom reports profit increase in third quarter
Capmark finance firm declares bankruptcy in US

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Latest Pics

Peter Facinelli

Kate Beckinsale

From Sites we Like

[Kremlin] reports that a [US gov't] airplane piloted by [CIA agents] and carrying a cargo of [mutated swine flu virus] was [shot down] at [Shanghai airport] by [Israeli Mossad saboteurs], [preventing] an attack on [bases in Kyrgyzstan] [Scary]
Photoshop theme: Mushrooms [Photoshop]

More Not News from Fark

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills; Celebrity Video; Music Video
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2009 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint