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Subject: Banks Date: Sun, 06 Sep 2009 18:36:20 -0400 From: msterriannk@ http://www.dailyfinance.com/2009/09/05/five-more-banks-shuttered-2009-total- now-89/ Five more banks shuttered, bringing '09 total to 89 Douglas McIntyre <http://www.dailyfinance.com/bloggers/douglas-mcintyre/> <http://www.dailyfinance.com/bloggers/douglas-mcintyre/rss.xml> Image removed by sender. Douglas McIntyre RSS Feed Sep 5th 2009 at 9:30AM Text SizeAA <javascript:void(0)> A <javascript:void(0)> Filed under: Company News <http://www.dailyfinance.com/category/company-news/> , Economy <http://www.dailyfinance.com/category/economy/> <http://www.tipd.com/submit.php?url=http%3A//www.dailyfinance.com/2009/09/05 /five-more-banks-shuttered-2009-total-now-89/> Image removed by sender.More Image removed by sender.Regulators closed five more banks Friday night, bringing the total number of failures this year to 89, as losses on bad mortgages and construction loans continue to plague the financial industry. Located in Illinois, Iowa, Kansas and Arizona, the banks will cost the Federal Deposit Insurance Corp., the federal agency in charge of taking them over when they fail, a total of $401 million to close. Some observers say the price tag for these failures is becoming an issue; the agency has only a little over $10 billion in its account and will have to go to the Treasury if that sum rapidly dwindles. Near Chicago, InBank was shut down by <http://www.fdic.gov/news/news/press/2009/pr09162.html> regulators. It had $199 million in deposit. Chicago-based MB Financial Bank has agreed to assume its deposits. InBank's failure will cost the deposit insurance fund $66 million. Also in northern Illinois, Platinum Community Bank was closed by <http://www.fdic.gov/news/news/press/2009/pr09164.html> the Office of Thrift Supervision and the FDIC was made the receiver. The bank had total assets of $345.6 million and deposits of $305 million, the FDIC said. It authorized payout of insured deposits and estimated the cost to its Deposit Insurance Fund will be $114.3 million. MB Financial Bank will take the failed bank's direct deposits. First Bank of Kansas City was also closed <http://www.fdic.gov/news/news/press/2009/pr09161.html> . The FDIC said Great American Bank has agreed to assume the failed bank's deposits. First Bank had $16 million in assets and $15 million in deposits. Its failure is expected to cost the federal deposit insurance fund $6 million. In Arizona, First State Bank of Flagstaff's $95 million in deposits and $105 million in assets were sold off to <http://www.fdic.gov/news/news/press/2009/pr09165.html> Sunwest Bank, based in Tustin, Calif. And Vantus Bank in Sioux City, Iowa was also seized by <http://www.fdic.gov/news/news/press/2009/pr09163.html> the FDIC. Great Southern Bank of Springfield is assuming Vantus' $368 million in deposits. The most pessimistic analysts think a total of 300 or more banks may be shut in the next two years. The process still has a long way to go. Douglas A. McIntyre is an editor at 24/7 Wall St. *** exposing the hidden truth for further educational research only *** CAVEAT LECTOR *** In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. NOTE: Some links may require cut and paste into your Internet Browser. Please check <http://tinyurl.com/33c9yr> http://tinyurl.com/33c9yr for more real news posts and support the truth! (sorry but don't have time to email all posts) free book download: <http://www.lulu.com/content/165077> http://www.lulu.com/content/165077 *** Revealing the hidden Truth For Educational & Further Research Purposes only. *** NOTICE: Due to Presidential Executive Orders, the National Security Agency (NSA) may have read emails without warning, warrant, or notice. They may do this without any judicial or legislative oversight. You have no recourse, nor protection.......... IF anyone other than the addressee of this e-mail is reading it, you are in violation of the 1st & 4th Amendments to the Constitution of the United States. Patriot Act 5 & H.R. 1955 Disclaimer Notice: This post & all my past & future posts represent parody & satire & are all intended for entertainment and amusement only. To be removed from the weekly list, please reply with the subject line "REMOVE" --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "total_truth_sciences" group. To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/total_truth_sciences -~----------~----~----~----~------~----~------~--~---
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