Two more banks in US closed down

Sunday, September 26, 2010

Two more banks in US closed down

The dry economy in US could be gauged from the fact that banks in US are falling like nine pins. Every bank in US is suffering to hold on to its strength. The recent closure of two more banks tells the story of United States sluggish economy.

The regulators have made strong decision in wake of losses suffered by banks.

The North county Bank, Arlington is the latest casualty, the bank which is stationed in Washington is said to have $288.8 million in assets, and the deposits totalled $276.1 million.

The second bank which got closed is Haven trust bank Florida in the Ponte Vedra beach in Florida.

The Haven trust bank had assets worth $148.6 million, and the deposits were $133.6 million.

Both the banks had been listed as failures in the FDIC list. The Federal Deposit insurance Corporation have announced the closure of two banks.

It has been seen that banks that have medium and low assets are falling off. They have been facing the heat due to the low demand in the commercial real estate market.

It has been noted that smaller banks have doled out more real estate loans, and that is one reason why small banks have been shutting down more than the large banks in US.

No comments:

Related Posts Plugin for WordPress, Blogger...