Six More Banks Go Bust

Posted by Orb Staff on September 20, 2010 No Comments
Categories : Residential Mortgage

The Federal Deposit Insurance Corp. (FDIC) seized six banks on Friday, which brings the national total for bank failure this year to 125.

Three of the six failed banks were based in Georgia – The Peoples Bank in Winder, First Commerce Community Bank in Douglasville and the Bank of Ellijay – which brings the state's total of failed banks in 2010 up to 14. Community & Southern Bank of Carrollton, Ga., assumed the deposits and also agreed to purchase nearly all of the assets of the three banks.

The other failed banks were Maritime Savings Bank in West Allis, Wis.; Bramble Savings Bank in Milford, Ohio; and ISN Bank in Cherry Hill, N.J.

SOURCE: FDIC

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