It's back....just when you thought bank failures had dissipated, oh not so. Another Friday, another round. Instead of happy hour, we have bank failures. These week is a foursome, listed below, with their costs to the FDIC deposit insurance fund:
- K Bank, Randallstown, Maryland, $198.4 million
- Western Commercial Bank, Woodland Hills, California, $25.2 million
- Pierce Commercial Bank, Tacoma, Washington , $21.3 million
- First Vietnamese American Bank, Westminster, California, $9.6 million/li>
For just this year, that's #11 for Washington and #12 in California. This week's Bank Failure Friday hits a milestone. Bank Closings for 2010 have exceeding the 140 Bank failures of 2009.
Additionally, the list of "Problem" banks increased to 829.