Sunday, September 20, 2009

US bank failures rise to 94 in 2009

Two more US banks have closed down, including the sixth largest bank bankruptcy this year, to bring the total number of bank failures this year to 94, according to the government banking insurer.

The Indiana-based Irwin Union Bank was shuttered with a total of $US2.7 billion ($A3 billion) in assets and total deposits of about $US2.1 billion ($A2.41 billion), the Federal Deposit Insurance Corporation (FDIC) said in a statement on Friday."

(source: Sydney Morning Herald)

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