(wire)
Number of 2010 bank failures climbs to 20
The Federal Deposit Insurance Corp. (FDIC) shut down four banks late last week, bringing the number of U.S. bank failures for the year to 20.
The FDIC took over La Jolla Bank, FSB, in La Jolla Calif., which has 10 branches and approximately $3.6 billion in assets and $2.8 billion in deposits.
In addition, the regulator seized George Washington Savings Bank in Orland Park, Ill., which had four branches, approximately $412.8 million in assets and $397 million in deposits.
Meanwhile, two smaller banks, located in Florida and Texas, were also taken over.
Last year, 140 banks were closed as a result of the extremely hostile economic environment.
The FDIC took over La Jolla Bank, FSB, in La Jolla Calif., which has 10 branches and approximately $3.6 billion in assets and $2.8 billion in deposits.
In addition, the regulator seized George Washington Savings Bank in Orland Park, Ill., which had four branches, approximately $412.8 million in assets and $397 million in deposits.
Meanwhile, two smaller banks, located in Florida and Texas, were also taken over.
Last year, 140 banks were closed as a result of the extremely hostile economic environment.
