Bank failure toll reaches 123 (FDIC Friday)
Regulators close two Florida banks and on in California, costing the FDIC $986.4 million. NEW YORK (CNNMoney.com) -- Two Florida banks and one in California failed Friday night, bring the 2009 national tally to 123. Regulators closed Century Bank, Federal Savings Bank in Sarasota, Fla., Orion Bank in Naples, Fla., and Pacific Coast National Bank in San Clemente, Calif. Customers of all the failed banks are protected, however. The Federal Deposit Insurance Corp., which has insured bank deposits since the Great Depression, currently covers customer accounts up to $250,000.
Original Article: Forum: News/Activism
Tags: Bank Deposits, Bank Failure, Calif Customers, Century Bank, Cnnmoney, Customer Accounts, Failed Banks, Fdic, Federal Deposit Insurance, Federal Deposit Insurance Corp, Federal Savings Bank, Florida Banks, Great Depression, Naples Fla, National Bank, Orion, Pacific Coast, Regulators, San Clemente, Sarasota Fla