Sunday, April 19, 2009

25 failed US banks now

WASHINGTON - THE number of failed US banks reached 25 this year after two more regional financial institutions closed their doors, the government announced.

The tally for less than the first four months of this year has already equalled the total of last year.

On Friday, Great Basin Bank of Nevada, which has nearly 271 million dollars in assets and is based in the city of Elko, was closed by the State of Nevada Division of Financial Institutions, the Federal Deposit Insurance Corporation (FDIC) announced.

On the same day, American Sterling Bank of Sugar Creek, Missouri, with nearly US$172 million (S$258 million) in assets, was closed by The Office of Thrift Supervision. -- AFP

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