Four New Bank Failures in Maryland, New York and Okahoma

by CD Rates on July 10, 2010 · 0 comments

in Bank Failures

I guess the FDIC took a holiday during the fourth of July weekend because last weekend had no bank failures. On this Friday we had 4 bank failures, bringing the total to now 90 for the year. Last year at this time we were half that amount. Two banks failed in Maryland, one in New York and one in Oklahoma. The FDIC wasn’t able to find a buyer for Ideal Federal Savings Bank, but it was a very small bank with only $6 million in deposits.  For the other three banks, the FDIC arranged for other banks to assume all deposits.  Even deposits over the FDIC limit will be covered.  Here is a list of the failed banks with links to the FDIC press release:

No credit unions failed this week.

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