My Bad

On my last bank fail post, I listed the total number of bank failures this year at 28. This in error.

That number is just those banks closed by the FDIC, and I got it by totalling their Full list.

If you go there, and click on the most recent closing, it gives the current tally, which is 32 for the year.

Additionally, I neglected to mention the significance of the failure of Silverton Bank.

Silverton Bank was a large institution, providing services for other banks, about 1500 of them, not consumers.

It was a clearing house for payments, credits, and it repackaged loans among multiple banks.

As such, this may trigger further bank failures.

Posted via mobile phone....While in line for a roller coaster at Hershey Park.