05 June 2009

Friday Night FDIC Bank Seizures

Bank of Lincolnwood, Lincolnwood, IL, which makes 37 for the year.

Additionally, we have an update on Silverton Bank of Atlanta, Georgia. This large, "Bank of Banks," has been unable to find a buyer, so they are going to have to wind it down, at considerable taxpayer expense:
The U.S. Federal Deposit Insurance Corp said Friday that it would wind down Silverton Bank, a failed Atlanta bank that regulators seized last month, and sell its assets instead of trying to sell it as a whole.
Full FDIC list

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