14 August 2009

It's Bank Failure Friday!

And here they are, ordered, and numbered for the year so far.
  1. Dwelling House Savings and Loan Association, Pittsburgh, PA
  2. Colonial Bank, Montgomery, AL
  3. Union Bank, National Association, Gilbert, AZ
  4. Community Bank of Arizona, Phoenix, AZ
  5. Community Bank of Nevada, Los Vegas, NV
So, Colonial Bank, the largest failure this year, failed. I mentioned it earlier:
All deposit accounts have been transferred to Branch Banking and Trust Company, (BB&T), Winston-Salem, NC ("assuming institution") and will be available immediately. The former Colonial Bank locations will reopen as branches of BB&T. Each location will operate by the same schedule it did prior to this transaction.
Full FDIC list

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