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IPFS News Link • Economy - Economics USA

Five More U.S. Banks Are Seized, Pushing Total for Year to 89

09-05-2009 • Bloomberg

Lenders in Illinois, Iowa, Missouri and Arizona collapsed, pushing the number of bank failures to 89 this year amid continuing fallout from the worst economic slump since the Great Depression. Illinois lenders InBank of Oak Forest and Platinum Community Bank of Rolling Meadows; Vantus Bank of Sioux City, Iowa; First Bank of Kansas City, Missouri; and First State Bank of Flagstaff, Arizona were shut by regulators, and the Federal Deposit Insurance Corp. was named receiver, the agency said in statements yesterday. Closing the lenders, with combined assets of $1.1 billion and deposits of $982 million, will cost the deposit insurance fund about $401 million.

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