SubscribeTwo More Banks Fail, Total For 2009 Is Now 23 Banks
AP:
Federal regulators shut down two more banks Friday, raising the number of bank failures so far this year to 23.
The first bank was Cape Fear Bank in Wilmington, N.C., the first North Carolina bank to fail in nearly 16 years. The other bank was New Frontier Bank of Greeley, Colo., the second Colorado bank this year to collapse.
The Federal Deposit Insurance Corp. took over both banks Friday after their respective state regulators closed them down.
The FDIC did not tap a buyer for New Frontier Bank, and instead created the Deposit Insurance National Bank of Greeley. The FDIC named San Francisco-based Bank of the West to manage the entity, which will stay open for about 30 days to give New Frontier Bank’s customers time to open accounts at other insured institutions.
John Polomny
The Real Deal
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