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| Economy | |
| FDIC shuts two more US banks | |
| 2011-06-20 | |
| [Iran Press TV] US regulators have shut down two more banks in the states of Georgia and Florida, bringing the number of American bank failures this year to 47. The Federal Deposit Insurance Corp (FDIC) took over McIntosh State Bank, based in Jackson, Ga., with USD 339.9 million in assets and USD 324.4 million in deposits on Friday. FDIC also shuttered First Commercial Bank of Tampa Bay, in Florida with USD 98.6 million in assets and USD 92.6 million in deposits, according to Rooters. The pace of closure has decreased however, as banks are struggling their way through the debt crisis. In 2010, the number of banks shut down by mid-June stood at 83. The FDIC expects the total number of failures this year to be less than last year.
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| Posted by:Fred |