Another Bank Bites The Dust...8 Failures This Year
Bank regulators closed a small
Florida-based bank on Friday, the eighth U.S. bank to fail this
year under pressure from a weak economy and a credit crisis
precipitated by falling home prices.
The Federal Deposit Insurance Corp said First Priority Bank had $259 million in assets and $227 million in deposits and its failure will cost the federal fund that insures deposits an estimated $72 million.
The Federal Deposit Insurance Corp said First Priority Bank had $259 million in assets and $227 million in deposits and its failure will cost the federal fund that insures deposits an estimated $72 million.
Wise Owl