Four Banks Shuttered, Topping Last Years Total Failures With 143
WASHINGTON – Regulators closed another four banks Friday, making a total of 143 bank failures so far in 2010 and exceeding last year’s total of 140.
There have been 28 credit union failures so far in 2010, the same as all of 2009.
The latest failure were of $453 milion K Bank, Randallstown, Md., $221 million Pierce Commercial Bank, Tacoma, Wash., $99 million Western Commercial Bank, Woodland Hills, Calif. and $48 million First Vietnamese American Bank, Westminster, Calif.
About 300 banks have failed since the start of 2008, right after the financial crisis started. Though elevated, the level is well short of the more than 1,000 banks that went under in the savings-and-loan crisis of 1987-1992.