Three More Banks Shuttered, Making 146 Failures For 2010
WASHINGTON – Regulators closed three more banks Friday, two in Georgia and one in Arizona, making 146 bank failures so far this year.
Friday’s failures were: Darby Bank & Trust, a $655 million bank in Vidalia, Ga., and Tifton Banking Co., a $144 million Tifton, Ga., bank, and Copper State Bank, a $165 million institution in Scottsdale, Ariz.
There have been 28 credit union failures so far this year.
Bank failures are mounting at the fastest pace since 1992, surpassing last year’s total of 140. The FDIC’s tally of problem banks climbed to 829 banks with $403 billion in assets at the end of the second quarter, a 7% increase from the 775 on the list in the first quarter.