A June 3 article on bank failures overstated the loss that the Federal Deposit Insurance Corp. foresees from the closing of the failed Mechanics National Bank in Paramount, Calif. The FDIC expects its net loss to come to $23.8 million when Mechanics' assets are sold off.

One of the photographs that ran Wednesday with an interview of partners at McConnell, Budd & Downes Inc., a New Jersey investment advisory firm, was misidentified. The page 22 photo was of C. Edward "Ched" McConnell.

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