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From the Editors of American Banker
Year’s Failures Top 100 As Slew of Banks Collapse
WASHINGTON – Federal and state regulators shut six banks late Friday, pushing the failure total this year to 102.
Though the pace of failures briefly slowed earlier this month, they appear to be picking up momentum again, as Friday’s failures followed six last week.
All of the collapses were community banks, and combined they held $1.9 billion of assets and are estimated to cost the Deposit Insurance Fund $393.5 million.
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