FirstBank 7th failed bank of year, 32nd of recession

[UpInArms]

Source: CBS Marketwatch

SAN FRANCISCO (MarketWatch) -- FirstBank Financial Services of McDonough, Ga. became the seventh bank of 2009 to fail and the 32nd of the recession on Friday, according to the Federal Deposit Insurance Corporation. Regions Financial Corp. (RF: 4.20, +1.37, +48.4%) said it will assume about $285 million in total deposits from FirstBank, and that the FDIC will retain most of FirstBank's loan portfolio for later disposition.

Read more: http://www.marketwatch.com/news/story/georgias-firstbank-financial-closed-us/story.aspx?guid=%7B53E5B12B%2D344F%2D4498%2DB305%2D322779DFF5D9%7D&siteid=bnbh

---

and #8!

http://www.fdic.gov/bank/individual/failed/alliance.html

On February 6, 2009, Alliance Bank, Culver City, CA was closed by the California Department of Financial Institutions (DFI) and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions.

It's a "Twofer" Friday!

[BumRushDaShow]

1. And the beat goes on....

[eppur_se_muova]

2. If the Fifth Third Bank fails its going to make for another confusing headline ...

:crazy:

https://www.53.com