It wouldn't be Friday without a few bank failures

[pscot]

Marketwatch is reporting the two Florida banks. The others turned up in the comment thread:



LibertyBank, Eugene, OR
The Cowlitz Bank, Longview, WA
Coastal Community Bank, Panama City, FL
Bayside Savings Bank, Port Saint Joe, FL
NorthWest Bank & Trust, Acworth, GA

[divideandconquer]

1. Another Georgia bank!

Imagine that? Where's the media investigation of this Georgia phenomenon?

[FBaggins]

2. There isn't anything to investigate

The structure of banking in GA resulted in a large number of smaller banks (compared to most other states).

For instance, if you look at the one that failed yesterday in GA you'll see that they had ~$160 million in deposits. That equates to a single medium-large branch for many banks. There are hundreds of banks like that all throughout GA.

[FBaggins]

3. A link to a great site to illustrate the point.

You can watch the meltdown progress week by week... but zoom in and take a look at GA. It's really just a larger number of much smaller banks.

http://s.wsj.net/public/resources/documents/info-Failed_Banks-sort.html

[dixiegrrrrl]

4. Georgia has like 150 some counties...and a unique banking system

which created a lot of little banks.

Unless you track the amount of bank loss per bank, it is hard to get a clear picture of the closings.