Three More Banks Go Belly Up

Friday 30 January '09 saw the closure of three more banks - MagnetBank out of Salt Lake City, UT; Suburban Federal Savings Bank out of Crofton, MD (between DC and Annapolis near Bowie); and Ocala National Bank out of Ocala, FL - which doubles the total of banks closed in '09 already and raises the total to 31 in the last six months. With the collapse in its infancy still, the numbers of banks that will close will probably near 200 to 350 by 2011 when all is said and done.

A locally owned bank based out of Greeley CO narrowed averted a similar fate when a capital call from its investors was ordered by federal banking regulators.

http://www.marketwatch.com/news/story/Regulators-close-three-more-banks/story.aspx?guid={882CF913-54E4-4C79-AABC-C5B1F4FD9745}

http://www.ksl.com/index.php?nid=153&sid=4867298

http://www.denverpost.com/business/ci_11592889

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