Two More Banks Added to Growing List of '09 Failures

Word has just come in of two new additional bank failures, increasing the number of failures so far for '09 to 25. Great Basin Bank of Elko, NV; and American Sterling Bank of Sugar Creek, MO (between Kansas City and Independence) were seized by federal banking regulators on Friday 18 April evening and will be reorganized in the coming weeks.

The failure of Great Basin Bank is the second bank failure in Nevada this year, following the failure in late February of Security Savings Bank in Henderson. American Sterling Bank is the first bank failure in Missouri for '09. The last bank to fail in Missouri was Hume Bank, of Hume, MO, in March '08.

With just over 15 weeks complete in the year, the pace of bank failures for the year is on a pace for a total of over 90 at least.

http://www.lasvegassun.com/news/2009/apr/17/great-basin-bank-fails-nevada-state-bank-takes-ove/

http://www.kansascity.com/news/breaking_news/story/1148270.html

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

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