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Message: FDIC Friday and Charts
Most people have already been de-sensitized to failing banks so any new failures receive minimal attention. Provided below is the latest on the two that failed last night.
For weekend reading purposes, I have attached further below a few charts that are worth noting.
Regards - VHF
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2 more banks go belly-up
Regulators close down Franklin Bank, a Houston bank with $5.1 billion in assets, and Security Pacific Bank of California, with assets of $561 million, raising the tally of failed banks this year to 19.
By Catherine Clifford, CNNMoney.com staff writer, and Tami Luhby, senior writer
Last Updated: November 8, 2008: 9:18 AM ET
NEW YORK (CNNMoney.com) -- The tally of failed banks in 2008 rose to 19 as the government announced that a Texas and a California bank had been shuttered Friday night.
Franklin Bank, a Houston, Texas-based bank and Security Pacific Bank, a Los Angeles, Calif.-based bank were shut down by state regulators Friday, marking the 18th and 19th bank failures this year.
Franklin Bank (FBTX) had total assets of $5.1 billion and total deposits of $3.7 billion as of Sept. 30, 2008, according to a statement on the Federal Deposit Insurance Corp.'s Web site.
Security Pacific Bank had total assets of $561.1 million and total deposits of $450.1 million as of October 17, 2008, according to the FDIC.
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