Tip'd

A community for financial news, ideas, and tips

Welcome to Tip’d, a social media site for finance, investing, and business topics. Want to participate? » Join Tip’d now! or read our FAQ.

3 Banks Failed Today - Downey and PFF in California and a Small Bank in Georgia

Posted by drake 1176 days ago, popular 1175 days ago (http://bankdeals.blogspot.com)
Category: Business | Tags: bank failures fdic
It has been a long time since we had three banks closed on a Friday. The big one was Downey Savings and Loan Association which was the third largest bank failure of the year after WaMu and IndyMac. The other California bank was PFF Bank and Trust. US Bank acquired deposits from both banks. The Community Bank in Georgia was the first to fail today. For all 3 of these closures, all deposits, including uninsured deposits, were transferred to the acquiring banks.
addto Save & Share   Topple Spam? Topple this!

Comments Who Tip'd