$2.5B hit for FDIC: 9 banks fail on Friday
SAN FRANCISCO (MarketWatch)—Nine more U.S. banks, all owned by the same Illinois holding company, were closed Friday by regulators, and the FDIC said Bank of Minneapolis would assume their deposits.
The closings brought the 2009 total to 115—the first year since 1992 that more than 100 banks have gone under.
The banks as of Sept. 30 had combined assets of $19.4 billion and deposits of $15.4 billion, the FDIC said.
The deposit insurance fund will take an estimated $2.5 billion hit, the FDIC said.
