Friday, February 6, 2009
2 More Banks Take a Powder
Alliance Bank (Culver City, CA) and FirstBank Financial Services (McDonough, GA) were shuttered by the FDIC today. The 2009 total is now 8 closed banks. Both institutions were on the bad bank list.
Earlier this week, the Chief Operating Officer of the FDIC mentioned these tidbits:
- TLGP backed debt totaled $221 billion as of 1/28/09
- the FDIC suggested increasing its credit line with the Treasury Department to $100 billion (from the current $30 billion)
- FDIC losses will "probably be higher" than the $40 billion estimate from last Autumn
Posted by MK at 8:10 PM