Regulators in Texas closed Guaranty Bank
Regulators in Texas closed Guaranty Bank last week. Guaranty Bank had about $13 billion in assets. This bank was the third-largest bank to fail this year.
Previously, Alabama-based Colonial BancGroup was fail and it was the sixth-largest bank failure in U.S. history. Well, I guess this is a bad year for banking. Now, the number of banks shut this year is more than three times the number of banks that failed in 2008, and it’s the highest tally since 1992, when 181 banks failed. (CNN Money)
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August 29th, 2009
Bankruptcy