This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Banks In Ga., Mich., Minn., Mo., Calif. Closed

IEVA M. AUGSTUMS

CHARLOTTE, N.C (AP) ¿ Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans.

The Federal Deposit Insurance Corp. took over United Commercial Bank in San Francisco, with $11.2 billion in assets and $7.5 billion in deposits. East West Bancorp Inc., parent company of East West Bank based in Pasadena, Calif., is buying all of the deposits and most of the failed bank's assets.

The FDIC also closed United Security Bank, based in Sparta, Ga., with $157 million in assets and $150 million in deposits; Home Federal Savings Bank in Detroit, with $14.9 million in assets and $12.8 million in deposits; Prosperan Bank, based in Oakdale, Minn., with $199.5 million in assets and $175.6 million in deposits; and Gateway Bank in St. Louis, with $27.7 million in assets and $27.9 million in deposits.

Ameris Bank, based in Moultrie, Ga., agreed to assume the assets and deposits of United Security, while Liberty Bank and Trust Co., based in New Orleans, is buying the assets and deposits of Home Federal Savings.
1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
EWBC $44.45 0.00%
TBBK $9.42 0.00%
TRU $25.00 0.00%
USB $43.62 0.00%
AAPL $126.44 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs