Illinois ranks third, tied with Florida, for the largest number of bank or savings and loans failures this year and last. Georgia has the most, with nine, followed by California, with eight.
Illinois' banking industry is less consolidated than some other northern states with large populations, which may have contributed to the failures. New York, for example, had only 203 banks and thrifts chartered with the state as of Dec. 31. Illinois' heavy concentration in manufacturing and its proximity to the troubled Michigan market also creates a hurdle for its banks and thrifts.
To be sure, 80 of 658 Illinois banks and thrifts reporting as of Dec. 31 were assigned financial strength ratings of B-plus (Good Financial Strength) or higher by TheStreet.com Ratings. ...
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