Friday, August 20, 2010

Regulators Shut 4 California Banks

Regulators on Friday shut down four California banks, a big community bank based in Chicago, and banks in Florida and Virginia. The closures boosted to 118 the number of U.S. bank failures this year. The Federal Deposit Insurance Corp. on Friday took over the California banks: Butte Community Bank, based in Chico; Pacific State Bank, based in Stockton; Los Padres Bank, in Solvang; and Sonoma Valley Bank, in Sonoma.
The hangover from the 2003-07 bash continues....pass the Excedrin.

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