Bank Failures in 2009 Up to 84

Three more banks failed on Friday, which means that there have now been 84 bank failures in 2009. Federal regulators shut down banks in the states of Minnesota, Maryland and California.
Mainstreet Bank was the bank in Minnesota that was shut down. Bradford Bank failed in Maryland, while Affinity Bank was the Californian bank that went belly up. Of the three banks, Affinity Bank was easily the largest.
Affinity Bank was assumed by Pacific Western Bank. While two of the Affinity Bank branches will reopen on Saturday under the new bank’s name, the vast majority of the changed branches will open their …read more