Three More Bank Failures, 98 in 2009

With three more bank failures on Friday, there have now been 98 bank failures in 2009. The three banks that were shut down by the feds were in the states of Michigan, Minnesota and Colorado.
By far the biggest bank shut down on Friday was Michigan’s Warren Bank. Based in the city of Warren, the bank had nearly $540 million in assets. Warren Bank will be assumed by the Huntington National Bank and all six branches will be reopened on Saturday.
In Spring Grove, Minnesota, Jennings State Bank was shut down. Central Bank, based in Stillwater, Minnesota, will assume Jennings State Bank.
Colorado’s …read more