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Three U.S. Banks Fail, Bringing Year's Total To 51

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Three U.S. Banks Fail, Bringing Year's Total To 51 Empty Three U.S. Banks Fail, Bringing Year's Total To 51

Post by ToddS Sat Jul 09, 2011 9:49 am

Three U.S. Banks Fail, Bringing Year's Total To 51

By John Letzing

Published July 08, 2011

| MarketWatch Pulse

SAN FRANCISCO -- Three banks located in Chicago and Colorado were closed by regulators on Friday, bringing the total number of U.S. bank failures this year to 51. The Federal Deposit Insurance Corp. said Chicago-based First Chicago Bank & Trust, which had roughly $887.5 million in deposits, was closed. In addition, Windsor, Colo.-based Signature Bank, which had roughly $64.5 million in deposits, was closed, as was Castle Rock, Colo.-based Colorado Capital Bank, which had about $672.8 million million in deposits, the FDIC said. The three bank failures will cost the federal deposit-insurance fund a combined $590.4 million, according to the FDIC.

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