Small Banks Continue To Close

Did you think that the banking crisis was over? Federal regulators are continuing to shut down struggling banks. 129 banks have failed this year alone. The Federal Deposit Insurance Corp. shut down Wakulla Bank with $424.1 million in assets and Shoreline Bank in with $104.2 million in assets. The two bank failures are expected to cost the FDIC over $150 million dollars. The total number of bank failures for 2010 is expected to exceed last year's number of 140.