Five more bankis were closed this past week-end by the FDIC. I predicted for 2010 that 100 banks would fail.
Already, the score is 15 for the year. There are big banks on the list; e.g., First Regional Bank of Los Angeles reported $2.18 billion in assets, though many will undoubtedly be written off.
I am raising my prediction of the number of bank failures to 150 for 2010. Calculated Risk predicts 140 failures.
Advertisement
Filed under: Banking, Economy, The Ongoing Financial Crisis
[...] That’s Bank Failure #83 for 2010. At this time last year, there were 40 failures. Looks like my forecast of 150 failures this year, raised from 140 at the start of the year, will be on the low [...]
[...] January 31, I jumped the forecast to 150. At the time, I reaceived e-mails which suggested that I was too pessimistic. Now I seem to [...]
[...] January forecast of 150 bank failures was far too [...]