Bank Failure Friday July 30, 2010
Reuters: U.S. bank failures total 108 after 5 shut on Friday
By Corbett B. Daly
WASHINGTON | Fri Jul 30, 2010 10:59pm EDT
U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the Southeast, none publicly traded.
Bank failures are expected to peak this quarter, with the industry slowly recovering from large portfolios of bad loans, many tied to commercial real estate.
The banks seized on Friday were LibertyBank of Eugene, Oregon; The Cowlitz Bank of Longview, Washington; Coastal Community Bank of Panama City Beach, Florida; Northwest Bank & Trust of Acworth, Georgia; and Bayside Savings Bank of Port Saint Joe, Florida, according to the Federal Deposit Insurance Corp.
Bank Failure Friday Haikus from Soylent Green is People on Calculated Risk.
Red ink rivers rise
Bankers pray for sweet relief.
Survival in doubt
Florida condos
Ghostly towers of failure
Like area banks
The Cowlitz Bank failed.
Udderly Ridiculous!
Their milk shake was drank.
For whom the bell tolls?
Liberty pushed out to sea
Farewell to assets.