Only 2:00 on the west coast and Sheila Bair has already whacked two banks: Citizens Community Bank, Ridgewood, New Jersey; and Silverton Bank, National Association, Atlanta, Georgia.
Silverton was such a steaming turd that no other bank would buy its deposits and loans. The FDIC is going into the bank management business with that one.
Two banks this early on a Bank Failure Friday tauntingly tantalizes us... will we get more today?
UPDATE: Yep. America West Bank, Layton, Utah.
Early start to BFF: Citizens Community Bank (NJ) and Silverton Bank (GA)
By W.C. Varones - May 01, 2009
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