Four Bank Failures In Four States Increase Total Failures To 18

Four banking failures in four different states have increased total banking failures for 2011 to 18.  Small and mid sized banks continue to face the most difficulty as they find it impossible to raise additional capital required by regulators. During 2010 a total of 157 banking failures occurred, the most since 1992 when 181 banks […]

Canyon National Bank of Palm Springs, CA, Closed By Regulators

Canyon National Bank, Palm Springs, CA, was closed today by the Office of the Comptroller of the Currency, which appointed the FDIC as receiver.  The FDIC entered into a purchase and assumption agreement with Pacific Premier Bank, Costa Mesa, CA, to assume all deposits of failed Canyon National. All three branches of Canyon will be […]