Four Banks Closed In Georgia, Florida and Colorado – Losses Now Total $7 Billion

The continued decline in real estate values and aggressive lending during the real estate boom continue to haunt the banking industry.  Regulators closed four banks in three states this week bringing the total banking failures for the year to 84. Two banks were closed in Georgia which now accounts for 26% of all U.S. banking […]

Community Banks of Colorado Closed By Regulators

Community Banks of Colorado, Greenwood Village, CO, was closed by the Board of Governors of the Federal Reserve System.  The FDIC, appointed as receiver, sold the failed bank to Bank Midwest, N.A., Kansas City, Missouri. Bank Midwest will assume all deposits and purchase all assets of failed Community Banks.  All 40 branches of failed Community […]