Five Banks Collapse In Four States – 2012 Bank Failures Total 22 – Are Your Deposits Insured?

Regulators got back to work during the last week of April, closing five banks in four different states.  A total of 22 banks have failed this year compared to a total of 92 bank failures during 2011.  If the rate of bank failures for the first four months of the year is annualized, total bank […]

Palm Desert National Bank, California, Closed By Regulators

Palm Desert National Bank, Palm Desert, California, was closed today by the Office of the Comptroller of the Currency.  The FDIC, appointed as receiver, sold the failed bank to Pacific Premier Bank, Costa Mesa, CA., which will assume all deposits of Palm Desert National. Established in 1981, Palm Desert was a relatively small bank with […]