Three Banks Fail In Tennessee, Georgia and Florida – Total 2012 Bank Failures At 31

Regulators closed three banks in three different states, as loan losses continue to plague the banking industry.  Efforts by small banks to raise additional capital have become increasing difficult due to low loan demand, a slowing economy and investor antipathy towards banking stocks.  The latest three banking failures in Tennessee, Georgia and Florida bring total […]

Putnam State Bank, Palatka, FL, Closed By Regulators

Putnam State Bank, Palatka, FL, established in December 1988, was closed today by the Florida Office of Financial Regulation.  The FDIC, appointed as receiver for the failed bank, was able to sell Putnam State Bank to Harbor Community Bank, Indiantown, FL. During the height of the real estate mania and lending boom, few states saw […]