NOVA Bank, Berwyn, PA, Fails – Depositors Face Losses As FDIC Fails To Find Buyer

Large depositors of NOVA Bank, Berwyn, PA, are in a panic today after state regulators closed the failed bank.  The FDIC, acting as receiver, was unable to find a buyer for NOVA Bank, and will pay off depositor accounts only up to the FDIC insurance limit of $250,000. NOVA Bank, established in 1887, had 13 […]

Is It Safe?

Should you keep your money in an FDIC insured problem bank? Or are you asking for trouble? As of the latest report released by the FDIC there were 416 problem banks at June 30, 2009, up from 117 the previous year and up from 305 on March 31, 2009.   Total assets held by the […]