Friday Failures

Working overtime this week, the FDIC shut down four banks. Here are the links:

MetroPacific Bank, Irvine, California

Horizon Bank, Pine City, Minnesota

Neighborhood Community Bank, Newnan, Georgia

Community Bank of West Georgia, Villa Rica, Georgia

Do you ever wonder who thinks up the name for these banks. Neighborhood Community Bank, how redundant is that?

At any rate, that makes 44 banks that tanked so far this year and 8 of them were in Georgia. So the Peach State now has the distinction of being the home to just a shade less than 20% of all bank failures in the country this year.

One more thing. Did you notice that Neighborhood Community Bank is in Newnan or for you Caddy Shack fans Noonan and of course Newnan or Noonan is in the Peach State and of course Caddy Shack gave us the unforgettable line, “That’s a peach, hon.” There is definitely blogosphere conspiracy theory material here.

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