Friday Failures

From Georgia to California, the avenging FDIC strode the land this Friday and struck down four more miscreant banks. Here are the links:

Temecula Valley Bank, Temecula, California

Vineyard Bank, Rancho Cucamonga, California

BankFirst, Sioux Falls, South Dakota

First Piedmont Bank, Winder, Georgia

Rumors have been floating around that Sheila Bair let slip to a senator that there could be as many as 500 small banks closed over the next two years. Her spokesman later denied she had ever made a statement that indicated a specific number, so take the rumor for what it may or may not be. At any rate, with this group we’re now at 57 for the year, so if we cut her number in half we still have a long ways to go.

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