It’s become something of a weekly tradition: The FDIC moves in late Friday night to shut down and break up failing banks. Last night, it was four new failures, pushing the 2010 list of failures to 90. (via Bloomberg Businessweek)
$1.13 billion in total assets were seized by the feds overnight. The closed banks include Home National Bank of Oklahoma, Bay National Bank of Baltimore, Ideal Federal Savings Bank of Baltimore and USA Bank of Port Chester, New York.
The banks were broken up and handed over to other banks that will continue operations.
Thus far in the recession, the hardest-hit states (in terms of banks at least) are Georgia, Illinois and Florida. In each of these states, more than 27 banks have failed since the beginning of 2009.