Third-Quarter Banking Report
Nine banks failed in the third quarter, the highest quarterly total in 15 years
- 9: Number of banks that failed in the third quarter (highest quarterly total in 15 years)
- 171: Number of banks on the FDIC's "Problem List" as of the third quarter (the highest since 1995, when there were 193 on the list)
- 117: Number of banks on the FDIC's "Problem List" as of the second quarter
- $115.6 billion: Assets of the "problem" institutions in the third quarter (the first time since 1994 that assets of "problem" banks have exceeded $100 billion)
- $78.3 billion: Assets of the "problem" institutions in the second quarter
- $1.7 billion: Third-quarter net income
- 94 percent: Decline in net income from the third quarter of 2007 (when net income was $27 billion)
Source: FDIC
Reader Comments
Economic Shell Shock!!!
It never ceases to amaze me that the Monday morning business news seems to report as though the previous weeks were a surprise and that factors will somehow magically be repaired over a weekend and everyone will live in harmony forever... Not likely!!! America is suffering from an economic shell shock from the crisis of the day reporting and uncertainty on which way to turn. How can any person expect great news when our banks could close at any time, 401Ks are questionable, our food quality is questionable, our jobs are questionable, our security is questionable and our leadership is non-existent??? So the third quarter banking report isn't very rosy??? Well neither is any other economic news so instead of creating the doom and gloom headline of the day why not just simply say "DITTO!!!"
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