Home » NEWS » Banking & Finance » FDIC: Many small banks at risk

FDIC: Many small banks at risk

Even as the nation’s biggest banks have rapidly recovered, hundreds of small lenders remain at risk, according to the government’s latest report card on the financial industry, the New York Times reports.

The Federal Deposit Insurance Commission said Tuesday that its list of so-called “problem banks” – those with the highest risk of failing – had grown to 860 from 829, or nearly one in nine lenders. Most are small community banks, saddled by bad real estate loans.

The agency has shuttered more than 149 banks in 2010, with about 41 closing in the third quarter.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Amy McCullough

Leave a Reply

Your email address will not be published. Required fields are marked *

*