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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.


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