FDIC bank closures - and they're off!

The FDIC announced the closing of three banks this week, raising the total this year to 14.  While the banks are located in Georgia and Illnois, they are of the so-called "community bank" family.  They're banks that, well, get their money from folks in their operating neighborhood and lend it likewise.

Commercial loans are the bane of community banks.  A problem with a large loan or one given to a start-up business is quick to have an impact on the bank's financial operations.

Read the full report from the New York Times, Regulators Close 3 Failed Banks in Georgia and Illinois.

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