Bank Hell: Now Serving Number 106

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Here’s a stat that doesn’t get a ton of attention but continues to increase…

From the AFP:

WASHINGTON — The number of failed regional US banks exceeded 100, after authorities announced the collapse of seven more financial institutions around the country.

A total of 106 regional banks failed in the United States this year, a figure not seen since 1992.

Partners Bank of Naples, Florida, which had capital of 65.5 million dollars, became the 100th bank shut down in the country since the beginning of the year, the Federal Deposit Insurance Corporation announced.

No wonder they’re not lending…many of ’em can’t.

Party On, Garth.

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