FDIC Chair: More Problem Banks
FDIC Chairwoman Sheila Bair said today that the number of "problem" banks and thrifts in the third quarter rose from 117 at the end of the second quarter of this year to 171 at the end of the third quarter, the highest level since 1995.
"Community banks -- those with total assets of under $1 billion -- are beginning to exhibit stresses similar to those facing the industry as a whole," the FDIC said. "However, capital levels and reliance on retail deposits remain higher at these banks than the industry average."
More people are putting their money in banks, the FDIC reported -- no surprise, that. Estimated insured deposits were up by 1.8 percent in the third quarter and 7.1 percent over the past four quarters, the agency said.
-- Frank Ahrens
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