bankunited fails: Largest Bank failure of the year today
- 05/22/09 03:43 AM
It was the 34th bank failure of the year but the LARGEST one so far this year. Today BankUnited has been seized. BankUnited Federal Savings Bank had $13 billion in assets as of May 2. BankUnited was based in Florida and is Florida's largest bank. Under the FDIC insurance program, deposits are covered up to $250,000. This bank failure is expected to cost the already depleted fund $4.9 billion. My longtime blog readers may remember I wrote a previous post about this topic and I cited that the FDIC Fund only had $18.9 billion at the end of 2008. After the … (13 comments)
It was the 34th bank failure of the year but the LARGEST one so far this year. Today BankUnited has been seized. BankUnited Federal Savings Bank had $13 billion in assets as of May 2. BankUnited was based in Florida and is Florida's largest bank.
;)
;)
;)
