An Article I read from: Chris McLaughlin OP; Lakeland, Winter Haven, Tampa Central, and New Tampa.
In his article he states the following:
Last week, regulators closed 4 banks, bringing the number of bank failures to 81 so far this year. The banks which were shut down are Guaranty Financial Group of Austin, Texas, with deposits of $12 billion; CapitalSouth Bank of Birmingham, Alabama, which had $546 million of deposits, First Coweta of Newnan, Georgia, which had $155 million of deposits, and ebank of Georgia, which had deposits of $111 million. Guaranty's failure is the eleventh largest in U.S. history. Amid recession and a rise in delinquent loans, the number of bank failures has been rising, from 3 in 2007 to 25 in 2008, to 81 so far this year.
Richard Bove of Rochdale Securities says another 200 banks could fail in the current banking crisis. "The difficulty at the moment is finding enough healthy banks to buy the failing banks
Wow! Get your Short Sale Listing inventory up! Banks are going to have to accept or suffer the consequences.
Micahel Brenner
Winter Haven FL
www.movingcentralfl.com
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