Two more banks in the US were closed during the last weekend, increasing the number of banks that were closed since the beginning of the year to 22.
Carson River Community Bank from Nevada held 51.5 million dollars in assets and 50 million dollars in deposits, while Rainier Pacific Bank from Washington held 717.8 million dollars in assets and 446.2 million dollars in deposits. The closing of River bank will cost to the Deposit Insurance Fund 7.9 million dollar, while closing Rainier bank will cost 95.2 million dollar to the fund.
According to estimations by fund officials, closing bank rate is expected to overcome in the coming months. The “problematic” banks list of the insurance fund in the fourth quarter climbed to 702 from 552 in the previous quarter, although the industry recorded a small profit.
The banks earned 914 million dollars in the fourth quarter, compared to the loss of 37.8 billion dollars during the same period last year, which is considered the climax of the crisis. Still, nearly one in three banks has reported a loss last quarter.
During the year of 2009- 140 banks were closed, the highest number since 1992. These closers have cost the Deposit Insurance Fund more than 30 billion dollars. In comparison, during 2008- 25 banks were closed, while during 2007 only 3 banks were closed. The Deposit Insurance Fund estimates that the cost of closing the banks will climb to 100 billion dollars during the next four years.
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