Bank Failure Friday - 8 to the plank!

Like Happy Hour, who can start the weekend without a few bank failures? This week's 2010 demise lovelies with their costs to the FDIC deposit insurance fund are:

  1. Community National Bank at Bartow, Bartow, FL: $10.3 million
  2. Independent National Bank, Ocala, FL: $23.2 million
  3. Imperial Savings & Loan Association, Martinsville , VA: $3.5 million
  4. ShoreBank, Chicago, IL: $367.7 million
  5. Pacific State Bank, Stockton, CA: $32.6 million
  6. Butte Community Bank, Chico, CA: $17.4 million
  7. Los Padres Bank, Solvang, California: $8.7 million
  8. Sonoma Valley Bank, Sonoma, CA: $10.1 million

That's the 8th this year for California.

Shorebank specialized in low income loans and had strong ties to Washington, it was heavily political.

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