Florida`s Freedom Bank - Another Victim

As reported by MarketWatch.com - "FDIC takes over Florida's Freedom Bank":

Bradenton, Fla. - based Freedom Bank was closed Friday, marking the 17th bank failure so far this year amid the ongoing credit crisis. The Federal Deposit Insurance Corporation said in a statement that as of Oct. 17, Freedom Bank had $287 million in total assets and $254 million in total deposits. Freedom Bank's four branches will open Monday as branches of Grand Rapids, Mich. - based Fifth Third Bank (FITB), which has assumed Freedom Bank's deposits, the FDIC said.

Another bank, another victim. The economic crisis continues its brisk march down the road nobody ever wanted to travel.