Bank Failures in 2008 - The List Grows by Three

As reported by CNNMoney.com - "Three banks in California, Georgia fail":

Three more banks - two in California and one in Georgia - failed Friday, bringing to 22 the number of institutions forced to close in the wake of the financial crisis.

The Federal Deposit Insurance Corp. said the banking operations of Downey Savings and Loan Association of Newport Beach, Calif., and PFF Bank & Trust of Downey, Calif., were acquired by U.S. Bank (USB, Fortune 500) of Minneapolis.

... Earlier, Loganville, Ga.- based Community Bank was shuttered by the Georgia Department of Banking and Finance. The FDIC took over the assets and Tappahannock, Va.-based Bank of Essex will assume all Community Bank's deposits.

See the FDIC's list of Bank failures for 2008:
http://www.propertyqwest.com/blog/2008/11/bank-failures-of-2008-fdic-list-of.html

Bank Failures of 2008 - FDIC List of Failed Banks

As reported by the FDIC (bank failures of 2008). 19 and counting. Looking to modify your loan? Wondering who owns your loan? Wondering where you should make your next mortgage loan payment? Follow the links below to learn more about each failed bank and their plight.

1. PFF Bank and Trust, Pomona, CA
2. Downey Savings and Loan, Newport Beach, CA
3. The Community Bank, Loganville, GA
4. Security Pacific Bank, Los Angeles, CA
5. Franklin Bank, SSB, Houston, TX
6. Freedom Bank, Bradenton, FL
7. Alpha Bank & Trust, Alpharetta, GA
8. Meridian Bank, Eldred, IL
9. Main Street Bank, Northville, MI
10. Washington Mutual Bank, Henderson, NV and Washington Mutual Bank FSB, Park City, UT
11. Ameribank, Northfork, WV
12. Silver State Bank, Henderson, NV En Espanol
13. Integrity Bank, Alpharetta, GA
14. The Columbian Bank and Trust, Topeka, KS
15. First Priority Bank, Bradenton, FL
16. First Heritage Bank, NA, Newport Beach, CA
17. First National Bank of Nevada, Reno, NV
18. IndyMac Bank, Pasadena, CA
19. First Integrity Bank, NA, Staples, MN
20. ANB Financial, NA, Bentonville, AR
21. Hume Bank, Hume, MO
22. Douglass National Bank, Kansas City, MO

Bank failure after bank failure! When will they stop? How many more will fall victim? The economic crisis is ugly. Is it getting uglier? The money trees continue to shake into oblivion.

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.