U.S. financial regulators on Friday shut down another bank, adding the number of bank failures to 126 so far this year, which reflects the hardship of financial sector during the worst recession since 1930s.
The Federal Deposit Insurance Corp., a federal banking regulator, took over Haven Trust Bank Florida of Ponte Vedra Beach, Fla., with 148.6 million dollars in assets and 133.6 million dollars in deposits.
The failure of Haven Trust Bank Florida is expected to cost the deposit insurance fund 31.9 million dollars.
With 126 closures nationwide so far this year, the pace of bank failures exceeds that of 2009, which saw 140 shutdowns. By this time last year, regulators had closed 95 banks.
Last year was the highest annual tally since 1992, at the height of the savings and loan crisis.
The number of banks on the FDIC's confidential "problem" list jumped to 829 in the second quarter from 775 in the previous quarter. Historic data showed that about 13 percent of the problem banks ended up bankrupt.
Analysts said that the increasing bank failures showed that the U.S. financial system are still burdened by the toxic assets two years after the financial crisis burst.
According to U.S. Treasury Secretary Timothy Geithner, although the recession officially ended in June 2009, the U.S. economy remains "very tough".
The Federal Deposit Insurance Corp., a federal banking regulator, took over Haven Trust Bank Florida of Ponte Vedra Beach, Fla., with 148.6 million dollars in assets and 133.6 million dollars in deposits.
The failure of Haven Trust Bank Florida is expected to cost the deposit insurance fund 31.9 million dollars.
With 126 closures nationwide so far this year, the pace of bank failures exceeds that of 2009, which saw 140 shutdowns. By this time last year, regulators had closed 95 banks.
Last year was the highest annual tally since 1992, at the height of the savings and loan crisis.
The number of banks on the FDIC's confidential "problem" list jumped to 829 in the second quarter from 775 in the previous quarter. Historic data showed that about 13 percent of the problem banks ended up bankrupt.
Analysts said that the increasing bank failures showed that the U.S. financial system are still burdened by the toxic assets two years after the financial crisis burst.
According to U.S. Treasury Secretary Timothy Geithner, although the recession officially ended in June 2009, the U.S. economy remains "very tough".
