Number of Failed Banks in 2009 Reaches 130, Just a Week Before Private Equity Leaders Forum 2009

Dec. 5, 2009 - PRLog -- 130 is the number of banks the Federal Deposit Insurance Corp (FDIC) has closed in 2009, including Friday's announcement that AmTrust Bank, based in Cleveland, was closed along with five others, just a week before Private Equity Leaders Forum 2009, "Buying a Failed Bank: Opportunities and Pitfalls" (http://www.PrivateEquityLeadersForum.com), December 11th, DLA Piper, New York City, forum where private equity executives will be able to ask their most pressing questions to our experienced and distinguished lineup of speakers and panelists, on potentially buying a financial institution.

The New York Times reported that Federal Deposit Insurance Corporation had taken over AmTrust Bank, with about $12 billion in assets and $8 billion in deposits. "Its failure is expected to cost the federal deposit insurance fund about $2 billion. The F.D.I.C. also seized three Georgia banks: Buckhead Community Bank in Atlanta, First Security National Bank in Norcross and Tattnall Bank of Reidsville. Benchmark Bank, based in Aurora, Ill., also was closed, as was Greater Atlantic Bank of Reston, Va."

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