Troubles in the banking industry are not over and are just beginning for many regional banks.
While the large banks have access to government loans and private capital, many of the regional banks must deal with the problem of becoming extinct. The latest victim is BankUnited FSB which is the 34th US bank failure this year alone. The total now exceeds the number of bank failures in the previous 2 years combined. BankUnited FSB (BKUNA) was officially closed and seized by the FDIC yesterday.
This is the largest bank failure this year, only surpassed by the failures of IndyMac Bank and Washington Mutual last year. BankUnited was purchased by a combination of different private equity groups.
