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Tom Lindmark
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About a year ago, a company asked me to write a daily blog for them. I told them that I’d never read a blog and had absolutely no idea how to write one but sure, if you want to pay me for it, I’ll give it a shot. It was either my good or bad fortune to start at the beginning of the credit... More
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  • Friday Bank Failures 0 comments
    Jun 27, 2009 8:24 PM

     Working overtime this week, the FDIC shut down four banks. Here are the links:

    MetroPacific Bank, Irvine, California

    Horizon Bank, Pine City, Minnesota

    Neighborhood Community Bank, Newnan, Georgia

    Community Bank of West Georgia, Villa Rica, Georgia

    Do you ever wonder who thinks up the name for these banks. Neighborhood Community Bank, how redundant is that?

    At any rate, that makes 44 banks that tanked so far this year and 8 of them were in Georgia. So the Peach State now has the distinction of being the home to just a shade less than 20% of all bank failures in the country this year.

    One more thing. Did you notice that Neighborhood Community Bank is in Newnan or for you Caddy Shack fans Noonan and of course Newnan or Noonan is in the Peach State and of course Caddy Shack gave us the unforgettable line, "That's a peach, hon." There is definitely blogosphere conspiracy theory material here.

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