Bank Failure Friday
Ok, I warned that people should pull any uninsured deposits from Suburban. Guess what? Suburban Federal Savings Bank Failed. But wait … there’s more! So did Ocala National Bank and MagnetBank. Today’s a threefer, and it’s not even 5 o’clock on the west coast. Calculated Risk has posts here and here. Total cost to the FDIC fund today? Over $225 million. I’ll make a new post if there’s more.
