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How I learned to love the economic crisis: 2010 edition
bank failures
Generally you don’t see midweek failures unless everyone’s taking Friday off.
Particulars for the night’s casualty: #27
—Failed bank: LibertyPointe Bank, NY NY
—Regulator: New York State Banking Department
—Acquiring bank: Valley National Bank, Wayne NJ
—Vitals: at 12/31, assets of $209.7 million, deposits of $209.5 million
—Estimated DIF damage: $24.8 million
One interesting sidenote, the bank’s Manhattan branch is across the street from the NY Fed…
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