Thursday, Mar 01, 2007
It has begun: ~9,000 banks went under in the 1930s Great Depression
Herald Tribune: First bank failure in years happens in Pittsburgh
The streak is over.
After nearly 21/2 years without a bank failure, a small Pennsylvania bank collapsed this month.
Metropolitan Savings Bank of Pittsburgh was closed by its state banking department. About $12 million in deposits were assumed by Allegheny Valley Bank of Pittsburgh.
Posted by lvmreader @ 08:11 PM (203 views) Add Comment
1 Comment
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1. dohousescrashinthewoods said...
A one off, or an indicator of a flood? Let's Keep our eyes open.
This was interesting, I know some here have talked about the equivalent protection here:
"Metropolitan had about $1.2 million in deposits in 70 accounts that could exceed the federal insurance limit."