Sat
Jul 30 2011
06:21 am

As of July 30, 2011, 61 banks have failed this year in the U.S. Thirty-nine banks have failed since my last report in February. The trend for bank failures continues to decline. At the end of July, 2010, 108 banks had closed in that year.

There has still been no Tennessee bank to fail in 2011, 2010 or 2009. Georgia continues to be the 2011 leader in bank closures with 16 bank failures so far. Florida, last years leader in bank failures, has taken over California's second place spot with 9 bank failures in 2011. Colorado and Illinois are tied for third with five bank failures each in 2011.

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Tamara Shepherd's picture

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While doing some grocery shopping at the Kroger on Clinton Highway yesterday, I was very surprised to notice that the ORNL Federal Credit Union branch located in the store had a large dry erase board set up in front of the teller line promoting 100% mortgage financing.

I had thought ORNL's lending policies were more conservative than that, so I was a little concerned to learn otherwise.

I had to step into the branch manager's office and tell him so.

But you know me...

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