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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