TITLE

Sector suffers through series of failures

AUTHOR(S)
EDWARDS, JOHN G.
PUB. DATE
October 2008
SOURCE
Las Vegas Business Press (10712186);10/27/2008, Vol. 25 Issue 43, p7
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the series of failures that have hit the banking sector in Nevada. The past four months saw 15 banks that have failed around the country including Nevada's Silver State Bank and First National Bank. In the second quarter of 2008, the Federal Deposit Insurance Corp. (FDIC) reported that 117 banks and thrifts were in trouble, the highest since 2003. This prompted the Treasury Department to buy ownership stakes in financially weak commercial banks to strengthen balance sheets and persuade banks to start making loans again.
ACCESSION #
35377764

 

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