Ameribank Inc - Another Bank Failure Announced (Video)
Author: Rob K. Blake | Date: September 19, 2008 | Filed In: Mortgage News
Ameribank Inc today became the first West Virginia bank shut down by the FDIC. Ameribank depositors in Ohio will now bank with The Citizens Savings Bank and those Ameribank depositors in West Virgina will go to Pioneer Community Bank, Inc.
Ameribank Fails
Ameribank Inc had assets of $115 million and deposits of $102 million, not a big bank by any stretch. In the wake of huge institutions going under, I am almost happy to see a dinky one…(not really). The bank only had three branches in Ohio and five in West Virginia.
The FDIC estimates the hit the insurance fund will take at $42 million. After the hundreds of billions the Treasury has already taken on bailing out mortgage monsters Fannie Mae and Freddie Mac, a few million looks like nothing.
What do the candidates have to say about this crisis …not much!
Here’s a clip anyway….
Good Luck!
Author: Rob K. Blake
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