4 More Bank Failures last Night


by John Galt
June 9, 2012 07:40 ET


The FDIC was busy again last night zapping banks in NC, IL, OK, and SC. Even though the troubled regional banks and corrupt megabanks are apparently now exempt from failing the small community banks which have had insane mandatory rules and fees added on to these institutions are, as expected, breaking their backs and enabling larger banks to buy them for a song via the FDIC. CalOkie will have a very interesting chart update with this sudden spate of activity by Monday morning on these pages but in the mean time, here are the links to each bank failure via the FDIC website:


Waccamaw Bank


Farmers’ and Traders’ State Bank

Carolina Federal Savings Bank


First Capital Bank


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