#BankFailFriday (sm) - Post Mortem: 3 Banks Closed 1/15/2010
On Friday, January 15, 2010, three banks were closed: Town Community Bank and Trust, Antioch, Illinois, St. Stephen State Bank, St. Stephen, Minnesota and Barnes Banking Company, Kaysville, Utah. The total number of closed banks for 2010 is fours.
The three tables below show a few performance metrics for the closed banks and using simple terminology, puts them in perspective:
Each of these banks had sub-standard capital to withstand loan losses. All three were losing money and the Barnes Banking Company was losing a lot of money.
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