Banks still having trouble
Many banks still on FDIC “troubled” list.
“The number of troubled banks in the United States jumped to 702 in the fourth quarter, according to the latest report by the Federal Deposit Insurance Corp.
The FDIC said U.S. banks essentially broke even in the October-December period. They earned $914 million in the quarter, compared with a $37.8 billion loss in the fourth quarter of 2008.
For all of 2009, U.S. banks earned $12.5 billion, up from $4.5 billion in 2008.
Still, the number of banks on the FDIC’s confidential “problem” list increased to 702 from 552 in the third quarter, the most since the height of the savings-and-loan crisis of the early 1990s.”
Clearly, we are not out of the woods yet. Should foreclosures continue to climb, more banks may go on this list.
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