[OPE] The big fish eat up the little fish II

U.S. Bancorp looking at FBOP Corp: report
Reuters Tuesday, 20 Oct 2009
By Sam Mircovich and Edwin Chan

LOS ANGELES (Reuters) - U.S. authorities seized nine failed banks on Friday,
the most in a single day since the financial crisis began and the latest
stark sign that substantial parts of the nation's banking industry are being
crippled by bad loans.

The move brought the total number of failed banks in 2009 to 115 -- their
highest annual level since 1992 -- with analysts expecting more to come.
Among the lenders seized Friday was Los Angeles-based California National
Bank, in what was the fourth-largest U.S. bank failure this year.

(...)

U.S. Bancorp on Friday acquired the nine banks that had been held by FBOP
Corp, picking up $18.4 billion in assets and $15.4 billion of deposits.
(...)

http://www.reuters.com/article/newsOne/idUSTRE59U05420091031?pageNumber=2&virtualBrandChannel=0

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Received on Sat Nov 7 04:30:42 2009