Record number of NC banks in trouble

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Nearly two dozen state-chartered banks in North Carolina are on NC regulators’ list of troubled institutions, believed to be a record.

That figure represents more than one-fourth of North Carolina’s 88 state-chartered banks, according to The Charlotte Observer.

“The tally of 23 troubled banks compares with six about two years ago, said Ray Grace, the NC deputy banking commissioner who heads bank supervision,” the paper reported. “Typically, he said, only two or three are on the list.”

It’s unclear how many of South Carolina’s 49 state-chartered banks are troubled, said Scott Malyerck, the state’s deputy treasurer. The state banking commissioner, Louie Jacobs, couldn’t be reached, according to The Observer.

This year, two banks have failed in North Carolina: regulators closed Cape Fear Bank in Wilmington in April and shuttered the Cooperative Bank, also in Wilmington, last month. Both banks ran into problems as coastal property values dropped and sales fell.

To date, no South Carolina institutions have failed this year. The last South Carolina bank to fail was Columbia-based Victory State Bank in 1999.

Sanford: vacation ‘for the kids’

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Gov. Mark Sanford is coming under more criticism, this time for leaving for a two-week vacation with his family in Europe.

Sanford is under fire politically for revelations that he left South Carolina secretly to continue an affair with an Argentine woman, along with questions about him repeatedly breaking protocol regarding flying first class on overseas state trips.

He said he’d considered canceling the vacation but in the end opted to go ahead.

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