One in eight US banks at risk of failing

The number of banks at risk of failing made up nearly 12 percent of all federally insured banks in the final three months of 2010, the highest level in nearly two decades, according to the Associated Press.

“The Federal Deposit Insurance Corp said Wednesday that the number of banks on its confidential “problem” list rose to 884 in the October-December quarter, up from 860 in the previous quarter,” according to the wire service. “Those are banks rated by examiners as having very low capital cushions against risk.”

Twenty-two banks have failed so far this year, including Easley-based CommunitySouth Bank and Trust, and five Palmetto State institutions have failed since 2009.

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