The failure of five banks in Texas,...
The failure of five banks in Texas, Nebraska and Minnesota boosted the number of bank closings to a post-Depression record for the fourth consecutive year. The Federal Deposit Insurance Corp., which insures deposits up to $100,000 in 14,000 banks nationwide, closed Security State Bank in Oxford, Neb.; Clay County State Bank in Dilworth, Minn., and three affiliated banks in Texas--Western Bank-Westheimer, Western Bank-North Wilcrest and Western Bank-Westwood. The latest closings push this year’s total to 141, topping last year’s record of 138.
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