Bank failures in Oil Patch states pushed...
Bank failures in Oil Patch states pushed closings nationwide to a post-Depression record in 1987, and FDIC Chairman L. William Seidman said that he expects only a small improvement this year. The Federal Deposit Insurance Corp. reported 184 bank closings among the commercial banks it insured last year, with 95 in Texas, Oklahoma and Louisiana alone. “Our current hope would be that next year would be a little better,” Seidman said.
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