Another US Bank Collapses Friday
The Silver State Bank of Henderson, Nevada was closed by US regulators Friday, the 11th US bank to collapse this year amid a surge in soured real-estate loans stemming from the worst housing slump since the Depression.
Silver State, with $2 billion in assets and $1.7 billion in deposits, was shut by the Nevada Financial Institutions Division and the Federal Deposit Insurance Corp., the FDIC said Friday.
Shares in Silver State have fallen 97% in the last year.
Silver State, with $2 billion in assets and $1.7 billion in deposits, was shut by the Nevada Financial Institutions Division and the Federal Deposit Insurance Corp., the FDIC said Friday.
Shares in Silver State have fallen 97% in the last year.