by Bill McBride on 5/01/2009 10:27:00 PM
Friday, May 01, 2009
[Silverton Bank's failure] will ripple through the banking industry, which some industry experts said will have catastrophic consequences for banks across the Sun Belt as it impacts potentially hundreds of bank balance sheets.Many small banks invested in Silverton, or Silverton sold them loan participation in mostly Construction & Development loans. The losses could lead to other bank failures.
Posted by Bill McBride on 5/01/2009 10:27:00 PM