Six US Banks Face Bankruptcy

As an indication that the economy is not heading for a recovery anytime soon, six US banks have been identified as on the verge of bankruptcy. According to the Federal Deposit Insurance Corporation (FDIC), these six banks are Florida Community Bank, the First Regional Bank in Los Angeles, the First National Bank of Georgia, Community Bank and Trust in Georgia, Marshall Bank in Minnesota and American Marine Bank.

Should these 6 banks file for bankruptcy, it would bring the total number of US banks in bankruptcy this year to 15. Last year, 140 banks filed for bankruptcy while in 2008, the figure was a much lower 25.

The FDIC expects 2010 to be the year when a record number of banks would go bankrupt.