Reader reaction to Reuters news
Do the math
US regulators seize two more banks
The FDIC said the cost of the transactions to its insurance fund is estimated to be $862 million, adding that the two failed banks represent just 0.3 percent of $13.4 trillion in total industry assets at about 8,500 FDIC-insured institutions.
The author claims that First National had total assets of $3.4 billion while First Heritage had assets of $254 million.
The author also claims that the two failed banks represent just 0.3 percent of the $13.4 trillion in total industry assets at FDIC-insured institutions.
Can you do simple math?
We corrected the figure to .03 percent: GBU Editor