This week’s update on bank failures starts in Kentucky and Indiana, where two were shut down. Irwin Union Bank of Louisville, Kent. and Irwin Union Bank & Trust of Columbus, Ind. were closed, then taken over by First Financial Bank of Hamilton, Ohio. The cost to the FDIC is estimated to be $850 million. The closure of the two banks brings the year-to-date total of bank failures to 94.
If there are further bank closures today, I’ll update with new posts.