It’s Friday afternoon, the traditional time for the FDIC to step in and shut down faltering banks. So far this afternoon (4 p.m) there’s been one bank closure for the day, making it 82 for the year. I’ll update with a another post if others are shut down today. Here are the details on No. 82:
Bradford Bank of Baltimore shut down and then taken over by Manufacturers and Traders Trust Company of Buffalo, N.Y. Cost to the FDIC: $97 million.