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FDIC Shuts Down 2 LA Banks; 143 Failures In ’10

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LOS ANGELES (CBS/AP) — Bank closings for the year have hit 143 — two more than the number of U.S. banks that failed in all of 2009 — with regulators shutting down one bank in the San Fernando Valley and another one in Westminster.

The FDIC seized Western Commercial Bank in Woodland Hills, with $98.6 million in assets, and First Vietnamese American Bank in Westminster, with assets of $48 million.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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