DENVER (AP) – Banking regulators say five Colorado bank failures this year could cost the nation’s deposit insurance fund slightly more than $1 billion.
Federal Deposit Insurance Corp. spokesman Greg Hernandez says that represents a fifth of the $5 billion in overall losses to the fund from bank failures through July 22.
That $1 billion exceeds the $970 million that three Colorado bank failures in 2009.
Only Georgia has a bigger toll, with 16 failures costing $1.5 billion.
