Closings

Florida bank failures account for 10% of FDIC losses in 2010: Condo Vultures 

Bank failures in Florida have cost the Federal Deposit Insurance Corp. the most money of any state in 2010, according a report by Condo Vultures released Tuesday. The real estate consultancy firm said the 29 bank failures have cost about $2.1 billion in losses to the FDIC’s deposit insurance fund, or about 10% of the $22.2 billion in losses so far in 2010. Since 2008, when the housing bubble burst, 45 Floridian banking institutions have closed for a total loss of $9.7 billion, or 14% of the $69.1 billion total write-off nationwide since that year.