FDIC: Number of troubled banks rises to 416

The Federal Deposit Insurance Corp. said Thursday that more lenders ran into financial trouble during the second quarter as the recession continued to saddle banks with soured loans.

The FDIC said that the number of troubled banks rose to 416 at the end of June from 305 at the end of March. This is the largest number of banks on its "problem list" since June 30, 1994, when 434 banks were on the list.

Assets at troubled banks totaled $299.8 billion, the highest level since Dec. 31, 1993, the agency said.

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- Posted: 2009-08-27 10:41:33

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