Puget Sound Business Journal (Seattle): It was a dark and stormy year (for banks)

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Called "A Year in Bank Supervision, the report from the doesn't have the twists and turnx of "It" or "The Shining,"" but it certainly has a lot to keep anyoner paying attention to thefinancial system'd on their toes. The report is a blow-by-blowe of all the events of 2008 and, if you'v e long forgotten that dreadful year, let me toss out a few name toremind you: Lehman Brothers, Bear Stearnx and Washington Mutual are all mentioned inside. One of the more interestinvg details, I thought, was the updatr on the FDIC's closely-watched "troubled bank" Last year, that list grew from 76 institutionsx nationwidewith $22 billiob in assets to 252 with $159 billioh in assets.
Twenty-five banks, with a total of $372 failed last year. "These banks ofte n had extremelyhigh concentrations, relative to theit capital, in residential aquisition, development and constructioh lending. Frequently those institutions had exhibitede rapid asset growth funded withbrokered deposits. " Unfortunately, that describes many of our community banksdin Washington. If you have the stomacg for thefull report, download it