FDIC: Troubled Banks Rise To 117, Most in Five Years

FDIC: Troubled Banks Rise To 117, Most in Five Years

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The number of problem banks on a regulatory watch list increased to 117 by the end of the second quarter from 90 at the end of the first quarter, the Federal Deposit Insurance Corp said.

The combined assets of the problem banks increased to $78 billion from $26 billion, the agency said.

The housing slump and worsening economic conditions forced U.S. banks to set aside $50.2 billion in loan loss provisions during the second quarter, the FDIC said in its quarterly industry update.

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And as we all know, IndyMac wasn't even on the original watchlist of 90. This is bad news for banks seeing as we are not even half way through this crisis.

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