Another bank has just failed.
This marks the 6th bank this year to fail in the United States, but I’m sure the system is “just fine”.
BREAKING | Citizens Bank has reportedly been closed by regulators. This in the 6th US bank failure this year. pic.twitter.com/lkzNWjwgoC
— READY ALERTS (@ReadyAlerts) November 3, 2023
They sure do love making these announcements late on a Friday:
NEW: Bank failure Fridays are back! 😮
Citizens Bank in Sac City, Iowa, was shuttered yesterday due to substantial hidden loan losses, forcing FDIC receivership.
Is this a signal of renewed vulnerability among regional banks? 😱 pic.twitter.com/BJoobNTNCw
— Bitcoin News (@BitcoinNewsCom) November 4, 2023
Citizens Bank of Iowa had $66 million in assets:
Another Bank Failure…
Citizens Bank Iowa
— Tony Kambeitz (@Kambeitz9) November 4, 2023