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Five more banks fail - 120 for the year

Last updated:

Fri, 06 Nov 2009 16:50:00 +0000

Five banks failed late Friday, bringing the 2009 tally to 120.

The biggest to fall was United Commercial Bank of San Francisco, which had 63 U.S. branches as well as operations in Hong Kong and Shanghai. The bank held deposits totaling $7.5 billion.

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