The bigger story is why the FDIC is not out in front of this failing bank and closing it down without the state of Alabama jumping in. After all, federal money/losses are at stake. If this bank goes down, and it will, there should be increased scrutiny of the FDIC and it's failings.
Okay same thing with Corus and Guarantee bank as well yet the fdic has not done anything.All these banks have been insolvent yet regulators have done nothing. And there is probably more than just these big ones that we know of - like key, hban and fitb. All these are hurting huge but the fed keeps shuffling them money on the low down so we are all in the blue on whats going on.