Increase in the Number of Problem Banks to be Discussed at Private Equity Leaders Forum 2009

New York, NY, November 27, 2009 --(PR.com)-- The increase in the number of "problem banks", those that run the biggest risk of collapse, increased to 552 in the third quarter, the FDIC reported. The fund had a negative balance of $8.2 billion at the end of the third quarter, first time into the red since the fallout from the savings-and-loan crisis of the early 1990s as the pace of bank failures accelerated. Private Equity Leaders Forum 2009, "Buying a Failed Bank: Opportunities and Pitfalls" (http://www.PrivateEquityLeadersForum.com), December 11th, DLA Piper, New York City, will be the forum where private equity and bank executives will debate the significance of these announcements, in the context of exploring buying a failed institution from the FDIC.

The New York Times reported that the number of bank failures will probably keep climbing. "So far, the F.D.I.C. has seized and sold 124 banks in 2009, and analysts expect hundreds more to collapse in the months ahead. That has put significant pressure on the F.D.I.C. fund, which posted a negative balance for the first time since 1992 when regulators cleaned up the carnage from hundreds of failed thrifts and other commercial lenders."

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