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02/28/10
Arizona banking industry continues to struggle
Filed under: General, Finance
Posted by: Lillian Wong @ 4:01 pm

Economic recovery is a ways off for Arizona’s beleaguered banking industry. Stung by more bad loans, Arizona-based banks continue to suffer from rising delinquencies, declining capital and poor earnings.

About 84 percent of the state’s mostly small banks ended 2009 with a loss, up from 74 percent in 2008 and 39 percent in 2007, according to the latest progress report issued this week by the Federal Deposit Insurance Corp.  more…



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