Growth opportunity amid carnage
The banking crisis is proving to be an opportunity for some. Since the beginning of 2008, 89 banks have failed. You can bet a lot more will fail over the next year. For some banks, this is a terrific opportunity.
Fortune notes that six regional banks have bought at least two failed banks from the FDIC. The most active buyer so far has been Zions Bancorp of Salt Lake City. It has acquired four banks from the FDIC. U.S. Bancorp, of Minneapolis, bought the remains of troubled thrifts Downey Savings. It may be in the market for more failed institutions. BB&T may be in the hunt, and don't forget about private equity players. If you can afford it, this is a good way to grow.
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