Pasadena bank declares 5 year loss
This just in from business reporter Ben Baeder:
Pasadena-based East West Bancorp Inc. reported a $26 million loss for the second quarter, the bank's first quarterly loss in at least five years. The bank president is hosting a conference call at 10:30 a.m.
To put the loss in perspective, the bank earned $37 million the last three months of 2007.
I'll go pull my money out right now.
Keep your filthy blog out of my city McLain! I'll do the easy blog posts about Pasadena in this newsgroup.
Is this the same East-West Bank that is the title sponsor of the East-West Bank Classic Tennis Tournament this weekend at the Home Depot Center in Carson? Maybe East-West Bank should keep their eye on their depositor's/investor's money rather than tennis balls.
this is seven banks that have gone under. will the FDIC run out of money