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Article: Safety Zones Disappearing In Downturn.(National/Global)(Industry overview)
- Article from:
- American Banker
- Article date:
- October 27, 2009
- Author:
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Byline: Paul Davis
More than a year into the financial crisis, the carnage caused by high unemployment has expanded into states whose economic health had been taken for granted. Banks once thought to be relatively immune from the woes of California, Florida and Nevada are finding there's no place to hide.
In North Carolina, for example, banks as big as BB&T Corp. in Winston-Salem and as small as Yadkin Valley Financial Corp. in Elkinare now expressing concern about credit quality, particularly when it comes to real estate.
It wasn't supposed to happen there. The state missed out on the rapid home-price appreciation witnessed on the coasts, ...
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