16 institutions — eight banks and eight credit unions — have failed so far this year. 12 banks failed in 2002, at the height of the most recent economic downturn. Experts say this year’s failures will not reach the levels seen during savings and loan crisis in early 1990s. 8 percent of all banks identified as “troubled,” or 700 institutions, have been identified as troubled. Others in the industry see the future for some institutions as bleak, but manageable, as well as bleak.”]
Source: https://www.bankinfosecurity.com/bank-credit-union-failures-most-since-2002-a-938