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Worst Housing Crisis Since the Great Depression

Sept. 5 (Bloomberg) — Silver State Bank of Henderson, Nevada was closed by U.S. regulators today, the 11th bank to collapse this year amid a surge in soured real-estate loans stemming from the worst housing slump since the Depression.

Silver State, with $2 billion in assets and $1.7 billion in deposits, was shut by the Nevada Financial Institutions Division and the Federal Deposit Insurance Corp., the FDIC said today in a statement.