TWST: Does that mean we're going to see more banks fail?

Mr. Timmons: Absolutely. Just to give you one example, a company that I cover, PacWest (PACW), filed an S-3 the other day and I think that's an indication of their intention to participate in further FDIC-assisted transactions within their market. I think California remains one of the more challenged banking markets; it probably will remain that way for the next couple of years. So I think clearly there are more failed institutions to come.

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