Bank Failure List
Bank Failures in the United States
.
.
This is an continually updated list of Bank Failures in the United
States. 21 banks have failed in 2009.
25 Banks failed in 2008.
Click here
to see the total exposure to the FDIC.
This data is
being gathered determine the economic health of the banking
industry. The US government has been busy shoring up the
country's financial system to prevent a total collapse. 2008
was a disastrous year for the US banking system and the FDIC.
The following bank failures were taken over, repackaged and sold by
the FDIC. The total cost to the FDIC has not been reported as of
yet. The FDIC does not receive monies from the federal government.
See more economic data on
http://business.boomja.com.
2009 Bank Failures
4 banks failed in
March 2009
25 banks failed
in 2009
(25 Banks have failed in 2008)
| Great Basin
Bank of Nevada |
Elko, NE |
4/17/2009 |
| Deposits: $221.4 Million |
Assets: 270.9
Million |
FDIC exposure
$42 Million |
| Notes:
FDIC entered into a purchase and assumption agreement with
Nevada State Bank, Las Vegas, Nevada, to assume all of the
deposits of Great Basin Bank of Nevada. Nevada State Bank
agreed to purchase approximately $252.3 million of assets.
The FDIC and Nevada State Bank entered into a loss-share
transaction on approximately $143.4 million of Great Basin
Bank's assets. |
|
American Sterling Bank |
Sugar Creek, MO |
4/17/2009 |
| Deposits: $171.9
Million |
Assets: $181
Million |
FDIC exposure $42 Million |
| Notes:
FDIC entered into a purchase and assumption agreement with
Metcalf Bank, Lee's Summit, Missouri, to assume all of the
deposits of American Sterling Bank. Metcalf also agreed to
purchase approximately $173.6 million in assets. |
|
New Frontier Bank |
Greeley, CO |
4/10/2009 |
|
Deposits: $2 Billion |
Assets: $1.5 Billion |
FDIC exposure $678 Million |
|
Notes:
FDIC created the Deposit Insurance National Bank of Greeley
(DINB), which will remain open for approximately 30 days to
allow depositors time to open accounts at other insured
institutions. The FDIC will mail checks at the end of the
transition period to the address of record for depositors
who have not closed or transferred their accounts during the
transition period. |
|
Cape Fear Bank |
Wilmington, NC |
4/10/2009 |
| Deposits: $403
Million |
Assets: $492
Million |
FDIC exposure
$131 Million |
| Notes:
FDIC entered into a purchase and assumption agreement with
First Federal Savings and Loan Association of Charleston
(First Federal), Charleston, South Carolina, to assume all
of the deposits of Cape Fear Bank.The FDIC and First Federal
entered into a loss-share transaction on approximately $395
million of Cape Fear Bank's assets. First Federal will share
with the FDIC in the losses on the asset pools covered under
the loss-share agreement. First Federal agreed to purchase
approximately $468 million in assets |
5 banks failed in
March 2009
|
Omni National Bank |
Atlanta, GA |
03/27/2009 |
|
Deposits:
$796.8
million |
Assets:
$956.0
million |
FDIC Exposure:
$290 million |
Notes:
FDIC entered into an agreement with SunTrust Bank, Atlanta,
Georgia, to act as paying agent for the insured deposits of
Omni National Bank. The FDIC entered into the agreement with
SunTrust to avoid the inconvenience and disruption of
customers receiving checks for their insured deposits. This
arrangement also allows for uninterrupted direct deposits,
including Social Security payments, to and automated
payments from customers' accounts through April 27. In
addition, the transaction allows Omni National customers,
particularly in Chicago, Dallas and Houston, time to find
another institution in which to do business. There were
approximately $2.0 million in uninsured deposits that
potentially exceeded the insurance limits. The FDIC will pay
the $320.1 million in brokered deposits directly to the
brokers for the amount of their insured funds.
|
| Teambank, National Association |
Paola,
KS |
03/202009 |
| Deposits:
$492.8 million |
Assets:
$669.8 million |
FDIC Exposure:
$98 million |
| Notes: FDIC
entered into a purchase and assumption agreement with Great
Southern Bank, Springfield, Missouri, to assume all of the
deposits of Teambank. Great Southern will assume $474
million in deposits and the FDIC will pay out $18.8 million
directly to the broker. In addition to assuming all of the
deposits of the failed bank, Great Southern Bank agreed to
purchase approximately $656.5 million in assets at a
discount of $100 million, and pay a 1 percent premium on
deposits.
The FDIC will share 80/20 percent in the losses with Great
Southern Bank on approximately $450 million in assets
covered under the agreement. |
|
Colorado National Bank |
Colorado Springs, Co |
03/20/2009 |
|
Deposits:
$82.7 million |
Assets:
$123.5 million |
FDIC Exposure:
$9 million |
|
Notes: FDIC entered into a purchase and assumption agreement
with Herring Bank, Amarillo, Texas, to assume all of the
deposits of Colorado National. Herring Bank agreed to
purchase approximately $117.3 million in assets at a
discount of $4.2 million, and pay a discount of 1.27%
percent on deposits. The FDIC will share 80/20 percent in
the losses with Herring Bank on approximately $62 million in
assets covered under the agreement. |
| FirstCity
Bank |
Stockbridge,
GA |
3/20/2009 |
| Deposits:
$278
Million |
Assets: $297
million |
FDIC Exposure:
$100 million |
| Notes:
The Federal Deposit Insurance
Corporation (FDIC) approved the payout of the insured
deposits of FirstCity Bank, Stockbridge, Georgia.
The bank was closed today by the Georgia Department
of Banking and Finance, which appointed the FDIC as
receiver. |
|
Freedom Bank of Georgia |
Commerce, GA |
3/6/2009 |
|
Deposits:
$161
Million |
Assets:
$173 Million |
FDIC Exposure: $36.2
million |
|
Notes:
FDIC entered into a purchase and assumption agreement with
Northeast Georgia Bank, Lavonia, Georgia, to assume all of
the deposits of Freedom Bank of Georgia. Northeast Georgia
Bank will share in any losses on approximately $96.5 million
in assets covered under the agreement. Bank agreed to
purchase approximately $167 million in assets at a discount
of $13.65 million. |
10 banks failed in
February 2009
| Security
Savings Bank |
Henderson, NE |
2/27/2009 |
| Deposits:
$175.2
million |
Assets:
$238.3 million |
FDIC Exposure:
$59.1
million |
| Notes: Bank of
Nevada did not pay a premium to acquire the deposits of
Security Savings Bank. Bank of Nevada, Las Vegas, Nevada
Assumes All of the Deposits of Security Savings Bank,
Henderson, Nevada.
Bank of Nevada agreed to purchase approximately $111.3
million in assets |
|
Heritage Community Bank |
Glenwood, IL |
2/27/2009 |
|
Deposits:
$218.6 million |
Assets:
$232.9 million |
FDIC Exposure:
$41.6
million |
|
Notes:
FDIC and MB Financial Bank entered into a loss-share
transaction. MB Financial Bank will share in the losses on
approximately $181 million in assets covered under the
agreement. |
| Silver Falls
Bank |
Silverton, OR |
2/20/2009 |
| Deposits:
$116.3 million |
Assets:
$131.4 million |
FDIC Exposure:
$50 million |
| Notes:
FDIC entered into a purchase and assumption agreement with
Citizens Bank, Corvallis, Oregon, to assume all of the
deposits of Silver Falls Bank. Bank agreed to purchase
approximately $13 million in assets comprised of cash, cash
equivalents, securities, overdraft loans, and deposit
secured loans. The FDIC will retain any remaining assets for
later disposition. |
|
Pinnacle Bank |
Beaverton, OR |
2/13/2009 |
|
Deposits:
$64 million |
Assets:
$73 million |
FDIC Exposure:
$12.1 million |
|
Notes:
FDIC entered into a purchase and assumption agreement with
Washington Trust Bank, Spokane, Washington, to assume all of
the deposits of Pinnacle Bank. Washington Trust Bank agreed
to purchase approximately $72 million in assets at a
discount of $7.6 million. Washington Trust Bank will share
in the losses on approximately $66 million in assets covered
under the agreement. |
| Corn Belt
Bank and Trust Company |
Pittsfield,
IL |
2/132009 |
| Deposits:
$234.4 million |
Assets:
$271.8 million |
FDIC Exposure:
$100 million |
| Notes:
FDIC entered into a purchase and assumption agreement with
The Carlinville National Bank, Carlinville, Illinois, to
assume all of the deposits of Corn Belt Bank and Trust
Company. The Carlinville National Bank agreed to purchase
approximately $60.7 million in assets. The Carlinville
National Bank will not assume $92 million in brokered
deposits held by Corn Belt Bank and Trust Company. The
Carlinville National Bank will pay the FDIC a premium of
1.75 percent. |
|
Riverside Bank of the Gulf Coast |
Cape Coral, FL |
2/13/2009 |
|
Deposits:
$424 million |
Assets:
$539 million |
FDIC Exposure:
$201.5 million |
|
Notes:
TIB Bank agreed to pay the FDIC a premium of 1.3 percent.
TIB Bank will not assume $142.6 million in brokered deposits
held by Riverside Bank. In addition to assuming all of the
deposits of Riverside Bank, TIB Bank agreed to purchase
approximately $125 million in assets, comprised mainly of
cash, cash equivalents and marketable securities |
| Sherman
County Bank |
Wood River,
NE |
2/13/2009 |
| Deposits:
$85.1 million |
Assets:
$129.8 million |
FDIC Exposure:
$28.0 million |
| Notes: FDIC
entered into a purchase and assumption agreement with
Heritage Bank, Wood River, Nebraska, to assume all of the
deposits of Sherman County Bank.
Heritage Bank agreed to purchase approximately $21.8 million
in assets, comprised mainly of cash, cash equivalents and
marketable securities. |
|
County Bank |
Merced, CA |
2/6/2009 |
|
Deposits:
$1.3 billion |
Assets:
$1.7 billion |
FDIC Exposure:
$135 million |
|
Notes: FDIC entered into a purchase and assumption agreement
with Westamerica Bank, San Rafael, California, to assume all
of the deposits of County Bank.
In addition to assuming all of the failed bank's deposits,
including those from brokers, Westamerica Bank agreed to
purchase all of County Bank's assets. |
| Alliance Bank |
Culver City,
CA |
2/6/2009 |
| Deposits:
$951 Million |
Assets: $1.14
billion |
FDIC Exposure:
$206.0 million |
| Notes:
California Bank & Trust agreed to purchase approximately
$1.12 billion in assets at a discount of $9.9 million. The
FDIC will retain the remaining assets for later disposition. |
|
FirstBank Financial Services |
McDonough, GA |
2/6/2009 |
|
Deposits:
$279
Million |
Assets:
$337 Million |
FDIC Exposure: $111 million |
|
Notes: AFDIC entered into a purchase and assumption
agreement with Regions Bank, Birmingham, Alabama, to assume
all of the deposits of FirstBank Financial Services.
Regions agreed to purchase approximately $17 million in
assets. |
6
banks failed in January 2009
| Ocala
National Bank |
Ocala, FL |
1/30/2009 |
| Deposits:
$205.2 Million |
Assets: $223.5
Million |
FDIC Exposure:
$99.6 million |
| Notes: The FDIC
entered into a purchase and assumption agreement with
CenterState Bank of Florida, Winter Haven, Florida, to
assume all of the deposits of the Ocala National Bank
for a premium of 1.7 percent. CenterState agreed to purchase
approximately $23.5 million in assets. |
|
Suburban Federal Savings Bank |
Crofton, MD |
1/30/2009 |
|
Deposits: $302 Million |
Assets: $360.0 Million |
FDIC Exposure:
$126 million |
|
Notes: The FDIC entered into a purchase and assumption
agreement with Bank of Essex, Tappahannock, Virginia, to
assume all of the deposits of Suburban Federal.
|
| MagnetBank |
Salt Lake
City, UT |
1/30/2009 |
| Deposits:
$282.8
Million |
Assets: $292.9
Million |
FDIC Exposure:
$119.4 million |
| Notes: The bank
was closed today by the Utah Department of Financial
Institutions and the FDIC was named receiver. After an
extensive marketing process, the
FDIC was unable to find another financial institution to
take over the banking operations so the FDIC has sent checks
to the retail depositors for their insured funds.
Brokered deposits will be wired once brokers provide the
FDIC with the necessary documents to determine if any of
their clients exceed the insurance limits. Customers who
placed money with brokers should contact them directly for
more information about the status of their funds. |
|
1st Centennial Bank |
Redlands, CA |
1/23/2009 |
|
Deposits: $676.9 Million |
Assets: $803.3 Million |
FDIC Exposure: $227 million |
|
Notes:
1st
Centennial Bank was closed today by the California
Department of Financial Institutions. alt $12.8 million that
exceeded the insurance limits. 1st Centennial also had
approximately $362 million in brokered deposits that are not
a part of the transaction. First California agreed to assume
the insured deposits for a 5.29% premium. It will also
purchase approximately $293 million of the failed bank's
assets |
| Bank of Clark
County |
Vancouver, WA |
1/16/2009 |
| Deposits: $366.5
Million |
Assets: $446.5
Million |
FDIC Exposure:
$120 -145 million |
| Notes:
Umpqua Bank, Roseburg, Oregon, to assume the insured
deposits of the Bank of Clark County. Umpqua will not assume
the approximately $117.8 million in brokered deposits. |
|
National Bank of Commerce |
Berkeley, Ill |
1/16/2009 |
|
Deposits: $402.1 Million |
Assets: $430.9 Million |
FDIC Exposure: $97.1 million |
|
Notes: Republic Bank has agreed to buy roughly $366.6
million in National Commerce Bank's assets at a discount of
$44.9 million.
|
2008 Bank Failures
25 Banks Failed in 2008
|
Sanderson State Bank |
Sanderson, TX |
12/12/2008 |
|
Deposits: $27.9 Million |
Assets: $37 Million |
FDIC exposure $12.5 million |
|
Notes:
FDIC entered into a purchase and assumption agreement with
The Pecos County State Bank, Fort Stockton, Texas, to assume
all of Sanderson State Bank's deposits, including those that
exceeded the deposit insurance limit. The Pecos County State
Bank will purchase approximately $3.8 million of assets, and
have the option to purchase owned premises and equipment.
|
| Haven Trust
Bank |
Duluth, GA |
12/12/2008 |
| Deposits: $515
Million |
Assets: $572
Million |
FDIC exposure
$200 million |
|
Notes: Branch Banking and Trust Company, Winston-Salem, NC
acquires deposits. |
|
First Georgia Community Bank |
Jackson, GA |
12/5/2008 |
|
Deposits: $197.4 Million |
Assets: $237.5 Million |
FDIC exposure $72.2 million |
|
Notes: United Bank, Zebulon, GA has agreed to assume all
deposits. |
| PFF Bank and
Trust |
Pomona, CA |
11/21/2008 |
| Deposits: $2.4
Billion |
Assets: $3.7
Billion |
FDIC exposure
$700 Million |
| Notes: U.S.
Bank,
Minneapolis, MN
acquires deposits. |
|
Downey Savings and Loan Association |
Newport Beach, CA |
11/21/2008 |
|
Deposits: $9.7 Billion |
Assets: $12.8 Billion |
FDIC exposure $1.4 Billion |
|
Notes: U.S. Bank,
Minneapolis, MN
acquires deposits. |
| The Community
Bank |
Loganville,
GA |
11/21/2008 |
| Deposits: $611.4
Million |
Assets:$681
Million |
FDIC exposure
$200 to 240 Million |
| Notes:
Bank of Essex ,
Tappahannock, VA
acquires deposits. |
|
Security Pacific Bank |
Los Angeles, CA |
11/7/2008 |
|
Deposits: $450.1 Million |
Assets: $561.1Million |
FDIC exposure $210 Million |
|
Notes: Pacific Western Bank,
Los Angeles, CA
acquires deposits. |
| Franklin
Bank, SSB |
Houston,TX |
11/7/008 |
| Deposits: $3.7
Billion |
Assets: $5.1
Billion |
FDIC exposure
$1.4 to 1.6 Billon |
| Notes:
Prosperity Bank, El Campo, Texas acquires deposits. |
|
Freedom Bank |
Bradenton, FL |
10/31/2008 |
|
Deposits: $254 Million |
Assets: $287 Million |
FDIC exposure $36 Million |
|
Notes:
Fifth Third
Bank, Grand Rapids, Michigan acquires deposits. |
| Alpha Bank &
Trust |
Alpharetta,
GA |
10/24/2008 |
| Deposits: $346.2
Million |
Assets: $354.1
Million |
FDIC exposure
$158.1
Million |
| Notes:
Stearns Bank,
N.A., St. Cloud, Minnesota acquires deposits. |
|
Meridian Bank |
Eldred,
IL |
10/10/2008 |
|
Deposits: $36.88 Million |
Assets: $39.18 Million |
($158.1 Million) combined
with FDIC exposure Alpha bank |
|
Notes:
Stearns Bank,
N.A., St. Cloud, Minnesota acquires deposits. |
| Main Street
Bank |
Northville,
MI |
10/10/2008 |
| Deposits: $86
Million |
Assets: $98
Million |
FDIC exposure
$33
to 39 Million |
| Notes:
Monroe Bank &
Trust of Monroe, Michigan acquires deposits. |
|
Washington Mutual Bank |
Seattle, WA |
9/25/2008 |
|
Deposits: $188 Billion |
Assets: $307 Billion |
FDIC exposure $0 |
|
Notes: JP Morgan Chase,
Ny, NY acquires deposits. |
|
Ameribank, Inc. |
Northfork,
WV |
9/19/2008 |
| Deposits: $102
Million |
Assets: $115
Million |
FDIC exposure
$42 Million |
| Notes:
Pioneer
Community Bank, Inc., Laeger, WV acquires deposits. |
|
Silver State Bank |
Henderson, NE |
9/5/2008 |
|
Deposits: $1.7 Billion |
Assets: $2 Billion |
FDIC exposure $450 to 550 million |
|
Notes:
Nevada State
Bank, Las Vegas, NE acquires deposits. |
| Integrity
Bank, Alpharetta |
Alpharetta,
GA |
8/29/2008 |
| Deposits: $1.1
Billion |
Assets: $2
Billion |
FDIC exposure
$250 to 350 million |
| Notes:
Regions Bank, Birmingham, AL acquires deposits. |
|
The Columbian Bank and Trust |
Topeka, KA |
8/22/2008 |
|
Deposits: $622 Million |
Assets: $752 Million |
FDIC exposure $60 million |
|
Notes:
Regions Bank, Birmingham, AL acquires deposits. |
|
First Priority Bank |
Bradenton, FL |
8/1/2008 |
| Deposits: $227
Million |
Assets: $259
Million |
FDIC exposure
$60 million |
| Notes:
SunTrust Bank, Atlanta, GA acquires deposits. |
|
First National Bank of Nevada |
Reno, NE |
7/25/2008 |
|
Deposits: $3 Billion |
Assets: $3.4 Billion |
FDIC exposure $862 million |
|
Notes:
Mutual of Omaha Bank, Omaha, NB acquires deposits. |
|
First Heritage Bank N.A. |
Bradenton, FL |
7/25/2008 |
| Deposits: $227
Million |
Assets: $259
Million |
FDIC exposure
combined with FNBN |
| Notes:
Mutual of Omaha Bank, Omaha, NB acquires deposits. |
|
IndyMac Bank, F.S.B. |
Pasadena, CA |
7/11/2008 |
|
Deposits: $19.06 Billion |
Assets: $32.01 Billion |
FDIC exposure $4 to 8 Billion |
|
Notes:
FDIC will operate IndyMac Federal Bank & acquires deposits. |
| First
Inegrity Bank |
Staples,
MN |
5/30/2008 |
| Deposits: $50.3
Million |
Assets: 54.7 |
FDIC exposure
$2.3 Million |
| Notes:
The FDIC
approved the assumption of all the deposits of First
Integrity by First International Bank and Trust, Watford
City, North Dakota. First International will purchase
approximately $35.8 million of First Integrity's assets for
a total premium of $2.03 million. The FDIC will retain
approximately $18.9 million in assets for later disposition. |
|
ANB Financial, National
Association |
Bentonville, AK |
5/9/2008 |
| Deposits: $1.8
Billion |
Assets: $2.1
Billion |
FDIC exposure
$214 Million |
| Notes:
Pulaski Bank and Trust Company, Little Rock, AK acquires
deposits. |
|
Hume Bank |
Hume, MO |
3/7/2008 |
|
Deposits: $12.5 Million |
Assets: $18.7 Million |
FDIC exposure not published |
|
Notes:
Pulaski Bank and Trust Company, Little Rock, AK acquires
deposits. |
|
Douglass National Bank |
Kansas City, MO |
1/25/2008 |
| Deposits: $53.8
Million |
Assets: $58.5
Million |
FDIC exposure
$5.6 Million |
| Notes:
Liberty Bank and Trust Company, New Orleans, LA acquires
deposits. |
|
2007
Bank Failures
3 Bank Failures in 2007 |
|
Miami Valley Bank |
Lakeview, OH |
10/4/2007 |
|
Deposits: $76 Million |
Assets: $86.7 Million |
FDIC exposure $3 Million |
|
Notes:
The Citizens Bank Company, Sandusky, OH acquires deposits. |
|
NET Bank |
Alpharetta, GA |
9/28/2007 |
| Deposits: $2.3
Billion |
Assets: $2.5
Billion |
FDIC exposure
$110 Million |
| Notes:
ING Bank, fsb, Wilmington, DE acquires deposits. |
|
Metropolitan Savings |
Pittsburgh, PA |
2/2/2007 |
|
Deposits: $12 Million |
Assets: $15.8 Million |
FDIC exposure $NA |
|
Notes:
Allegheny Valley Bank of Pittsburgh acquires deposits. |
"Congress created the Federal
Deposit Insurance Corporation in 1933 to restore public confidence
in the nation's banking system. The FDIC insures deposits at the
nation's 8,384 banks and savings associations and it promotes the
safety and soundness of these institutions by identifying,
monitoring and addressing risks to which they are exposed. The FDIC
receives no federal tax dollars –insured financial institutions fund
its operations." FDIC
|
