Bank failures grow to 78 in 2010

Posted: June 1, 2010 in Banks, Failures
Tags: , , , , , , ,

Bank failures grow to 78 for the year. On Friday, Federal and State regulators closed another 5 banks, bringing the total number of bank failure for the month to 14. Three of the 5 bank failures were in Florida, one in California and one in Nevada. Assets of the five failed banks totaled $1.95 billion, and at a cost to the FDIC’s DIF of $317.0 million. The cost to the FDIC’s DIF of the 14 bank failures in May totaled $838.4 million. In April, the number of bank failures total 23, with assets totaling $39.0 billion and at a cost to the FDIC of $9.42 billion.

FDIC Bank Failures
Year No. of Failed Banks Total Assets of Failed Banks Loss to FDIC’s DIF
2007 3 $2,602,500,000 $113,000,000
2008 25 $373,588,780,000 $15,708,200,000
2009 140 $170,867,000,000 $36,432,500,000
2010 78 $68,093,600,000 $16,770,800,000
Total 246 $615,151,880,000 $69,024,500,000

Bank Name

City

State

CERT #

Closing Date

Updated Date

Sun West Bank Las Vegas NV 34785 May 28, 2010 May 28, 2010
Granite Community Bank, NA Granite Bay CA 57315 May 28, 2010 May 28, 2010
Bank of Florida – Tampa Tampa FL 57814 May 28, 2010 May 28, 2010
Bank of Florida – Southwest Naples FL 35106 May 28, 2010 May 28, 2010
Bank of Florida – Southeast Fort Lauderdale FL 57360 May 28, 2010 May 28, 2010
Pinehurst Bank Saint Paul MN 57735 May 21, 2010 May 21, 2010
Advertisements

Comments are closed.