Eight banks collapsed in a single day last week, pushing the 2010 total to 50. That’s an average of 12 banks a month going under, putting the banking system at risk for further write downs.
The latest banks to go under.
- Tamalpais Bank
- City Bank
- Butler Bank
- American First Bank
- Lakeside Community Bank
- First Federal Bank of North Florida
- Riverside Nat’l Bank of Florida
- Innovative Bank
The cost to the FDIC for these banks is approximately $985 Million. Since the collapse of Lehman Brothers in September 2008, bringing the year to date total to 204 banks.
Banks vs Credit Unions's Blog 