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Bank Failure Friday

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Could see a new record today. 7 bank failures today so far, giving us around 90 failed banks in 08/09 to date:

2009 Bank Failures

Bank Name City State CERT # Closing Date Updated Date

Security Bank of Jones County Gray GA 8486 July 24, 2009

Security Bank of Houston County Perry GA 27048 July 24, 2009

Security Bank of Bibb County Macon GA 27367 July 24, 2009

Security Bank of North Metro Woodstock GA 57105 July 24, 2009

Security Bank of North Fulton Alpharetta GA 57430 July 24, 2009

Security Bank of Gwinnett County Suwanee GA 57346 July 24, 2009

Waterford Village Bank Williamsville NY 58065 July 24, 2009

Temecula Valley Bank Temecula CA 34341 July 17, 2009

Vineyard Bank Rancho Cucamonga CA 23556 July 17, 2009

BankFirst Sioux Falls SD 34103 July 17, 2009

First Piedmont Bank Winder GA 34594 July 17, 2009

Bank of Wyoming Thermopolis WY 22754 July 10, 2009

Founders Bank Worth IL 18390 July 2, 2009

Millennium State Bank of Texas Dallas TX 57667 July 2, 2009

First National Bank of Danville Danville IL 3644 July 2, 2009

Elizabeth State Bank Elizabeth IL 9262 July 2, 2009

Rock River Bank Oregon IL 15302 July 2, 2009

First State Bank of Winchester Winchester IL 11710 July 2, 2009

John Warner Bank Clinton IL 12093 July 2, 2009

Mirae Bank Los Angeles CA 57332 June 26, 2009

MetroPacific Bank Irvine CA 57893 June 26, 2009

Horizon Bank Pine City MN 9744 June 26, 2009

Neighborhood Community Bank Newnan GA 35285 June 26,

Community Bank of West Georgia Villa Rica GA 57436 June 26, 2009

First National Bank of Anthony Anthony KS 4614 June 19, 2009

Cooperative Bank Wilmington NC 27837 June 19, 2009

Southern Community Bank Fayetteville GA 35251 June 19, 2009

Bank of Lincolnwood Lincolnwood IL 17309 June 5, 2009 June

Citizens National Bank Macomb IL 5757 May 22, 2009 June

Strategic Capital Bank Champaign IL 35175 May 22, 2009

BankUnited, FSB Coral Gables FL 32247 May 21, 2009

Westsound Bank Bremerton WA 34843 May 8, 2009

America West Bank Layton UT 35461 May 1, 2009

Citizens Community Bank Ridgewood NJ 57563 May 1, 2009

Silverton Bank, NA Atlanta GA 26535 May 1, 2009

First Bank of Idaho Ketchum ID 34396 April 24, 2009

First Bank of Beverly Hills Calabasas CA 32069 April 24, 2009

Michigan Heritage Bank Farmington Hills MI 34369 April 24, 2009

American Southern Bank Kennesaw GA 57943 April 24, 2009

Great Basin Bank of Nevada Elko NV 33824 April 17, 2009

American Sterling Bank Sugar Creek MO 8266 April 17, 2009

New Frontier Bank Greeley CO 34881 April 10, 2009

Cape Fear Bank Wilmington NC 34639 April 10, 2009

Omni National Bank Atlanta GA 22238 March 27, 2009

TeamBank, NA Paola KS 4754 March 20, 2009

Colorado National Bank Colorado Springs CO 18896 March 20, 2009

FirstCity Bank Stockbridge GA 18243 March 20, 2009

Freedom Bank of Georgia Commerce GA 57558 March 6, 2009

Security Savings Bank Henderson NV 34820 February 27, 2009

Heritage Community Bank Glenwood IL 20078 February 27, 2009

Silver Falls Bank Silverton OR 35399 February 20, 2009

Pinnacle Bank of Oregon Beaverton OR 57342 February 13, 2009

Corn Belt Bank & Trust Co. Pittsfield IL 16500 February 13, 2009

Riverside Bank of the Gulf Coast Cape Coral FL 34563 February 13, 2009

Sherman County Bank Loup City NE 5431 February 13, 2009

County Bank Merced CA 22574 February 6, 2009

Alliance Bank Culver City CA 23124 February 6, 2009

FirstBank Financial Services McDonough GA 57017 February 6, 2009

Ocala National Bank Ocala FL 26538 January 30, 2009

Suburban FSB Crofton MD 30763 January 30, 2009

MagnetBank Salt Lake City UT 58001 January 3, 2009

1st Centennial Bank Redlands CA 33025 January 23, 2009

Bank of Clark County Vancouver WA 34959 January 16, 2009

National Bank of Commerce Berkeley IL 19733 January 16, 2009

2008 Bank Failures

Sanderson State Bank En Español Sanderson TX 11568 December 12, 2008

Haven Trust Bank Duluth GA 35379 December 12, 2008

First Georgia Community Bank Jackson GA 34301 December 5, 2008

PFF Bank & Trust Pomona CA 28344 November 21, 2008

Downey Savings & Loan Newport Beach CA 30968 November 21, 2008

Community Bank Loganville GA 16490 November 21, 2008

Security Pacific Bank Los Angeles CA 23595 November 7, 2008

Franklin Bank, SSB Houston TX 26870 November 7, 2008

Freedom Bank Bradenton FL 57930 October 31, 2008

Alpha Bank & Trust Alpharetta GA 58241 October 24, 2008

Meridian Bank Eldred IL 13789 October 10, 2008

Main Street Bank Northville MI 57654 October 10, 2008

Washington Mutual Bank Henderson NV 32633 September 25, 2008

Washington Mutual Bank FSB Park City UT 32633 September 25, 2008

Ameribank Northfork WV 6782 September 19, 2008

Silver State Bank En Español Henderson NV 34194 September 5, 2008

Integrity Bank Alpharetta GA 35469 August 29, 2008

Columbian Bank & Trust Topeka KS 22728 August 22, 2008

First Priority Bank Bradenton FL 57523 August 1, 2008

First Heritage Bank, NA Newport Beach CA 57961 July 25, 2008

First National Bank of Nevada Reno NV 27011 July 25, 2008

IndyMac Bank Pasadena CA 29730 July 11, 2008

First Integrity Bank, NA Staples MN 12736 May 30, 2008

ANB Financial, NA Bentonville AR 33901 May 9, 2008

Hume Bank Hume MO 1971 March 7, 2008

Douglass National Bank Kansas City MO 24660 January 25, 2008

2007 Bank Failures

Miami Valley Bank Lakeview OH 16848 October 4, 2007

NetBank Alpharetta GA 32575 September 28, 2007

Metropolitan Savings Bank Pittsburgh PA 35353 February 2, 2007

2006 Bank Failures

None

2005 Bank Failures

None

http://www.fdic.gov/bank/individual/failed/banklist.html

2009 is shaping up to be a bumper bank failure year!

Edited by MOP

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Could see a new record today. 7 bank failures today so far, giving us around 90 failed banks in 08/09 to date:

http://www.fdic.gov/bank/individual/failed/banklist.html

2009 is shaping up to be a bumper bank failure year!

Albeit I remember a headline shouting it would be 1,000 this year. I want to house prices come down further, I hope for 20%, but it's a shame to see peoples lives being ruined this way. All totally avoidable if the right people had spoken up AND been listened to.

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Albeit I remember a headline shouting it would be 1,000 this year. I want to house prices come down further, I hope for 20%, but it's a shame to see peoples lives being ruined this way. All totally avoidable if the right people had spoken up AND been listened to.

bankers done it to themselves

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Albeit I remember a headline shouting it would be 1,000 this year. I want to house prices come down further, I hope for 20%, but it's a shame to see peoples lives being ruined this way. All totally avoidable if the right people had spoken up AND been listened to.

1000 would be banking armageddon!

I reckon the failure numbers will really start to shoot up as the commercial real estate meltdown starts to bite.

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Another 5 banks go "pop".

Mutual Bank Harvey IL 18659 July 31, 2009 July 31, 2009

First BankAmericano Elizabeth NJ 34270 July 31, 2009 July 31, 2009

Peoples Community Bank West Chester OH 32288 July 31, 2009 July 31, 2009

Integrity Bank Jupiter FL 57604 July 31, 2009 July 31, 2009

First State Bank of Altus Altus OK 9873 July 31, 2009 July 31, 2009

http://www.fdic.gov/bank/individual/failed/banklist.html

That makes 95 failures so far in 08/09.

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I'm sure it will all be fine, failing banks don't show the truth health of the economy.

no, bailouts ADD to the GDP as government spending

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Could see a new record today. 7 bank failures today so far, giving us around 90 failed banks in 08/09 to date:

http://www.fdic.gov/bank/individual/failed/banklist.html

2009 is shaping up to be a bumper bank failure year!

Boring that one - it's not really 7 separate banks, most of them are part of the same organisation. It looks like something similar to the old TSB where each branch was a separate entity but part of a larger federation that pooled funding and back office services. I reckon there's a couple more really big ones to fall myself.

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according to one of the TF folk, there were 24 failures last month, compared with 25 for the whole of 2008

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according to one of the TF folk, there were 24 failures last month, compared with 25 for the whole of 2008

its all priced in to the stock market of course.

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Two bank failures announced so far today:

Community National Bank of Sarasota County - Venice FL 27183 August 7, 2009

First State Bank - Sarasota FL 27364 August 7, 2009

http://www.fdic.gov/bank/individual/failed/banklist.html

chart.png

Takes us up to 71 bank failures this year in the US. Big jump in July.

Edited by MOP

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Two bank failures announced so far today:

http://www.fdic.gov/bank/individual/failed/banklist.html

chart.png

Takes us up to 71 bank failures this year in the US. Big jump in July.

Another one went late last night.

Community First Bank Prineville OR 23268 August 7, 2009

http://www.fdic.gov/bank/individual/failed/banklist.html

2009 total=72

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5 US banks went under yesterday.

Community Bank of Nevada Las Vegas, NV August 14, 2009

Assets $1.52 billion Deposits $1.38 billion

Community Bank of Arizona Phoenix, AZ August 14, 2009

Assets $158.5 million Deposits $143.8 million

Union Bank, National Association Gilbert, AZ August 14, 2009

Assests $124 million Deposits $112 million

Colonial Bank Montgomery, AL August 14, 2009

Assests $25 billion Deposits $20 billion

Dwelling House Savings and Loan Association Pittsburgh, PA August 14, 2009

Assets $13.4 million Deposits $13.8 million

http://www.fdic.gov/bank/individual/failed/banklist.html

Colonial is the biggest bank to go under so far in 2009. Total now 77 for 2009.

http://portalseven.com/servlets/Finance?ac...=finFailedBanks

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+1 self inflicted death

death for the FDIC!!

Apparently they are bust now. See for the GEI thread tracking failures for the last year:

http://www.greenenergyinvestors.com/index....0&start=120

Last week, their balance sheet for the Deposit Insurance Fund apparently looked like this:

Now, it seems Colonial just cost them several Billion.

FDICserendipityThumb.png

and Mish Shedlock...

http://globaleconomicanalysis.blogspot.com...09-fdic-is.html

Edited by chris c-t

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death for the FDIC!!

Apparently they are bust now. See for the GEI thread tracking failures for the last year:

http://www.greenenergyinvestors.com/index....0&start=120

Last week, their balance sheet for the Deposit Insurance Fund apparently looked like this:

Now, it seems Colonial just cost them several Billion.

FDICserendipityThumb.png

and Mish Shedlock...

http://globaleconomicanalysis.blogspot.com...09-fdic-is.html

So the FDIC are finally bust but the bank failures are actually increasing in number every week? What happens next week then?

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The FDIC is required by law to replenish it's insurance fund. Question is, will it be by taxing the banks who are still alive or some printy, printy?

I wouldn't particularly want to have a large amount of cash in an American bank just now.

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