July 22, 2010 – 5:18 pm

Boy, it really starts to add up, doesn’t it? This makes quick work of almost half of the FDIC’s $40B pre-payment trick. What next?

Note also that these failures are far from completely “resolved”, and that the below FDIC costs are just preliminary estimates —  the ultimate losses to the wishfully-named “insurance fund” will probably be higher (for example the losses due to IndyMac were ultimate revised upwards by at least 20%, and that is before taking into account long-term bond guarantees the FDIC has provided for most of its bank failure interventions.  Or the fact that Congress just made the FDIC guarantee $250k per account, retroactive back to Jan 1., 2008.)

(Thanks to reader Ken Baumgardt for compiling and contributing this table!)

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City State Closing Date FDIC Hit ($ millions)

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Mainstreet Savings Bank, FSB Hastings MI 16-Jul-10 11.4

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Olde Cypress Community Bank Clewiston FL 16-Jul-10 31.5

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Turnberry Bank Aventura FL 16-Jul-10 67.6

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Metro Bank of Dade County Miami FL 16-Jul-10 67.6

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First National Bank of the South Spartanburg SC 16-Jul-10 67.6

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Woodlands Bank Bluffton SC 16-Jul-10 115

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Home National Bank Blackwell OK 9-Jul-10 78.7

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USA Bank Port Chester NY 9-Jul-10 61.7

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Ideal Federal Savings Bank Baltimore MD 9-Jul-10 2.1

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Bay National Bank Baltimore MD 9-Jul-10 17.4

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High Desert State Bank Albuquerque NM 25-Jun-10 20.9

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First National Bank Savannah GA 25-Jun-10 68.9

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Peninsula Bank Englewood FL 25-Jun-10 194.8

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Nevada Security Bank Reno NV 18-Jun-10 80.9

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Washington First International Bank Seattle WA 11-Jun-10 158.4

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TierOne Bank Lincoln NE 4-Jun-10 297.8

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Arcola Homestead Savings Bank Arcola IL 4-Jun-10 3.2

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First National Bank Rosedale MS 4-Jun-10 12.6

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Sun West Bank Las Vegas NV 28-May-10 96.7

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Granite Community Bank, NA Granite Bay CA 28-May-10 17.3

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Bank of Florida – Tampa Tampa FL 28-May-10 40.3

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Bank of Florida – Southwest Naples FL 28-May-10

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Bank of Florida – Southeast Fort Lauderdale FL 28-May-10

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Pinehurst Bank Saint Paul MN 21-May-10 6

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Midwest Bank and Trust Company Elmwood Park IL 14-May-10 216.4

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Southwest Community Bank Springfield MO 14-May-10 29

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New Liberty Bank Plymouth MI 14-May-10 25

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Satilla Community Bank Saint Marys GA 14-May-10 31.3

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1st Pacific Bank of California San Diego CA 7-May-10 87.7

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Towne Bank of Arizona Mesa AZ 7-May-10 41.8

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Access Bank Champlin MN 7-May-10 5.5

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The Bank of Bonifay Bonifay FL 7-May-10 78.7

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Frontier Bank Everett WA 30-Apr-10 1370

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BC National Banks Butler MO 30-Apr-10 11.4

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Champion Bank Creve Coeur MO 30-Apr-10 52.7

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CF Bancorp Port Huron MI 30-Apr-10 615.3

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Westernbank Puerto Rico Mayaguez PR 30-Apr-10 3310

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En Español

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R-G Premier Bank of Puerto Rico Hato Rey PR 30-Apr-10 1230

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En Español

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Eurobank San Juan PR 30-Apr-10 743.9

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En Español

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Wheatland Bank Naperville IL 23-Apr-10 133

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Peotone Bank and Trust Company Peotone IL 23-Apr-10 31.7

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Lincoln Park Savings Bank Chicago IL 23-Apr-10 48.4

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New Century Bank Chicago IL 23-Apr-10 125.3

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Citizens Bank and Trust Company of Chicago Chicago IL 23-Apr-10 20.9

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Broadway Bank Chicago IL 23-Apr-10 394.3

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Amcore Bank, National Association Rockford IL 23-Apr-10 220.3

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City Bank Lynnwood WA 16-Apr-10 323.4

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Tamalpais Bank San Rafael CA 16-Apr-10 81.1

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Innovative Bank Oakland CA 16-Apr-10 37.8

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Butler Bank Lowell MA 16-Apr-10 22.9

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Riverside National Bank of Florida Fort Pierce FL 16-Apr-10 491.8

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AmericanFirst Bank Clermont FL 16-Apr-10 10.5

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First Federal Bank of North Florida Palatka FL 16-Apr-10 6

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Lakeside Community Bank Sterling Heights MI 16-Apr-10 11.2

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Beach First National Bank Myrtle Beach SC 9-Apr-10 130.3

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Desert Hills Bank Phoenix AZ 26-Mar-10 106.7

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Unity National Bank Cartersville GA 26-Mar-10 67.2

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Key West Bank Key West FL 26-Mar-10 23.1

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McIntosh Commercial Bank Carrollton GA 26-Mar-10 123.3

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State Bank of Aurora Aurora MN 19-Mar-10 4.3

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First Lowndes Bank Fort Deposit AL 19-Mar-10 38.3

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Bank of Hiawassee Hiawassee GA 19-Mar-10 137.7

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Appalachian Community Bank Ellijay GA 19-Mar-10 419.3

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Advanta Bank Corp. Draper UT 19-Mar-10 635.6

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Century Security Bank Duluth GA 19-Mar-10 29.9

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American National Bank Parma OH 19-Mar-10 17.1

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Statewide Bank Covington LA 12-Mar-10 38.1

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Old Southern Bank Orlando FL 12-Mar-10 94.6

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The Park Avenue Bank New York NY 12-Mar-10 50.7

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LibertyPointe Bank New York NY 11-Mar-10 24.8

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Centennial Bank Ogden UT 5-Mar-10 96.3

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Waterfield Bank Germantown MD 5-Mar-10 51

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Bank of Illinois Normal IL 5-Mar-10 53.7

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Sun American Bank Boca Raton FL 5-Mar-10 103.7

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Rainier Pacific Bank Tacoma WA 26-Feb-10 95.2

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Carson River Community Bank Carson City NV 26-Feb-10 7.9

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La Jolla Bank, FSB La Jolla CA 19-Feb-10 882.3

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George Washington Savings Bank Orland Park IL 19-Feb-10 141.4

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The La Coste National Bank La Coste TX 19-Feb-10 3.7

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Marco Community Bank Marco Island FL 19-Feb-10 38.1

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1st American State Bank of Minnesota Hancock MN 5-Feb-10 3.1

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American Marine Bank Bainbridge Island WA 29-Jan-10 58.9

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First Regional Bank Los Angeles CA 29-Jan-10 0

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Community Bank and Trust Cornelia GA 29-Jan-10 0

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Marshall Bank, N.A. Hallock MN 29-Jan-10 0

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Florida Community Bank Immokalee FL 29-Jan-10 352.6

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First National Bank of Georgia Carrollton GA 29-Jan-10 260.4

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Columbia River Bank The Dalles OR 22-Jan-10 172.5

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Evergreen Bank Seattle WA 22-Jan-10 64.2

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Charter Bank Santa Fe NM 22-Jan-10 201.9

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Bank of Leeton Leeton MO 22-Jan-10 0

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Premier American Bank Miami FL 22-Jan-10 85

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Barnes Banking Company Kaysville UT 15-Jan-10 271.3

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St. Stephen State Bank St. Stephen MN 15-Jan-10 7.2

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Town Community Bank & Trust Antioch IL 15-Jan-10 17.8

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Horizon Bank Bellingham WA 8-Jan-10 539.1

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TOTAL ($ millions) $16774

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