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 |
|
. |
Horizon Bank | Bellingham | WA | 8-Jan-10 | 539.1 |
|
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TOTAL | ($ millions) | $16774 |
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