Bank Failures in 2009 Reach 100

closed_bankThe FDIC shut down Partners Bank of Naples, FL today, raising the total number of failed banks in 2009 to 100.

 Back in August, the size of the banking crisis during this “Great Recession” had already far surpassed the Great Depression. But even with 100 banks now down, there are still hundreds more about to fail.

 How is your bank doing?

Update:

  Three more banks added to the list (so far) since #100.

 Anticipated costs to the FDIC (aka taxpayers) for today’s closures:

 Partners Bank                  $28.6 million
American United Bank  $44 million
Hillcrest Bank Florida   $45 million
Flagship National Bank $59 million 

Total…. $176.6 million. Which is actually not much, relatively speaking. Costs have been far higher when larger banks were closed.

Update II:

Add three more since the last update, a new grand total of 106 failed banks this year.

Bank of Elmwood $101.1 million
Riverview Community Bank $20 million
First DuPage Bank $59 million

Bringing the estimated FDIC cost to $356.7 million today.

Advertisements
Explore posts in the same categories: Economy, Other News

Tags: , , , , ,

You can comment below, or link to this permanent URL from your own site.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: