Number of Banks Failed in 2008


Monthly Bank Failures in 2008-2013

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Yearly Failed Banks List
Historical Bank Failures(Since 1934)
Failed Banks Map
Asset-wise List

# Bank Location Date Closed Assets Deposits FDIC Cost
25 Sanderson, TX December 12, 2008 $37 million $28 million $12.5 million
24 Duluth, GA December 12, 2008 $572 million $515 million $200 million
23 Jackson, GA December 05, 2008 $238 million $197 million $72.2 million
22 Pomona, CA November 21, 2008 $3.7 billion $2.4 billion $700 million
21 Newport Beach, CA November 21, 2008 $12.8 billion $9.7 billion $1.4 billion
20 Loganville, GA November 21, 2008 $681 million $611 million $240 million
19 Los Angeles, CA November 07, 2008 $561 million $450 million $210 million
18 SSB, Houston, TX November 07, 2008 $5.1 billion $3.7 billion $1.6 billion
17 Bradenton, FL October 31, 2008 $287 million $254 million $104 million
16 Alpharetta, GA October 24, 2008 $354 million $346 million $158.1 million
15 Eldred, IL October 10, 2008 $39.18 million $36.88 million $14.5 million
14 Northville, MI October 10, 2008 $98 million $86 million $39 million
13 Henderson, NV September 25, 2008 $307 billion $188 billion $0
12 Northfork, WV September 19, 2008 $115 million $102 million $42 million
11 Henderson, NV September 05, 2008 $2 billion $1.7 billion $550 million
10 Alpharetta, GA August 29, 2008 $1.1 billion $974 million $350 million
9 Topeka, KS August 22, 2008 $752 million $622 million $60 million
8 Bradenton, FL August 01, 2008 $259 million $227 million $72 million
7 Newport Beach, CA July 25, 2008 $254 million $233 million -
6 Reno, NV July 25, 2008 $3.4 billion $3.0 billion $862 million
5 Pasadena, CA July 11, 2008 $32 billion $19 billion $8.0 billion
4 Staples, MN May 30, 2008 $54.7 million $50.3 million $2.3 million
3 Bentonville, AR May 09, 2008 $2.1 billion $1.8 billion $214 million
2 Hume, MO March 07, 2008 $18.7 million $13.6 million -
1 Kansas City, MO January 25, 2008 $58.5 million $53.8 million $5.6 million

Cumulative Bank Failures in 2008-2013

US Bank Failures Since 1934
FDIC Bank Failures since 1990

Cost of Bank Failures to FDIC

Total Deposits of All Banks Insured by FDIC since 1990

Cost of Bank Failures to FDIC

The Federal Deposit Insurance Corporation is an independent federal agency created in 1933 to promote public confidence and stability in the nation's banking system. The FDIC is often appointed as receiver for failed banks.

What is a bank failure?
A bank failure is the closing of a bank by a federal or state banking regulatory agency. Generally, a bank is closed when it is unable to meet its obligations to depositors and others. This brochure deals with the failure of "insured banks." The term "insured bank" means a bank insured by FDIC, including banks chartered by the federal government as well as most banks chartered by the state governments. An insured bank must display an official FDIC sign at each teller window.

What is FDIC's role in a bank failure?
In the event of a bank failure, the FDIC acts in two capacities. First, as the insurer of the bank's deposits, the FDIC pays insurance to the depositors up to the insurance limit. Second, the FDIC, as the "Receiver" of the failed bank, assumes the task of selling/collecting the assets of the failed bank and settling its debts, including claims for deposits in excess of the insured limit.

What is the purpose of FDIC deposit insurance?
The FDIC protects depositors' funds in the unlikely event of the financial failure of their bank or savings institution. FDIC deposit insurance covers the balance of each depositor's account, dollar-for-dollar, up to the insurance limit, including principal and any accrued interest through the date of the insured bank's closing.

What is the FDIC insurance amount?
The standard insurance amount is $250,000 per depositor, per insured bank, for each ownership category. This includes principal and accrued interest and applies to all depositors of an insured bank. Deposits in separate branches of an insured bank are not separately insured. Deposits in one insured bank are insured separately from deposits in another insured bank. Deposits maintained in different categories of legal ownership at the same bank can be separately insured. Therefore, it is possible to have deposits of more than $250,000 at one insured bank and still be fully insured. For more information on deposit insurance coverage, see the FDIC's brochure "Your Insured Deposits" which can be accessed at

Who does the FDIC insure?
Any person or entity can have FDIC insurance on a deposit. A depositor does not have to be a citizen, or even a resident of the United States. FDIC insurance only protects depositors, although some depositors may also be creditors or shareholders of an insured bank.

What does FDIC deposit insurance cover?
FDIC insurance covers deposits received at an insured bank. Types of deposit products include checking, NOW, and savings accounts, money market deposit accounts (MMDA), and time deposits such as certificates of deposit (CDs).

What is the source of funding used by the FDIC to pay insured depositors of a failed bank?
The FDIC's deposit insurance fund consists of premiums already paid by insured banks and interest earnings on its investment portfolio of U.S. Treasury securities. No federal or state tax revenues are involved.

How am I notified when my bank has been closed?
The FDIC notifies each depositor in writing using the depositor's address on record with the bank. This notification is mailed immediately after the bank closes. When the failed bank is acquired by another bank; the assuming bank also notifies the depositors. This notification usually is mailed with the first bank statement after the assumption.

Source :  Federal Deposit Insurance Corporation

Notes :

* The Cost to DIF of $2.5 billion for "California National Bank" failed on 30th October,2009 is the total cost for all the 9 banks failed on that.