Portal Seven | Failed Banks Tracker : List of Banks Failed in 2008

Number of Banks Failed in 2008

25

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Yearly Failed Banks List
2013	2012	2011	2010	2009	2008

Historical Bank Failures(Since 1934)
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Failed Banks Map
Map 2013	Map 2012	Map 2011	Map 2010	Map 2009	Map 2008	Map Since 2008

Asset-wise List
Acquiring Banks	Big Banks	Medium Banks	Small Banks

State-wise Failed Banks List and Map

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

Total Deposits of All Banks Insured by FDIC since 1990

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 www.fdic.gov/deposit/deposits/insured

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.