Sunday, February 7, 2010

16 banks have failed in 2010...so far

Here is the list of the 16 Banks that failed in 2010, & the FDIC took over:

Bank Name

City

State

CERT #

Closing Date

Updated Date

1st American State Bank of MinnesotaHancockMN15448February 5, 2010February 5, 2010
American Marine BankBainbridge IslandWA16730January 29, 2010February 3, 2010
First Regional BankLos AngelesCA23011January 29, 2010February 3, 2010
Community Bank and TrustCorneliaGA5702January 29, 2010February 3, 2010
Marshall Bank, N.A.HallockMN16133January 29, 2010February 3, 2010
Florida Community BankImmokaleeFL5672January 29, 2010February 3, 2010
First National Bank of GeorgiaCarrolltonGA16480January 29, 2010February 3, 2010
Columbia River BankThe DallesOR22469January 22, 2010February 2, 2010
Evergreen BankSeattleWA20501January 22, 2010February 2, 2010
Charter BankSanta FeNM32498January 22, 2010February 2, 2010
Bank of LeetonLeetonMO8265January 22, 2010February 2, 2010
Premier American BankMiamiFL57147January 22, 2010February 2, 2010
Barnes Banking CompanyKaysvilleUT1252January 15, 2010February 3, 2010
St. Stephen State BankSt. StephenMN17522January 15, 2010January 26, 2010
Town Community Bank & TrustAntiochIL34705January 15, 2010January 26, 2010
Horizon BankBellinghamWA22977January 8, 2010January 12, 2010






Failed Bank List 2009 ~ 140 Banks Failed








First Federal Bank of California, F.S.B.Santa MonicaCA28536December 18, 2009December 23, 2009
Imperial Capital BankLa JollaCA26348December 18, 2009December 23, 2009
Independent Bankers' BankSpringfieldIL26820December 18, 2009January 14, 2010
New South Federal Savings BankIrondaleAL32276December 18, 2009December 23, 2009
Citizens State BankNew BaltimoreMI1006December 18, 2009January 8, 2010
Peoples First Community BankPanama CityFL32167December 18, 2009December 23, 2009
RockBridge Commercial BankAtlantaGA58315December 18, 2009December 22, 2009
SolutionsBankOverland ParkKS4731December 11, 2009December 15, 2009
Valley Capital Bank, N.A.MesaAZ58399December 11, 2009December 15, 2009
Republic Federal Bank, N.A.MiamiFL22846December 11, 2009December 15, 2009
Greater Atlantic BankRestonVA32583December 4, 2009December 15, 2009
Benchmark BankAuroraIL10440December 4, 2009December 8, 2009
AmTrust BankClevelandOH29776December 4, 2009December 8, 2009
The Tattnall BankReidsvilleGA12080December 4, 2009December 15, 2009
First Security National BankNorcrossGA26290December 4, 2009December 8, 2009
The Buckhead Community BankAtlantaGA34663December 4, 2009December 15, 2009
Commerce Bank of Southwest FloridaFort MyersFL58016November 20, 2009December 15, 2009
Pacific Coast National BankSan ClementeCA57914November 13, 2009November 18, 2009
Orion BankNaplesFL22427November 13, 2009December 15, 2009
Century Bank, F.S.B.SarasotaFL32267November 13, 2009December 15, 2009
United Commercial BankSan FranciscoCA32469November 6, 2009November 9, 2009
Gateway Bank of St. LouisSt. LouisMO19450November 6, 2009November 9, 2009
Prosperan BankOakdaleMN35074November 6, 2009November 9, 2009
Home Federal Savings BankDetroitMI30329November 6, 2009December 15, 2009
United Security BankSpartaGA22286November 6, 2009December 15, 2009
North Houston BankHoustonTX18776October 30, 2009November 3, 2009
Madisonville State BankMadisonvilleTX33782October 30, 2009November 3, 2009
Citizens National BankTeagueTX25222October 30, 2009November 3, 2009
Park National BankChicagoIL11677October 30, 2009November 3, 2009
Pacific National BankSan FranciscoCA30006October 30, 2009November 3, 2009
California National BankLos AngelesCA34659October 30, 2009November 3, 2009
San Diego National BankSan DiegoCA23594October 30, 2009November 3, 2009
Community Bank of LemontLemontIL35291October 30, 2009November 3, 2009
Bank USA, N.A.PhoenixAZ32218October 30, 2009November 3, 2009
First DuPage BankWestmontIL35038October 23, 2009November 3, 2009
Riverview Community BankOtsegoMN57525October 23, 2009November 3, 2009
Bank of ElmwoodRacineWI18321October 23, 2009November 3, 2009
Flagship National BankBradentonFL35044October 23, 2009October 29, 2009
Hillcrest Bank FloridaNaplesFL58336October 23, 2009October 28, 2009
American United BankLawrencevilleGA57794October 23, 2009October 28, 2009
Partners BankNaplesFL57959October 23, 2009October 28, 2009
San Joaquin BankBakersfieldCA23266October 16, 2009October 21, 2009
Southern Colorado National BankPuebloCO57263October 2, 2009October 20, 2009
Jennings State BankSpring GroveMN11416October 2, 2009October 20, 2009
Warren BankWarrenMI34824October 2, 2009October 20, 2009
Georgian BankAtlantaGA57151September 25, 2009October 13, 2009
Irwin Union Bank, F.S.B.LouisvilleKY57068September 18, 2009September 22, 2009
Irwin Union Bank and Trust CompanyColumbusIN10100September 18, 2009September 22, 2009
Venture BankLaceyWA22868September 11, 2009November 23, 2009
Brickwell Community BankWoodburyMN57736September 11, 2009November 23, 2009
Corus Bank, N.A.ChicagoIL13693September 11, 2009November 23, 2009
First State BankFlagstaffAZ34875September 4, 2009November 23, 2009
Platinum Community BankRolling MeadowsIL35030September 4, 2009November 23, 2009
Vantus BankSioux CityIA27732September 4, 2009November 23, 2009
InBankOak ForestIL20203September 4, 2009November 23, 2009
First Bank of Kansas CityKansas CityMO25231September 4, 2009November 23, 2009
Affinity BankVenturaCA27197August 28, 2009November 23, 2009
Mainstreet BankForest LakeMN1909August 28, 2009November 23, 2009
Bradford BankBaltimoreMD28312August 28, 2009November 23, 2009
Guaranty BankAustinTX32618August 21, 2009February 3, 2010
CapitalSouth BankBirminghamAL22130August 21, 2009November 23, 2009
First Coweta BankNewnanGA57702August 21, 2009November 23, 2009
ebankAtlantaGA34682August 21, 2009November 23, 2009
Community Bank of NevadaLas VegasNV34043August 14, 2009November 23, 2009
Community Bank of ArizonaPhoenixAZ57645August 14, 2009November 23, 2009
Union Bank, National AssociationGilbertAZ34485August 14, 2009November 23, 2009
Colonial BankMontgomeryAL9609August 14, 2009November 23, 2009
Dwelling House Savings and Loan AssociationPittsburghPA31559August 14, 2009November 23, 2009
Community First BankPrinevilleOR23268August 7, 2009November 23, 2009
Community National Bank of Sarasota CountyVeniceFL27183August 7, 2009November 23, 2009
First State BankSarasotaFL27364August 7, 2009November 23, 2009
Mutual BankHarveyIL18659July 31, 2009November 23, 2009
First BankAmericanoElizabethNJ34270July 31, 2009November 23, 2009
Peoples Community BankWest ChesterOH32288July 31, 2009November 23, 2009
Integrity BankJupiterFL57604July 31, 2009November 23, 2009
First State Bank of AltusAltusOK9873July 31, 2009November 23, 2009
Security Bank of Jones CountyGrayGA8486July 24, 2009November 23, 2009
Security Bank of Houston CountyPerryGA27048July 24, 2009November 23, 2009
Security Bank of Bibb CountyMaconGA27367July 24, 2009November 23, 2009
Security Bank of North MetroWoodstockGA57105July 24, 2009November 23, 2009
Security Bank of North FultonAlpharettaGA57430July 24, 2009November 23, 2009
Security Bank of Gwinnett CountySuwaneeGA57346July 24, 2009November 23, 2009
Waterford Village BankWilliamsvilleNY58065July 24, 2009November 23, 2009
Temecula Valley BankTemeculaCA34341July 17, 2009November 23, 2009
Vineyard BankRancho CucamongaCA23556July 17, 2009November 23, 2009
BankFirstSioux FallsSD34103July 17, 2009November 23, 2009
First Piedmont BankWinderGA34594July 17, 2009November 23, 2009
Bank of WyomingThermopolisWY22754July 10, 2009November 23, 2009
Founders BankWorthIL18390July 2, 2009November 23, 2009
Millennium State Bank of TexasDallasTX57667July 2, 2009November 23, 2009
First National Bank of DanvilleDanvilleIL3644July 2, 2009November 23, 2009
Elizabeth State BankElizabethIL9262July 2, 2009November 23, 2009
Rock River BankOregonIL15302July 2, 2009November 23, 2009
First State Bank of WinchesterWinchesterIL11710July 2, 2009November 23, 2009
John Warner BankClintonIL12093July 2, 2009November 23, 2009
Mirae BankLos AngelesCA57332June 26, 2009November 23, 2009
MetroPacific BankIrvineCA57893June 26, 2009November 23, 2009
Horizon BankPine CityMN9744June 26, 2009November 23, 2009
Neighborhood Community BankNewnanGA35285June 26, 2009November 23, 2009
Community Bank of West GeorgiaVilla RicaGA57436June 26, 2009November 23, 2009
First National Bank of AnthonyAnthonyKS4614June 19, 2009November 23, 2009
Cooperative BankWilmingtonNC27837June 19, 2009November 23, 2009
Southern Community BankFayettevilleGA35251June 19, 2009November 23, 2009
Bank of LincolnwoodLincolnwoodIL17309June 5, 2009November 23, 2009
Citizens National BankMacombIL5757May 22, 2009November 23, 2009
Strategic Capital BankChampaignIL35175May 22, 2009November 23, 2009
BankUnited, FSBCoral GablesFL32247May 21, 2009November 23, 2009
Westsound BankBremertonWA34843May 8, 2009November 23, 2009
America West BankLaytonUT35461May 1, 2009November 23, 2009
Citizens Community BankRidgewoodNJ57563May 1, 2009November 23, 2009
Silverton Bank, NAAtlantaGA26535May 1, 2009November 23, 2009
First Bank of IdahoKetchumID34396April 24, 2009November 23, 2009
First Bank of Beverly HillsCalabasasCA32069April 24, 2009November 23, 2009
Michigan Heritage BankFarmington HillsMI34369April 24, 2009November 23, 2009
American Southern BankKennesawGA57943April 24, 2009November 23, 2009
Great Basin Bank of NevadaElkoNV33824April 17, 2009November 23, 2009
American Sterling BankSugar CreekMO8266April 17, 2009November 23, 2009
New Frontier BankGreeleyCO34881April 10, 2009December 23, 2009
Cape Fear BankWilmingtonNC34639April 10, 2009November 23, 2009
Omni National BankAtlantaGA22238March 27, 2009November 23, 2009
TeamBank, NAPaolaKS4754March 20, 2009November 23, 2009
Colorado National BankColorado SpringsCO18896March 20, 2009November 23, 2009
FirstCity BankStockbridgeGA18243March 20, 2009November 23, 2009
Freedom Bank of GeorgiaCommerceGA57558March 6, 2009November 23, 2009
Security Savings BankHendersonNV34820February 27, 2009November 23, 2009
Heritage Community BankGlenwoodIL20078February 27, 2009November 23, 2009
Silver Falls BankSilvertonOR35399February 20, 2009November 23, 2009
Pinnacle Bank of OregonBeavertonOR57342February 13, 2009November 23, 2009
Corn Belt Bank & Trust Co.PittsfieldIL16500February 13, 2009November 23, 2009
Riverside Bank of the Gulf CoastCape CoralFL34563February 13, 2009November 23, 2009
Sherman County BankLoup CityNE5431February 13, 2009November 23, 2009
County BankMercedCA22574February 6, 2009November 23, 2009
Alliance BankCulver CityCA23124February 6, 2009November 23, 2009
FirstBank Financial ServicesMcDonoughGA57017February 6, 2009November 23, 2009
Ocala National BankOcalaFL26538January 30, 2009November 23, 2009
Suburban FSBCroftonMD30763January 30, 2009November 23, 2009
MagnetBankSalt Lake CityUT58001January 30, 2009November 23, 2009
1st Centennial BankRedlandsCA33025January 23, 2009November 23, 2009
Bank of Clark CountyVancouverWA34959January 16, 2009November 23, 2009
National Bank of CommerceBerkeleyIL19733January 16, 2009November 23, 2009

Reuters reports:

FDIC’s problem bank list grows to 552, DIF now negative

FDIC published its quarterly banking profile today. Here are the latest banking industrystatistics at a glance. A few interesting takeaways I’d like to highlight. First, the problem bank list grew again. And it still understates total problem assets…both Citi and Bank of America should also be on this list.

The number of institutions on the FDIC’s “Problem List” rose to its highest level in 16 years. At the end of September, there were 552 insured institutions on the “Problem List,” up from 416 on June 30. This is the largest number of “problem” institutions since December 31, 1993, when there were 575 institutions on the list. Total assets of “problem” institutions increased during the quarter from $299.8 billion to $345.9 billion, the highest level since the end of 1993, when they totaled $346.2 billion. Fifty institutions failed during the third quarter, bringing the total number of failures in the first nine months of 2009 to 95.

Also, what will get lots of headlines today is that the Deposit Insurance Fund went negative as of September 30th. We already knew this to be true, and it’s not totally fair to report the negative balance without noting that FDIC does have cash. That said, the DIF is still in a very precarious position.

As projected in September, the FDIC’s Deposit Insurance Fund (DIF) balance – or the net worth of the fund – fell below zero for the first time since the third quarter of 1992. The fund balance of negative $8.2 billion as of September already reflects a $38.9 billion contingent loss reserve that has been set aside to cover estimated losses over the next year. Just as banks reserve for loan losses, the FDIC has to set aside reserves for anticipated closings over the next year. Combining the fund balance with this contingent loss reserve shows total DIF reserves with a positive balance of $30.7 billion.

Chairman Bair distinguished the DIF’s reserves from the FDIC’s cash resources, which stood at $23.3 billion of cash and marketable securities.To further bolster the DIF’s cash position, the FDIC Board approved a measure on November 12th to require insured institutions to prepay three years worth of deposit insurance premiums – about $45 billion – at the end of 2009. “This measure will provide the FDIC with the funds needed to carry on with the task of resolving failed institutions in 2010, but without accelerating the impact of assessments on the industry’s earnings and capital,” Chairman Bair said.

The DIF will continue to be negative after FDIC gets the additional $45 billion at the end of 2009. That’s not a “special assessment,” it’s the next three years’ regular assessments being collected up front. The distinction is crucial. Because it’s a regular assessment, FDIC won’t count it as new reserves for the DIF. Instead it will be counted as deferred revenue on the DIF’s balance sheet.

Why is that important? Because unlike the $5.6 billion special assessment in Q2, banks don’t have to take a hit against their capital all at once for this assessment. They get to treat it as a prepaid expense.


Although they tell us the FDIC fully insures bank accounts. The standard insurance amount currently is $250,000 per depositor.


All well & good, but at this rate & at some point the FDIC insurance $ well will run dry.

Maybe the mattress industry would do well to invent a fireproof safe/vault built into mattresses to avoid losing it all in failed banks that eventually result in a failed FDIC?


Potential names for this new mattress style:


Safe Sleep

$weet Dream$

The "Bank on It"

The Bailout




4 comments:

nonnie9999 said...

i've banked at one of the banks listed for years and years, and i didn't even know that the fdic had taken them over until i logged on one day to make some payments.

Fran said...

Yikes! The DIF or deposit ins fund in the negative is a red flag...
The FED never intended on so many banks going belly up.

I really think this mattress/safe thing might be a good idea!

D.K. Raed said...

the FDIC doesn't publish its list of troubled banks, it guards it like Fort Knox ... cuz if the word gets out about a particular bank people will run that bank dry and make a prediction become reality.

it really helps to check the ratings, like at bankrate.com and not wait until your bank makes the fdic.gov failed bank list.

like Nonnie, one of our banks failed and we only found out by accident. fortunately the FDIC made good on our deposits. still the day is coming ...

mattess tag: As an added feature, we have included extra room in our puffy top pad for you to add your own money! Sleep safe knowing your money is helping to keep your backside warm at night!

Fran said...

That does make sense that they would not release the troubled bank list.

Still that's a whole lotta banks going under.