Regulators closed four banks in Tennessee, Minnesota and Florida, bringing the total for the year to seven. Tennessee, with two bank closings, had previously not had a single bank failure since 2002.  The combined assets of the two failed banks in Tennessee totaled $1.5 billion.  Tennessee Commerce Bank of Franklin, TN, became the first billion dollar bank failure of 2012.  Last [...]

A total of 92 banks failed during 2011, signaling a continuation of the crisis in the banking industry.  Although total banking failures during 2011 declined from the previous year, the number remains historically high.  The last time more than 50 banks failed in one year was 1992 or 20 years ago. The complete list of 2011 banking failures is listed below followed by some interesting [...]

The continued decline in real estate values and aggressive lending during the real estate boom continue to haunt the banking industry.  Regulators closed four banks in three states this week bringing the total banking failures for the year to 84. Two banks were closed in Georgia which now accounts for 26% of all U.S. banking failures this year.  Two additional banks were closed [...]

Regulators across the nation had a busy Friday evening, closing four banks in four different states. This week’s banking failures increase the total number of failed banks for 2011 to 80.  During 2010, regulators closed a total of 157 banks across the nation.  The FDIC is optimistically predicting a much lower number of banking failures over the next five years, but there [...]

The most severe financial crisis since the 1930′s resulted in a nationwide drop in real estate values and the largest number of banking failures since 1992.  The huge buildup of debt that fueled the bubble in real estate prices has resulted in a record number of mortgage defaults and foreclosures. During 2010, a total of 157 banking failures occurred in 30 different states [...]

November 5, 2010 – A nationwide drop in real estate values combined with an all time high in mortgage defaults and foreclosures have resulted in banking failures across 28 States.  As of November 5, there were a total of 143 banking failures in the US and Puerto Rico. The five States with the greatest number of banking failures are Florida with 27, Illinois with 16, [...]

October 1, 2010 – Shoreline Bank, Shoreline, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the FDIC as receiver.  The FDIC entered into a purchase and assumption agreement with GBC International Bank, Los Angeles, California, to assume all deposits and a portion of failed Shoreline’s assets. According to GBC’s [...]

September 24, 2010 – Banking failures in Washington and Florida brought the nation’s total number of banking failures to 127. The State of Florida remains unchallenged as the nation’s top state for banking failures.  With this week’s failure of Haven Trust Bank Florida, Florida now accounts for nearly 20% of the total banking failures for 2010. The latest [...]

A nationwide drop in real estate values combined with an all time high in mortgage defaults and foreclosures have resulted in banking failures across 28 States.  As of September 17, there were a total of 125 banking failures in the US and Puerto Rico. The five States with the greatest number of banking failures are Florida with 23, Illinois with 15, Georgia with 14, California [...]

August 20, 2010 -Imperial Savings and Loan Association, Martinsville, Virginia, was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver.  Imperial Savings was purchased by another local bank, River Community Bank, N.A., Martinsville, Virginia, which will assume all deposits and purchase essentially all assets of the failed bank. Imperial Savings, [...]