Failed Bank List

When an FDIC insured bank fails, the FDIC will generally be appointed as the receiver. Generally, the FDIC will immediately solicit bids from other institutions interested in acquiring the bank. An acquisition can usually be arranged so that the failed bank will reopen as a branch of the acquiring bank before most customers realize what happened.

The pace of bank failures has been increasing dramatically over the past two years. A total of 140 institutions failed during 2009, the largest number of bank failures since 1992 when 181 banks were closed.  During all of 2008  there were 25 bank failures.  There were only 3 bank failures during all of 2007.  No banks failed during 2005 and 2006.

The number of failed institutions in 2010 now totals 118 banks including the latest 8 banking  failures for the week ending August 20, 2010.  The cost to the FDIC Deposit Insurance Fund (DIF) for the 118 banking failures to date in 2010 now totals $19.5 billion.

Ultimately, depositors are insured by the FDIC. The standard insurance amount of $250,000 per depositor is in effect through December 31, 2013.  On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.  The old standard coverage limit of $100,000 per depositor had been temporarily increased due to turmoil in the financial markets.  Lawmakers recently agreed to make the temporary increase in FDIC deposit insurance permanent  (see FDIC Insurance Limits To Permanently Increase).   The old limit of $100,000 deposit insurance had not been increased since 1980.

Below you will find a list of failed banks from 2007 to present.