Monday, November 8, 2010

Failed Banking System

List of Failed Banks, Updated April 9, 2010

by Flexo (♦55,480 / Platinum) on October 26, 2009. Banking 20 comments.

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Over 100 banks failed in 2009. Most of these are smaller regional banks who, in order to compete with larger banks, offered risky loans and are now facing customer defaults. Larger banks were offered government bailouts to prevent failure, but these smaller banks whose failures are not seen as major risks to the economy are left without taxpayer assistance.

The FDIC covers savings accounts, checking accounts, and certificates of deposit to ensure that customers hardly notice when one of these smaller banks fail. As long as a bank is a member of FDIC, and most are, customers should be confident that even if a bank fails, they will be able to withdraw their deposits within the coverage limit. Predicting the increase of bank failures this year, the FDIC decided over a year ago to increase its insurance limits. In 2008, only 26 banks failed compared to over 100 in 2009.

Although there is often worry in the press that FDIC is underfunded and might run out of money, that situation is highly unlikely. The FDIC is requiring banks to start paying their FDIC premiums which have largely been ignored for decades to increase its available funds. The FDIC also has an extensive line of credit with the Treasury, and because Congress will always vote to make sure the FDIC will be able to cover necessary expenses, it is in effect a limitless credit line.

Here is a full list of banks that have failed since 2000. I will update this list as necessary.

Bank ↓Location ↓Failed Date ↓
Beach First National BankMyrtle Beach, SCApril 9, 2010
Desert Hills BankPhoenix, AZMarch 26, 2010
Unity National BankCartersville, GAMarch 26, 2010
Key West BankKey West, FLMarch 26, 2010
McIntosh Commercial BankCarrollton, GAMarch 26, 2010
State Bank of AuroraAurora, MNMarch 19, 2010
First Lowndes BankFort Deposit, ALMarch 19, 2010
Bank of HiawasseeHiawassee, GAMarch 19, 2010
Appalachian Community BankEllijay, GAMarch 19, 2010
Advanta Bank Corp.Draper, UTMarch 19, 2010
Century Security BankDuluth, GAMarch 19, 2010
American National BankParma, OHMarch 19, 2010
Statewide BankCovington, LAMarch 12, 2010
Old Southern BankOrlando, FLMarch 12, 2010
The Park Avenue BankNew York, NYMarch 12, 2010
LibertyPointe BankNew York, NYMarch 11, 2010
Centennial BankOgden, UTMarch 5, 2010
Waterfield BankGermantown, MDMarch 5, 2010
Bank of IllinoisNormal, ILMarch 5, 2010
Sun American BankBoca Raton, FLMarch 5, 2010
Rainier Pacific BankTacoma, WAFebruary 26, 2010
Carson River Community BankCarson City, NVFebruary 26, 2010
La Jolla Bank, FSBLa Jolla, CAFebruary 19, 2010
George Washington Savings BankOrland Park, ILFebruary 19, 2010
The La Coste National BankLa Coste, TXFebruary 19, 2010
Marco Community BankMarco Island, FLFebruary 19, 2010
1st American State Bank of MinnesotaHancock, MNFebruary 5, 2010
American Marine BankBainbridge Island, WAJanuary 29, 2010
First Regional BankLos Angeles, CAJanuary 29, 2010
Community Bank and TrustCornelia, GAJanuary 29, 2010
Marshall Bank, N.A.Hallock, MNJanuary 29, 2010
Florida Community BankImmokalee, FLJanuary 29, 2010
First National Bank of GeorgiaCarrollton, GAJanuary 29, 2010
Columbia River BankThe Dalles, ORJanuary 22, 2010
Evergreen BankSeattle, WAJanuary 22, 2010
Charter BankSanta Fe, NMJanuary 22, 2010
Bank of LeetonLeeton, MOJanuary 22, 2010
Premier American BankMiami, FLJanuary 22, 2010
Barnes Banking CompanyKaysville, UTJanuary 15, 2010
St. Stephen State BankSt. Stephen, MNJanuary 15, 2010
Town Community Bank & TrustAntioch, ILJanuary 15, 2010
Horizon BankBellingham, WAJanuary 8, 2010
First Federal Bank of California, F.S.B.Santa Monica, CADecember 18, 2009
Imperial Capital BankLa Jolla, CADecember 18, 2009
Independent Bankers’ BankSpringfield, ILDecember 18, 2009
New South Federal Savings BankIrondale, ALDecember 18, 2009
Citizens State BankNew Baltimore, MIDecember 18, 2009
Peoples First Community BankPanama City, FLDecember 18, 2009
RockBridge Commercial BankAtlanta, GADecember 18, 2009
SolutionsBankOverland Park, KSDecember 11, 2009
Valley Capital Bank, N.A.Mesa, AZDecember 11, 2009
Republic Federal Bank, N.A.Miami, FLDecember 11, 2009
Greater Atlantic BankReston, VADecember 4, 2009
Benchmark BankAurora, ILDecember 4, 2009
AmTrust BankCleveland, OHDecember 4, 2009
The Tattnall BankReidsville, GADecember 4, 2009
First Security National BankNorcross, GADecember 4, 2009
The Buckhead Community BankAtlanta, GADecember 4, 2009
Commerce Bank of Southwest FloridaFort Myers, FLNovember 20, 2009
Pacific Coast National BankSan Clemente, CANovember 13, 2009
Orion BankNaples, FLNovember 13, 2009
Century Bank, F.S.B.Sarasota, FLNovember 13, 2009
United Commercial BankSan Francisco, CANovember 6, 2009
Gateway Bank of St. LouisSt. Louis, MONovember 6, 2009
Prosperan BankOakdale, MNNovember 6, 2009
Home Federal Savings BankDetroit, MINovember 6, 2009
United Security BankSparta, GANovember 6, 2009
North Houston BankHouston, TXOctober 30, 2009
Madisonville State BankMadisonville, TXOctober 30, 2009
Citizens National BankTeague, TXOctober 30, 2009
Park National BankChicago, ILOctober 30, 2009
Pacific National BankSan Francisco, CAOctober 30, 2009
California National BankLos Angeles, CAOctober 30, 2009
San Diego National BankSan Diego, CAOctober 30, 2009
Community Bank of LemontLemont, ILOctober 30, 2009
Bank USA, N.A.Phoenix, AZOctober 30, 2009
First DuPage BankWestmont, ILOctober 23, 2009
Riverview Community BankOtsego, MNOctober 23, 2009
Bank of ElmwoodRacine, WIOctober 23, 2009
Flagship National BankBradenton, FLOctober 23, 2009
Hillcrest Bank FloridaNaples, FLOctober 23, 2009
American United BankLawrenceville, GAOctober 23, 2009
Partners BankNaples, FLOctober 23, 2009
San Joaquin BankBakersfield, CAOctober 16, 2009
Southern Colorado National BankPueblo, COOctober 2, 2009
Jennings State BankSpring Grove, MNOctober 2, 2009
Warren BankWarren, MIOctober 2, 2009
Georgian BankAtlanta, GASeptember 25, 2009
Irwin Union Bank, F.S.B.Louisville, KYSeptember 18, 2009
Irwin Union Bank and Trust CompanyColumbus, INSeptember 18, 2009
Venture BankLacey, WASeptember 11, 2009
Brickwell Community BankWoodbury, MNSeptember 11, 2009
Corus Bank, N.A.Chicago, ILSeptember 11, 2009
First State BankFlagstaff, AZSeptember 4, 2009
Platinum Community BankRolling Meadows, ILSeptember 4, 2009
Vantus BankSioux City, IASeptember 4, 2009
InBankOak Forest, ILSeptember 4, 2009
First Bank of Kansas CityKansas City, MOSeptember 4, 2009
Affinity BankVentura, CAAugust 28, 2009
Mainstreet BankForest Lake, MNAugust 28, 2009
Bradford BankBaltimore, MDAugust 28, 2009
Guaranty BankAustin, TXAugust 21, 2009
CapitalSouth BankBirmingham, ALAugust 21, 2009
First Coweta BankNewnan, GAAugust 21, 2009
ebankAtlanta, GAAugust 21, 2009
Community Bank of NevadaLas Vegas, NVAugust 14, 2009
Community Bank of ArizonaPhoenix, AZAugust 14, 2009
Union Bank, National AssociationGilbert, AZAugust 14, 2009
Colonial BankMontgomery, ALAugust 14, 2009
Dwelling House Savings and Loan AssociationPittsburgh, PAAugust 14, 2009
Community First BankPrineville, ORAugust 7, 2009
Community National Bank of Sarasota CountyVenice, FLAugust 7, 2009
First State BankSarasota, FLAugust 7, 2009
Mutual BankHarvey, ILJuly 31, 2009
First BankAmericanoElizabeth, NJJuly 31, 2009
Peoples Community BankWest Chester, OHJuly 31, 2009
Integrity BankJupiter, FLJuly 31, 2009
First State Bank of AltusAltus, OKJuly 31, 2009
Security Bank of Jones CountyGray, GAJuly 24, 2009
Security Bank of Houston CountyPerry, GAJuly 24, 2009
Security Bank of Bibb CountyMacon, GAJuly 24, 2009
Security Bank of North MetroWoodstock, GAJuly 24, 2009
Security Bank of North FultonAlpharetta, GAJuly 24, 2009
Security Bank of Gwinnett CountySuwanee, GAJuly 24, 2009
Waterford Village BankWilliamsville, NYJuly 24, 2009
Temecula Valley BankTemecula, CAJuly 17, 2009
Vineyard BankRancho Cucamonga, CAJuly 17, 2009
BankFirstSioux Falls, SDJuly 17, 2009
First Piedmont BankWinder, GAJuly 17, 2009
Bank of WyomingThermopolis, WYJuly 10, 2009
Founders BankWorth, ILJuly 2, 2009
Millennium State Bank of TexasDallas, TXJuly 2, 2009
First National Bank of DanvilleDanville, ILJuly 2, 2009
Elizabeth State BankElizabeth, ILJuly 2, 2009
Rock River BankOregon, ILJuly 2, 2009
First State Bank of WinchesterWinchester, ILJuly 2, 2009
John Warner BankClinton, ILJuly 2, 2009
Mirae BankLos Angeles, CAJune 26, 2009
MetroPacific BankIrvine, CAJune 26, 2009
Horizon BankPine City, MNJune 26, 2009
Neighborhood Community BankNewnan, GAJune 26, 2009
Community Bank of West GeorgiaVilla Rica, GAJune 26, 2009
First National Bank of AnthonyAnthony, KSJune 19, 2009
Cooperative BankWilmington, NCJune 19, 2009
Southern Community BankFayetteville, GAJune 19, 2009
Bank of LincolnwoodLincolnwood, ILJune 5, 2009
Citizens National BankMacomb, ILMay 22, 2009
Strategic Capital BankChampaign, ILMay 22, 2009
BankUnited, FSBCoral Gables, FLMay 21, 2009
Westsound BankBremerton, WAMay 8, 2009
America West BankLayton, UTMay 1, 2009
Citizens Community BankRidgewood, NJMay 1, 2009
Silverton Bank, NAAtlanta, GAMay 1, 2009
First Bank of IdahoKetchum, IDApril 24, 2009
First Bank of Beverly HillsCalabasas, CAApril 24, 2009
Michigan Heritage BankFarmington Hills, MIApril 24, 2009
American Southern BankKennesaw, GAApril 24, 2009
Great Basin Bank of NevadaElko, NVApril 17, 2009
American Sterling BankSugar Creek, MOApril 17, 2009
New Frontier BankGreeley, COApril 10, 2009
Cape Fear BankWilmington, NCApril 10, 2009
Omni National BankAtlanta, GAMarch 27, 2009
TeamBank, NAPaola, KSMarch 20, 2009
Colorado National BankColorado Springs, COMarch 20, 2009
FirstCity BankStockbridge, GAMarch 20, 2009
Freedom Bank of GeorgiaCommerce, GAMarch 6, 2009
Security Savings BankHenderson, NVFebruary 27, 2009
Heritage Community BankGlenwood, ILFebruary 27, 2009
Silver Falls BankSilverton, ORFebruary 20, 2009
Pinnacle Bank of OregonBeaverton, ORFebruary 13, 2009
Corn Belt Bank & Trust Co.Pittsfield, ILFebruary 13, 2009
Riverside Bank of the Gulf CoastCape Coral, FLFebruary 13, 2009
Sherman County BankLoup City, NEFebruary 13, 2009
County BankMerced, CAFebruary 6, 2009
Alliance BankCulver City, CAFebruary 6, 2009
FirstBank Financial ServicesMcDonough, GAFebruary 6, 2009
Ocala National BankOcala, FLJanuary 30, 2009
Suburban FSBCrofton, MDJanuary 30, 2009
MagnetBankSalt Lake City, UTJanuary 30, 2009
1st Centennial BankRedlands, CAJanuary 23, 2009
Bank of Clark CountyVancouver, WAJanuary 16, 2009
National Bank of CommerceBerkeley, ILJanuary 16, 2009
Sanderson State BankSanderson, TXDecember 12, 2008
Haven Trust BankDuluth, GADecember 12, 2008
First Georgia Community BankJackson, GADecember 5, 2008
PFF Bank & TrustPomona, CANovember 21, 2008
Downey Savings & LoanNewport Beach, CANovember 21, 2008
Community BankLoganville, GANovember 21, 2008
Security Pacific BankLos Angeles, CANovember 7, 2008
Franklin Bank, SSBHouston, TXNovember 7, 2008
Freedom BankBradenton, FLOctober 31, 2008
Alpha Bank & TrustAlpharetta, GAOctober 24, 2008
Meridian BankEldred, ILOctober 10, 2008
Main Street BankNorthville, MIOctober 10, 2008
Washington Mutual Bank (and FSB)Henderson, NVSeptember 25, 2008
AmeribankNorthfork, WVSeptember 19, 2008
Silver State BankHenderson, NVSeptember 5, 2008
Integrity BankAlpharetta, GAAugust 29, 2008
Columbian Bank & TrustTopeka, KSAugust 22, 2008
First Priority BankBradenton, FLAugust 1, 2008
First Heritage Bank, NANewport Beach, CAJuly 25, 2008
First National Bank of NevadaReno, NVJuly 25, 2008
IndyMac BankPasadena, CAJuly 11, 2008
First Integrity Bank, NAStaples, MNMay 30, 2008
ANB Financial, NABentonville, ARMay 9, 2008
Hume BankHume, MOMarch 7, 2008
Douglass National BankKansas City, MOJanuary 25, 2008
Miami Valley BankLakeview, OHOctober 4, 2007
NetBankAlpharetta, GASeptember 28, 2007
Metropolitan Savings BankPittsburgh, PAFebruary 2, 2007
Bank of EphraimEphraim, UTJune 25, 2004
Reliance BankWhite Plains, NYMarch 19, 2004
Guaranty National BankTallahassee, FLMarch 12, 2004
Dollar Savings BankNewark, NJFebruary 14, 2004
Pulaski Savings BankPhiladelphia, PANovember 14, 2003
First National Bank of BlanchardvilleBlanchardville, WIMay 9, 2003
Southern Pacific BankTorrance, CAFebruary 7, 2003
Farmers Bank of CheneyvilleCheneyville, LADecember 17, 2002
Bank of AlamoAlamo, TNNovember 8, 2002
AmTrade International BankAtlanta, GASeptember 30, 2002
Universal Federal Savings BankChicago, ILJune 27, 2002
Connecticut Bank of CommerceStamford, CTJune 26, 2002
New Century BankShelby Township, MIMarch 28, 2002
Net 1st National BankBoca Raton, FLMarch 1, 2002
NextBank, NAPhoenix, AZFebruary 7, 2002
Oakwood Deposit Bank Co.Oakwood, OHFebruary 1, 2002
Bank of Sierra BlancaSierra Blanca, TXJanuary 18, 2002
Hamilton Bank, NAMiami, FLJanuary 11, 2002
Sinclair National BankGravette, ARSeptember 7, 2001
Superior Bank, FSBHinsdale, ILJuly 27, 2001
Malta National BankMalta, OHMay 3, 2001
First Alliance Bank & Trust Co.Manchester, NHFebruary 2, 2001
National State Bank of MetropolisMetropolis, ILDecember 14, 2000
Bank of HonoluluHonolulu, HIOctober 13, 2000

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