Tuesday, June 23, 2009

Is Your Money Safe?

Below is a list of all the US banks that have closed this year, with the most recent ones first.

A total of 40 banks have failed so far in 2009, versus 25 for all of 2008.

Failed Banks 2009
Bank Location Date Closed Assets Cost to FDIC
First National Bank of Anthony Anthony, Kan. 6/19/09 $156.9 mil. $32.2 mil.
Cooperative Bank Wilmington, N.C. 6/19/09 $970 mil. $217 mil.
Southern Community Bank Fayetteville, Ga. 6/19/09 $377 mil. $114 mil.
Bank of Lincolnwood Lincolnwood, Ill. 6/5/09 $214 mil. $83 mil.
Citizens National Bank Macomb, Ill. 5/22/09 $437 mil. $106 mil.
Strategic Capital Bank Champaign, Ill. 5/22/09 $537 mil. $173 mil.
BankUnited, FSB Coral Gables, Fla. 5/21/09 $12.80 bil. $4.9 bil.
Westsound Bank Bremerton, Wash. 5/8/09 $334.6 mil. $108 mil.
America West Bank Layton, Utah 5/1/09 $299.4 mil. $119.4 mil.
Citizens Community Bank Ridgewood, N.J. 5/1/09 $45.1 mil. $18.1 mil.
Silverton Bank, N.A. Atlanta, Ga. 5/1/09 $4.1 bil. $1.3 bil.
First Bank of Idaho Ketchum, Idaho 4/24/09 $488.9 mil. $191.2 mil.
First Bank of Beverly Hills Calabasas, Calif. 4/24/09 $1.5 bil. $394 mil.
Michigan Heritage Bank Farmington Hills, Mich. 4/24/09 $184.6 mil. $71.3 mil.
American Southern Bank Kennesaw, Ga. 4/24/09 $112.3 mil. $41.9 mil.
Great Basin Bank of Nevada Elko, Nev. 4/17/09 $270.9 mil. $42 mil.
American Sterling Bank Sugar Creek, Mo. 4/17/09 $181 mil. $42 mil.
New Frontier Bank Greeley, Colo. 4/10/09 $2.0 bil. $670 mil.
Cape Fear Bank Wilmington, N.C. 4/10/09 $492 mil. $131 mil.
Omni National Bank Atlanta, Ga. 3/27/09 $956 mil. $290 mil.
TeamBank, National Association Paola, Kan. 3/20/09 $669.8 mil. $98 mil.
Colorado National Bank Colorado Springs, Colo. 3/20/09 $123.5 mil. $9 mil.
FirstCity Bank Stockbridge, Ga. 3/20/09 $297 mil. $100 mil.
Freedom Bank of Georgia Commerce, Ga. 3/6/09 $173 mil. $36.2 mil.
Security Savings Bank Henderson, Nev. 2/27/09 $238.3 mil. $59.1 mil.
Heritage Community Bank Glenwood, Ill. 2/27/09 $232.9 mil. $41.6 mil.
Silver Falls Bank Silverton, Ore. 2/20/09 $131.4 mil. $50 mil.
Pinnacle Bank of Oregon Beaverton, Ore. 2/13/09 $73 mil. $12.1 mil.
Corn Belt Bank and Trust Company Pittsfield, Ill. 2/13/09 $271.8 mil. $100 mil.
Riverside Bank of the Gulf Coast Cape Coral, Fla. 2/13/09 $539 mil. $201.5 mil.
Sherman County Bank Loup City, Neb. 2/13/09 $129.8 mil. $28.0 mil.
County Bank Merced, Calif. 2/6/09 $1.7 bil. $135 mil.
Alliance Bank Culver City, Calif. 2/6/09 $1.14 bil. $206.0 mil.
FirstBank Financial Services McDonough, Ga. 2/6/09 $337 mil. $111 mil.
Ocala National Bank Ocala, Fla. 1/30/09 $223.5 mil. $99.6 mil.
Suburban Federal Savings Bank Crofton, Md. 1/30/09 $360 mil. $126 mil.
MagnetBank Salt Lake City, Utah 1/30/09 $292.9 mil. $119.4 mil.
1st Centennial Bank Redlands, Calif. 1/23/09 $803.3 mil. $227 mil.
Bank of Clark County Vancouver, Wash. 1/16/09 $446.5 mil. $120-$145 mil.
National Bank of Commerce Berkeley, Ill. 1/16/09 $430.9 mil. $97.1 mil.


So now that I can do the research and find out who's closed, would you like to know who's staying open?

Remember this is just me talking (Writing) out loud:
Bank of America
Chase
Wells Fargo
Citibank / Citigroup
Goldman Sachs (international/National Banking and Asset management)


Beyond those, nothing shocks me. Even B of A has had major exposure issues.

-Christopher Rockey

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