Bank Failures Rise To 138

The FDIC seized four more banks, raising the totaled number of failed U.S banks in 2009 to 138.

Small(regional) banks are failing nearly every week due to the loan losses from the credit boom.

Brief Rundown;

Bank                                                                                Assets                       Deposits
RockBridge Commercial Bank (Atlanta)              $294 million           $291.7 million
New South Federal Savings Bank (Alabama)     $1.5 billion             $1.2 billion
Citizens State Bank (Michigan)                              $168.6 million       $157.1 million
Peoples First Community Bank (Florida)             $1.8 billion             $1.7 billion
Independent Bankers’ Bank (Illinois)                   $585.5 million       $511.5 million
Imperial Capital (California)                                   $4 billion                  $2.8 billion

According to the FDIC Los Angeles-based City National Bank has agreed to acquire all of the deposits of Imperial Capital, as well as $3.3 billion of the failed bank’s assets.

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Tags: Bank Failures, fdic

This entry was posted on December 18, 2009 at December 18, 2009 and is filed under Banks. You can follow any responses to this entry through the RSS 2.0 feed.