Bank Failures Rise To 81 In 2010

The FDIC seized 3 more banks, raising the totaled number of failed U.S banks in 2010 to 81. FDIC Chairman Sheila Bair has said in the current banking crisis, failures will peak in 2010.

According to the FDIC bank failures from 2009 to 2013 is expected to cost $100 billion. Small(regional) banks are failing due to the loan losses from the credit boom. Many losses are result of the collapsed commercial real estate projects.

Brief Rundown;

Bank                                                                                     Assets                                   Deposits

BTierOne Bank (Nebraska)                                           $2.8 billion                       $2.2 billion
Arcola Homestead Savings Bank (Illinois)              $17.0 million                    $18.1 million
First National Bank (Mississippi)                              $60.4 million                   $63.5 million