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Banks Failing at an Alarming Rate

General Shenanigans, Ramblings July 26, 2008 9:00 AM 0 comments

Friday Jul 25th marked the failing of new more banks. This makes 7 banks total this year. Since October 2000, 36 banks have failed. That means 20% of the banks that have failed in the last 8 years, have failed THIS YEAR.

You have to go back to 1999 to find more banks that failed in a year. Eight banks failed that year, but we are only 1/2 through the year!

Table from FDIC.gov:

Bank Name Closing Date Updated Date
First Heritage Bank, NA, Newport Beach, CA July 25, 2008 July 25, 2008
First National Bank of Nevada, Reno, NV July 25, 2008 July 25, 2008
IndyMac Bank, Pasadena, CA July 11, 2008 July 11, 2008
First Integrity Bank, NA, Staples, MN May 30, 2008 July 25, 2008
ANB Financial, NA, Bentonville, AR May 9, 2008 July 25, 2008
Hume Bank, Hume, MO March 7, 2008 July 25, 2008

Douglass National Bank, Kansas City, MO

January 25, 2008 July 25, 2008
Miami Valley Bank, Lakeview, OH October 4, 2007 July 25, 2008
NetBank, Alpharetta, GA September 28, 2007 July 25, 2008
Metropolitan Savings Bank, Pittsburgh, PA February 2, 2007 July 25, 2008
Bank of Ephraim, Ephraim, UT June 25, 2004 April 9, 2008
Reliance Bank, White Plains, NY March 19, 2004

April 9, 2008

Guaranty National Bank of Tallahassee, Tallahassee, FLMarch 12, 2004 July 25, 2008
Dollar Savings Bank, Newark, New Jersey February 14, 2004 April 9, 2008
Pulaski Savings Bank, Philadelphia, PA November 14, 2003 July 22, 2005
The First National Bank of Blanchardville, Blanchardville, WI May 9, 2003 July 25, 2008
Southern Pacific Bank, Torrance, CA February 7, 2003 July 25, 2008
The Farmers Bank of Cheneyville, Cheneyville, LA December 17, 2002 October 20, 2004
The Bank of Alamo, Alamo, TN November 8, 2002 March 18, 2005
AmTrade International Bank of Georgia, Atlanta, GA September 30, 2002 September 11, 2006
AmTrade International Bank of Georgia, Atlanta, GA
Spanish Version
September 30, 2002 September 11, 2006
Universal Federal Savings Bank, Chicago, IL June 27, 2002 April 9, 2008
Connecticut Bank of Commerce, Stamford, CT June 26, 2002 July 25, 2008
New Century Bank, Shelby Township, MI March 28, 2002 March 18, 2005
Net 1st National Bank, Boca Raton, FL March 1, 2002 April 9, 2008
NextBank, N.A., Phoenix, AZ February 7, 2002 July 25, 2008
Oakwood Deposit Bank Company, Oakwood, OH February 1, 2002 July 25, 2008
Bank of Sierra Blanca, Sierra Blanca, TX January 18, 2002 November 6, 2003
Hamilton Bank, N.A., Miami, FL
Spanish Version
January 11, 2002 July 25, 2008
Sinclair National Bank, Gravette, AR September 7, 2001 February 10, 2004
Superior Bank, FSB, Hinsdale, IL July 27, 2001 July 25, 2008
The Malta National Bank, Malta, OH May 3, 2001 November 18, 2002
First Alliance Bank & Trust Company, Manchester, NH February 2, 2001 February 18, 2003
National State Bank of Metropolis, Metropolis, IL December 14, 2000 March 17, 2005
Bank of Honolulu, Honolulu, HI October 13, 2000 March 17, 2005

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