Four More FDIC Bank Closings
Mar 8, 2010 | Economics
On Friday evening, the FDIC reported that it has taken over an additional four banks (Centennial Bank, Waterfield Bank, Bank of Illinois, Sun American Bank) for a cost to the FDIC of about $305 million. This brings the total number of failed banks since the beginning of 2008 to 192. Total deposits of all failed banks now equal $13.6 billion for 2010 and $384 billion since the beginning of 2008, all at an estimated cost to the FDIC of $63 billion. Visit Stimulus.org for more details and a full list of FDIC bank closings.
[chart:1079]
| Total Deposits | Cost to the FDIC | |
| Centennial Bank | $205,100,000 | $96,300,000 |
| Waterfield Bank | $156,400,000 | $51,000,000 |
| Bank of Illinois | $198,500,000 | $53,700,000 |
| Sun American Bank | $443,500,000 | $103,800,000 |
| Total | $1,003,500,000 | $304,800,000 |
