Four More FDIC Bank Closings
Mar 15, 2010 | Economics
On Friday evening, the FDIC reported that it has taken over an additional four banks (Statewide Bank, Old Southern Bank, The Park Avenue Bank, LibertyPointe Bank) for a cost to the FDIC of about $200 million. This brings the total number of failed banks since the beginning of 2008 to 196. Total deposits of all failed banks now equal $14.8 billion for 2010 and $386 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 | |
| Statewide Bank | $208,800,000 | $38,100,000 |
| Old Southern Bank | $319,700,000 | $94,600,000 |
| The Park Avenue Bank | $494,500,000 | $50,700,000 |
| LibertyPointe Bank | $209,500,000 | $24,800,000 |
| Total | $1,232,500,000 | $208,200,000 |
