Four More FDIC Bank Closings

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 for more details and a full list of FDIC bank closings.

  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