Four More FDIC Bank Takeovers

On Friday evening, the FDIC reported that it has taken over an additional four banks (La Jolla Bank, George Washington Savings Bank, The La Coste National Bank, Marco Community Bank) for a cost to the FDIC of over $1 billion. This brings the total number of failed banks since the beginning of 2008 to 186. Total deposits of all failed banks now equal over $12 billion for 2010 and $383 billion since the beginning of 2008, all at an estimated cost to the FDIC of about $62.5 billion. Visit for more details and a full list of FDIC bank closings.

  Total Deposits Cost to the FDIC
La Jolla Bank $2,800,000,000 $882,300,000
George Washington Savings Bank $395,300,000 $141,400,000
The La Coste National Bank $49,300,000 $3,700,000
Marco Community Bank $117,100,000 $38,100,000
Total $3,361,700,000 $1,065,500,000