One More FDIC Bank Closing

On Friday evening, the FDIC reported that it has taken over an additional bank (Commerce Bank of Southwest Florida) for a cost to the FDIC of around $24 million. This brings the total number of failed banks in 2009 to 124. Total deposits of all failed banks now equal $115.5 billion for 2009 and over $349 billion since the beginning of 2008, all at an estimated cost to the FDIC of just under $54 billion. Visit for more details and a full list of FDIC bank closings.

  Total Deposits Cost to the FDIC
Commerce Bank of Southwest Florida $76,700,000 $23,600,000