One More FDIC Bank Closing
On Friday evening, the FDIC reported that it has taken over an additional bank (Georgian Bank) for a cost to the FDIC of around $892 million. This brings the total number of failed banks since the beginning of 2008 to 111. Total deposits of all failed banks now equal $87.08 billion for 2009 and over $321 billion since the beginning of 2008, all at an estimated cost to the FDIC of just under $48 billion. Visit Stimulus.org for more details and a full list of FDIC bank closings.
| Total Deposits | Cost to the FDIC | |
| Georgian Bank | $2,000,000,000 | $892,000,000 |