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 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