Seven More FDIC Bank Closings
On December 18, the FDIC reported that it has taken over an additional seven banks (First Federal Bank of California, Imperial Capital Bank, Independent Bankers' Bank, New South Federal Savings Bank, Citizens State Bank, Peoples First Community Bank, RockBridge Commercial Bank) for a cost to the FDIC of about $1.8 billion. This brings the total number of failed banks in 2009 to 140. Total deposits of all failed banks now equal $137 billion for 2009 and $371 billion since the beginning of 2008, all at an estimated cost to the FDIC of about $58 billion. Visit Stimulus.org for more details and a full list of FDIC bank closings.
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| Total Deposits | Cost to the FDIC | |
| First Federal Bank of California | $4,500,000,000 | $146,300,000 |
| Imperial Capital Bank | $2,800,000,000 | $619,200,000 |
| Independent Bankers' Bank | $511,500,000 | $68,400,000 |
| New South Federal Savings Banks | $1,200,000,000 | $212,300,000 |
| Citizens State Bank | $157,100,000 | $76,600,000 |
| Peoples First Community Bank | $1,700,000,000 | $556,700,000 |
| RockBridge Commercial Bank | $291,700,000 | $124,200,000 |
| Total | $11,160,300,000 | $1,803,700,000 |