Six More FDIC Bank Closings

On Friday evening, the FDIC reported that it has taken over an additional five banks (American Marine Bank, First Regional Bank, Community Bank and Trust, Marshall Bank, Florida Community Bank, First National Bank of Georgia) for a cost to the FDIC of about $1.9 billion. This brings the total number of failed banks since the beggning of 2008 to 181. Total deposits of all failed banks now equal $8.7 billion for 2010 and $380 billion since the beginning of 2008, all at an estimated cost to the FDIC of about $61 billion. Visit for more details and a full list of FDIC bank closings.

  Total Deposits Cost to the FDIC
American Marine Bank $308,500,000 $58,900,000
First Regional Bank $1,087,000,000 $825,500,000
Community Bank and Trust $1,110,000,000 $354,500,000
Marshall Bank $54,700,000 $4,100,000
Florida Community Bank $795,500,000 $352,600,000
First National bank of Georgia $757,900,000 $260,000,000
Total $4,113,600,000 $1,856,000,000