Three More FDIC Bank Closings

On Friday evening, the FDIC reported that it has taken over an additional three banks (Pacific Coast National Bank, Orion Bank, Century Bank) for a cost to the FDIC of around $1 billion. This brings the total number of failed banks in 2009 to 123. Total deposits of all failed banks now equal $115 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
Pacific Coast National Bank $130,900,000 $27,400,000
Orion Bank $2,100,000,000 $615,000,000
Century Bank $631,000,000 $344,000,000