Three More FDIC Closings

On Friday evening, the FDIC reported that it has taken over an additional three banks (Solutions Bank, Valley Capital Bank, Republic Federal Bank) for a cost to the FDIC of about $252 million. This brings the total number of failed banks in 2009 to 133. Total deposits of all failed banks now equal $125.7 billion for 2009 and almost $360 billion since the beginning of 2008, all at an estimated cost to the FDIC of about $56.4 billion. Visit for more details and a full list of FDIC bank closings.

  Total Deposits Cost to the FDIC
Solutions Bank $421,300,000 $122,100,000
Valley Capital Bank $41,300,000 $7,400,000
Republic Federal Bank 352,700,000 $122,600,000
Total $815,300,000 $252,100,000