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 Stimulus.org for more details and a full list of FDIC bank closings.
|Total Deposits||Cost to the FDIC|
|Valley Capital Bank||$41,300,000||$7,400,000|
|Republic Federal Bank||352,700,000||$122,600,000|