Three More FDIC Bank Closings
Nov 16, 2009
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 Stimulus.org for more details and a full list of FDIC bank closings.
[chart:1079]
| 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 |