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Bank Failures

2008 in Brief

There were 25 bank failures in 2008. See detailed descriptions below.

For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.

2008 Summary by Month

(Approximate asset dollar volume based on figures from the press releases)

Months	Dec	Dec	Dec	Nov	Nov	Nov	Nov	Nov	Oct	Oct	Oct	Oct	Sep	Sep	Sep	Aug	Aug	Aug	Jul	Jul	Jul	May	May	Mar	Jan
Bank Failures	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Approx. Asset (Millions)	572.00	237.50	37.00	12800.00	681.00	5100.00	3700.00	561.10	354.10	39.20	98.00	287.00	307000.00	2000.00	115.00	752.00	1100.00	259.00	32010.00	254.00	3400.00	2100.00	54.70	18.70	58.50

December Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
Haven Trust Bank, Duluth, GA	PR-134-2008	December 12, 2008	$572.0	$515.0	Branch Banking and Trust Company, Winston-Salem, NC assumed all deposits.
Sanderson State Bank, Sanderson, TX	PR-135-2008	December 12, 2008	$37.0	$27.9	Pecos County State Bank, Fort Stockton, TX assumed all deposits.
First Georgia Community Bank, Jackson, GA	PR-132-2008	December 5, 2008	$237.5	$197.4	United Bank, Zebulon, GA assumed all deposits.

November Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
Community Bank, Loganville, GA	PR-123-2008	November 21, 2008	$681.0	$611.4	Bank of Essex, Tappahannock, VA agreed to assume all deposits.
Downey Savings & Loan, Newport Beach, CA	PR-124-2008	November 21, 2008	$12,800.0	$9,700.0	In a transaction facilitated by the FDIC, U.S. Bank, National Association, acquired the banking operations of Downey Savings and Loan Association, and agreed to assume all deposits.
PFF Bank & Trust, Pomona, CA	PR-124-2008	November 21, 2008	$3,700.0	$2,400.0	In a transaction facilitated by the FDIC, U.S. Bank, National Association, acquired the banking operations of PFF Bank and Trust, and agreed to assume all deposits.
Franklin Bank, SSB, Houston, TX	PR-113-2008	November 7, 2008	$5,100.0	$3,700.0	Prosperity Bank, El Campo, TX agreed to assume all deposits.
Security Pacific Bank, Los Angeles, CA	PR-114-2008	November 7, 2008	$561.1	$450.1	Pacific Western Bank, Los Angeles, California agreed to assume all deposits.

October Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
Freedom Bank, Bradenton, FL	PR-109-2008	October 31, 2008	$287.0	$254.0	Fifth Third Bank of Grand Rapids, MI agreed to assume all deposits.
Alpha Bank & Trust, Alpharetta, GA	PR-106-2008	October 24, 2008	$354.1	$346.2	Stearns Bank National Association, St. Cloud, MN agreed to assume the non-brokered insured deposits.
Main Street Bank, Northville, MI	PR-98-2008	October 10, 2008	$98.0	$86.0	Monroe Bank & Trust of Monroe, MI agreed to assume all deposits.
Meridian Bank, Eldred, IL	PR-99-2008	October 10, 2008	$39.2	$36.9	National Bank of Hillsboro, IL assumed all deposits.

September Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
Washington Mutual Bank (Including its subsidiary Washington Mutual Bank FSB), Henderson, NV	PR-85-2008	September 25, 2008	$307,000.0	$188,000.0	In a transaction facilitated by the FDIC, JPMorgan Chase acquired the banking operations of Washington Mutual Bank, and agreed to assume all deposits (approximately $188 billion).
Ameribank, Northfork, WV	PR-82-2008	September 19, 2008	$115.0	$102.0	Pioneer Community Bank, Inc., Iaeger, West Virginia agreed to assume all deposits at Ameribank's WV branches; The Citizens Savings Bank, Martins Ferry, OH agreed to assume all deposits at Ameribank's Ohio branches.
Silver State Bank, Henderson, NV	PR-77-2008	September 5, 2008	$2,000.0	$1,700.0	Nevada State Bank, Las Vegas, NV agreed to assume the non-brokered insured deposits.

August Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
Integrity Bank, Alpharetta, GA	PR-74-2008	August 29, 2008	$1,100.0	$974.0	Regions Bank, Birmingham, AL agreed to assume all deposits.
Columbian Bank & Trust, Topeka, KS	PR-69-2008	August 22, 2008	$752.0	$622.0	Citizens Bank and Trust Company, Chillicothe, MO agreed to assume all insured non-brokered deposit accounts.
First Priority Bank, Bradenton, FL	PR-65-2008	August 1, 2008	$259.0	$227.0	SunTrust Bank, Atlanta, GA agreed to assume the non-brokered insured deposits.

July Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
First Heritage Bank, NA, Newport Beach, CA	PR-63-2008	July 25, 2008	$254.0	$233.0	Mutual of Omaha Bank, Omaha, NE agreed to assume all deposits (approximately $233 million).
First National Bank of Nevada, Reno, NV	PR-63-2008	July 25, 2008	$3,400.0	$3,000.0	Mutual of Omaha Bank, Omaha, Nebraska agreed to assume all deposits (approximately $3.0 billion). On June 30, 2008, First National Bank of Arizona, Scottsdale, Arizona, merged with First National Bank of Nevada and was included in this action.
IndyMac Bank, Pasadena, CA	PR-56-2008, PR-42-2009	July 11, 2008	$32,010.0	$19,060.0	Non-brokered insured deposits and substantially all of the assets were transferred to IndyMac Federal Bank, F.S.B., Pasadena, California. The FDIC was named Conservator.

May Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
First Integrity Bank, NA, Staples, MN	PR-41-2008	May 30, 2008	$54.7	$50.3	First International Bank and Trust, Watford City, ND agreed to assume all deposits.
ANB Financial, NA, Bentonville, AR	PR-33-2008	May 9, 2008	$2,100.0	$1,800.0	Pulaski Bank and Trust Company, Little Rock, AR agreed to assume the non-brokered insured deposits (approximately $212.9 million).

March Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
Hume Bank, Hume, MO	PR-21-2008	March 7, 2008	$18.7	$13.6	Security Bank, Rich Hill, MO agreed to assume the insured deposits (approximately $12.5 million).

January Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
Douglass National Bank, Kansas City, MO	PR-7-2008	January 25, 2008	$58.5	$53.8	Liberty Bank and Trust Company of New Orleans, LA agreed to assume all deposits (approximately $53.8 million).