A Decade of Recovery: Understanding Bank Failures After the 2008 Crisis (2009-2024)
Zainab Polan,
2 years ago
16 min read
The 2008 financial crisis left a deep scar on the global economy.Recollections of bank collapses during the Great Depression instilled fear. This blog post dives into bank failures that occurred between 2009 and 2024, a period marked by significant recovery and reform in the banking industry.
What Happens During a Bank Failure?
Imagine you entrust your money to a bank, like putting it in a secure vault.A bank failure happens when the bank is unable to meet its financial commitments. This means it can’t pay back the deposited money to its customers. This can happen due to various reasons, including bad loans, risky investments, or economic downturns.
The Fallout of 2008: A Wave of Bank Closures
The 2008 crisis exposed reckless lending practices by many financial institutions. This resulted in a wave of bank failures in the early years following the crash. According to the Federal Deposit Insurance Corporation (FDIC), there were a staggering 489 bank failures between 2008 and 2012. Risky loans went sour, leaving banks with bad debts they couldn’t manage.
The FDIC: Your Financial Safety Net
But there’s good news! The Federal Deposit Insurance Corporation (FDIC) acts as a safety net for depositors. The majority of banks in the United States are insured by the FDIC.This means your money is insured for up to a certain amount, currently capped at $250,000 per depositor. So, even if a bank fails, your money is protected, up to that limit.
A Period of Increased Stability (Post-2009)
Following the crisis, stricter regulations were implemented to prevent similar situations from happening again. Banks adopted more responsible lending practices and focused on building stronger financial reserves.This led to a notable decrease in bank failures post-2009.The FDIC reports a dramatic decrease, with only 6 bank failures in 2020.
Beyond the Numbers: The Human Impact
While the numbers show a decline in bank failures, it’s important to acknowledge the human impact. According to a study by the FDIC, over 1.5 million jobs were lost in the financial services industry during the peak years of bank failures. Additionally, access to credit for small businesses and local economies was severely disrupted. The recovery, while positive, took time for many communities.
A Closer Look at Recent Events: 2023 and 2024
The year 2023 saw a surprising shift. After a period of relative stability, the industry witnessed several significant bank failures. Silicon Valley Bank, a major player in the tech industry, collapsed in March 2023, holding over $42 billion in deposits exceeding the FDIC insurance limit. This was followed by the failure of Signature Bank, another prominent institution. Later in the year, First Republic Bank, a large California bank, also failed. These high-profile failures raised concerns about potential weaknesses in the system, particularly for larger institutions with a high concentration of uninsured deposits.
Protecting Yourself: Tips for Depositors
Here are some essential tips to keep your money safe in the banking system:
Check for FDIC Insurance: Before opening an account, verify that the bank is FDIC-insured. You can find this information on the bank’s website or by checking the FDIC’s website directly.
Spread Your Deposits: Don’t keep all your eggs in one basket! Consider distributing your deposits among various FDIC-insured banks. This way, even if one bank fails, your money will still be protected up to the FDIC limit for each bank.
Stay Informed: Financial news can be complex, but keeping yourself informed about potential risks can help you make informed decisions about your money.
Beware of Scams: Regrettably, scammers frequently aim at bank accounts. Exercise caution when divulging your financial details online or via phone. Never click on suspicious links or attachments in emails, and avoid giving out your account details unless you’re absolutely certain you’re dealing with a legitimate representative of your bank.
Consider Additional Security Measures: Some banks offer additional security features, such as two-factor authentication for logins and transaction alerts. Utilizing these features can provide an extra layer of security for your funds.
List of failed banks from 2009 – 2020
2020 list of failed banks
| Failed banks | Date closed |
|---|---|
| Almena State Bank, Almena, Kan. | 10/23/2020 |
| First City Bank of Florida, Fort Walton Beach, Fla. | 10/16/2020 |
| The First State Bank, Barboursville, W.Va. | 04/03/2020 |
| Ericson State Bank, Ericson, Neb. | 02/14/2020 |
2019 list of failed banks
| Failed banks | Date closed |
|---|---|
| City National Bank of New Jersey, Newark | 11/1/2019 |
| Resolute Bank, Maumee, Ohio | 10/25/2019 |
| Louisa Community Bank, Louisa, Ky. | 10/25/2019 |
| The Enloe State Bank, Cooper, Texas | 05/31/2019 |
2018 list of failed banks
| Failed banks | Date closed |
|---|---|
| None | N/A |
2017 list of failed banks
| Failed banks | Date closed |
|---|---|
| Washington Federal Bank for Savings, Chicago | 12/15/2017 |
| The Farmers and Merchants State Bank of Argonia, Argonia, Kan. | 10/13/2017 |
| Fayette County Bank, Saint Elmo, Ill. | 05/26/2017 |
| Guaranty Bank, (dba BestBank in Georgia and Michigan), Milwaukee | 05/05/2017 |
| First NBC Bank, New Orleans | 04/28/2017 |
| Proficio Bank, Cottonwood Heights, Utah | 03/03/2017 |
| Seaway Bank & Trust Co., Chicago | 01/27/2017 |
| Harvest Community Bank, Pennsville, N.J. | 01/13/2017 |
2016 list of failed banks
| Failed banks | Date closed |
|---|---|
| Allied Bank, Mulberry, Ark. | 09/23/2016 |
| The Woodbury Banking Company, Woodbury, Ga. | 08/19/2016 |
| First CornerStone Bank, King of Prussia, Pa. | 05/06/2016 |
| Trust Company Bank, Memphis, Tenn. | 04/29/2016 |
| North Milwaukee State Bank, Milwaukee | 03/11/2016 |
2015 list of failed banks
| Failed banks | Date closed |
|---|---|
| Hometown National Bank, Longview, Wash. | 10/02/2015 |
| The Bank of Georgia, Peachtree City, Ga. | 10/02/2015 |
| Premier Bank, Denver | 07/10/2015 |
| Edgebrook Bank, Chicago | 05/08/2015 |
| Doral Bank, San Juan, Puerto Rico | 02/27/2015 |
| Capitol City Bank & Trust Co., Atlanta | 02/13/2015 |
| Highland Community Bank, Chicago | 01/23/2015 |
| First National Bank of Crestview, Crestview, Fla. | 01/16/2015 |
2014 list of failed banks
| Failed banks | Date closed |
|---|---|
| Northern Star Bank, Mankato, Minn. | 12/19/2014 |
| Frontier Bank (dba El Paseo Bank), Palm Desert, Calif. | 11/07/2014 |
| The National Republic Bank of Chicago | 10/24/2014 |
| NBRS Financial, Rising Sun, Md. | 10/17/2014 |
| GreenChoice Bank, Chicago | 07/25/2014 |
| Eastside Commercial Bank, Conyers, Ga. | 07/18/2014 |
| The Freedom State Bank, Freedom, Okla. | 06/27/2014 |
| Valley Bank, Fort Lauderdale, Fla. | 06/20/2014 |
| Valley Bank, Moline, Ill. | 06/20/2014 |
| Slavie Federal Savings Bank, Bel Air, Md. | 05/30/2014 |
| Columbia Savings Bank, Cincinnati | 05/23/2014 |
| AztecAmerica Bank, Berwyn, Ill. | 05/16/2014 |
| Allendale County Bank, Fairfax, S.C. | 04/25/2014 |
| Vantage Point Bank, Horsham, Pa. | 02/28/2014 |
| Millennium Bank, Sterling, Va. | 02/28/2014 |
| Syringa Bank, Boise, Idaho | 01/31/2014 |
| The Bank of Union, El Reno, Okla. | 01/24/2014 |
| DuPage National Bank, West Chicago, Ill. | 01/17/2014 |
2013 list of failed banks
| Failed banks | Date closed |
|---|---|
| Texas Community Bank, The Woodlands, Texas | 12/13/2013 |
| Bank of Jackson County, Graceville, Fla. | 10/30/2013 |
| First National Bank, Edinburg, Texas | 9/13/2013 |
| The Community’s Bank, Bridgeport, Conn. | 9/13/2013 |
| Sunrise Bank of Arizona, Phoenix | 8/23/2013 |
| Community South Bank, Parsons, Tenn. | 8/23/2013 |
| Bank of Wausau, Wausau, Wis. | 8/9/2013 |
| First Community Bank of Southwest Florida (also operating as Community Bank of Cape Coral), Ft. Myers | 8/2/2013 |
| Mountain National Bank, Sevierville, Tenn. | 6/7/2013 |
| 1st Commerce Bank, North Las Vegas, Nev. | 6/6/2013 |
| Banks of Wisconsin (dba Bank of Kenosha), Kenosha | 5/31/2013 |
| Central Arizona Bank, Scottsdale, Ariz. | 5/14/2013 |
| Sunrise Bank, Valdosta, Ga. | 5/10/2013 |
| Pisgah Community Bank, Asheville, N.C. | 5/10/2013 |
| Douglas County Bank, Douglasville, Ga. | 4/26/2013 |
| Parkway Bank, Lenoir, N.C. | 4/26/2013 |
| Chipola Community Bank, Marianna, Fla. | 4/19/2013 |
| Heritage Bank of North Florida, Orange Park | 4/19/2013 |
| First Federal Bank, Lexington, Ky. | 4/19/2013 |
| Gold Canyon Bank, Gold Canyon, Ariz. | 4/5/2013 |
| Frontier Bank, LaGrange, Ga. | 3/8/2013 |
| Covenant Bank, Chicago | 2/15/2013 |
| 1st Regents Bank, Andover, Minn. | 1/18/2013 |
| Westside Community Bank, University Place, Wash. | 1/11/2013 |
2012 list of failed banks
| Failed banks | Date closed |
|---|---|
| Community Bank of the Ozarks, Sunrise Beach, Mo. | 12/14/2012 |
| Hometown Community Bank, Braselton, Ga. | 11/16/2012 |
| Citizens First National Bank, Princeton, Ill. | 11/2/2012 |
| Heritage Bank of Florida, Lutz, Fla. | 11/2/2012 |
| NOVA Bank, Berwyn, Pa. | 10/26/2012 |
| Excel Bank, Sedalia, Mo. | 10/19/2012 |
| First East Side Savings Bank, Tamarac, Fla. | 10/19/2012 |
| GulfSouth Private Bank, Destin, Fla. | 10/19/2012 |
| First United Bank, Crete, Ill. | 9/28/2012 |
| Truman Bank, St. Louis | 9/14/2012 |
| First Commercial Bank, Bloomington, Minn. | 9/7/2012 |
| Waukegan Savings Bank, Waukegan, Ill. | 8/3/2012 |
| Jasper Banking Company, Jasper, Ga. | 7/27/2012 |
| Second Federal Savings and Loan Association of Chicago | 7/20/2012 |
| Heartland Bank, Leawood, Kan. | 7/20/2012 |
| First Cherokee State Bank, Woodstock, Ga. | 7/20/2012 |
| Georgia Trust Bank, Buford, Ga. | 7/20/2012 |
| The Royal Palm Bank, Naples, Fla. | 7/20/2012 |
| Glasgow Savings Bank, Glasgow, Mo. | 7/13/2012 |
| Montgomery Bank & Trust, Ailey, Ga. | 7/6/2012 |
| The Farmers Bank of Lynchburg, Lynchburg, Tenn. | 6/15/2012 |
| Security Exchange Bank, Marietta, Ga. | 6/15/2012 |
| Putnam State Bank, Palatka, Fla. | 6/15/2012 |
| Waccamaw Bank, Whiteville, N.C. | 6/8/2012 |
| Farmers’ and Traders’ State Bank, Shabbona, Ill. | 6/8/2012 |
| Carolina Federal Savings Bank, Charleston, S.C. | 6/8/2012 |
| First Capital Bank, Kingfisher, Okla. | 6/8/2012 |
| Alabama Trust Bank, Sylacuaga, Ala. | 5/18/2012 |
| Security Bank, North Lauderdale, Fla. | 5/4/2012 |
| Palm Desert National Bank, Palm Desert, Calif. | 4/27/2012 |
| Plantation Federal Bank, Pawleys Island, S.C. | 4/27/2012 |
| Inter Savings Bank, Maple Grove, Minn. | 4/27/2012 |
| HarVest Bank of Maryland, Gaithersburg, Md. | 4/27/2012 |
| Bank of the Eastern Shore, Cambridge, Md. | 4/27/2012 |
| Fort Lee Federal Savings Bank, Fort Lee, N.J. | 4/20/2012 |
| Fidelity Bank, Dearborn, Mich. | 3/30/2012 |
| Covenant Bank & Trust, Rock Spring, Ga. | 3/23/2012 |
| Premier Bank, Wilmette, Ill. | 3/23/2012 |
| New City Bank, Chicago | 3/9/2012 |
| Global Commerce Bank, Doraville, Ga. | 3/2/2012 |
| Home Savings of America, Little Falls, Minn. | 2/24/2012 |
| Central Bank of Georgia, Ellaville, Ga. | 2/24/2012 |
| SCB Bank, Shelbyville, Ind | 2/10/2012 |
| Charter National Bank and Trust, Barrington, Ill. | 2/10/2012 |
| BankEast, Knoxville, Tenn. | 1/27/2012 |
| Patriot Bank Minnesota, Forest Lake, Minn. | 1/27/2012 |
| Tennessee Commerce Bank, Franklin, Tenn. | 1/27/2012 |
| First Guaranty Bank & Trust Company of Jacksonville, Jacksonville, Fla. | 1/27/2012 |
| American Eagle Savings Bank, Boothwyn, Pa. | 1/20/2012 |
| The First State Bank, Stockbridge, Ga. | 1/20/2012 |
| Central Florida State Bank, Belleview | 1/20/2012 |
2011 list of failed banks
| Failed banks | Date closed |
|---|---|
| Western National Bank, Phoenix | 12/16/2011 |
| Premier Community Bank of the Emerald Coast, Crestview, Fla. | 12/16/2011 |
| Central Progressive Bank, Lacombe, La. | 11/18/2011 |
| Polk County Bank, Johnston, Iowa | 11/18/2011 |
| Community Bank of Rockmart, Rockmart, Ga. | 11/10/2011 |
| SunFirst Bank, St. George, Utah | 11/4/2011 |
| Mid City Bank Inc., Omaha, Neb. | 11/4/2011 |
| All American Bank, Des Plaines, Ill. | 10/28/2011 |
| Community Banks of Colorado, Greenwood Village | 10/21/2011 |
| Community Capital Bank, Jonesboro, Ga. | 10/21/2011 |
| Decatur First Bank, Decatur, Ga. | 10/21/2011 |
| Old Harbor Bank, Clearwater, Fla. | 10/21/2011 |
| Country Bank, Aledo, Ill. | 10/14/2011 |
| First State Bank, Cranford, N.J. | 10/14/2011 |
| Blue Ridge Savings Bank, Asheville, N.C. | 10/14/2011 |
| Piedmont Community Bank, Gray, Ga. | 10/14/2011 |
| Sun Security Bank, Ellington, Mo. | 10/07/2011 |
| The RiverBank, Wyoming, Minn. | 10/07/2011 |
| First International Bank, Plano, Texas | 9/30/2011 |
| Citizens Bank of Northern California, Nevada City | 9/23/2011 |
| Bank of the Commonwealth, Norfolk, Va. | 9/23/2011 |
| The First National Bank of Florida, Milton, Fla. | 9/09/2011 |
| CreekSide Bank, Woodstock, Ga. | 9/02/2011 |
| Patriot Bank of Georgia, Cumming, Ga. | 9/02/2011 |
| First Choice Bank, Geneva, Ill. | 8/19/2011 |
| First Southern National Bank, Statesboro, Ga. | 8/19/2011 |
| Lydian Private Bank, Palm Beach, Fl. | 8/19/2011 |
| Public Savings Bank, Huntingdon Valley, Pa. | 8/18/2011 |
| The First National Bank of Olathe, Olathe, Kan. | 8/12/2011 |
| Bank of Whitman, Colfax, Wash. | 8/5/2011 |
| Bank of Shorewood, Shorewood, Ill. | 8/5/2011 |
| Integra Bank, Evansville, Ind. | 7/29/2011 |
| BankMeridian, Columbia, S.C. | 7/29/2011 |
| Virginia Business Bank, Richmond, Va. | 7/22/2011 |
| Bank of Choice, Greeley, Colo. | 7/22/2011 |
| LandMark Bank of Florida, Sarasota, Fla. | 7/22/2011 |
| Southshore Community Bank, Apollo Beach, Fla. | 7/22/2011 |
| Summit Bank, Prescott, Ariz. | 7/15/2011 |
| First Peoples Bank, Port St. Lucie, Fla. | 7/15/2011 |
| High Trust Bank, Stockbridge, Ga. | 7/15/2011 |
| One Georgia Bank, Atlanta, Ga. | 7/15/2011 |
| Signature Bank, Windsor, Colo. | 7/8/2011 |
| Colorado Capital Bank, Castle Rock, Colo. | 7/8/2011 |
| First Chicago Bank & Trust, Chicago | 7/8/2011 |
| Mountain Heritage Bank, Clayton, Ga. | 6/24/2011 |
| First Commercial Bank of Tampa Bay, Tampa, Fla. | 6/17/2011 |
| McIntosh State Bank, Jackson, Ga. | 6/17/2011 |
| Atlantic Bank & Trust, Charleston, S.C. | 6/3/2011 |
| First Heritage Bank, Snohomish, Wash. | 5/27/2011 |
| Summit Bank, Burlington, Wash. | 5/20/2011 |
| First Georgia Banking Company, Franklin, Ga. | 5/20/2011 |
| Atlantic Southern Bank, Macon, Ga. | 5/20/2011 |
| Coastal Bank, Cocoa Beach, Fla. | 5/6/2011 |
| Community Central Bank, Mount Clemens, Mich. | 4/29/2011 |
| The Park Avenue Bank, Valdosta, Ga. | 4/29/2011 |
| First Choice Community Bank, Dallas, Ga. | 4/29/2011 |
| Cortez Community Bank, Brooksville, Fla. | 4/29/2011 |
| First National Bank of Central Florida, Winter Park, Fla. | 4/29/2011 |
| Heritage Banking Group, Carthage, Miss. | 4/15/2011 |
| Rosemount National Bank, Rosemount, Minn. | 4/15/2011 |
| Superior Bank, Birmingham, Ala. | 4/15/2011 |
| Nexity Bank, Birmingham, Ala. | 4/15/2011 |
| New Horizons Bank, East Ellijay, Ga. | 4/15/2011 |
| Bartow County Bank, Cartersville, Ga. | 4/15/2011 |
| Nevada Commerce Bank, Las Vegas | 4/8/2011 |
| Western Springs National Bank & Trust, Western Springs, Ill. | 4/8/2011 |
| The Bank of Commerce, Wood Dale, Ill. | 3/25/2011 |
| Legacy Bank, Milwaukee, Wis. | 3/11/2011 |
| First National Bank of Davis, Davis, Okla. | 3/11/2011 |
| Valley Community Bank, St. Charles, Ill. | 2/25/2011 |
| San Luis Trust Bank, San Luis Obispo, Calif. | 2/18/2011 |
| Charter Oaks Bank, Napa, Calif. | 2/18/2011 |
| Citizens Bank of Effingham, Springfield, Ga. | 2/18/2011 |
| Habersham Bank, Clarksville, Ga. | 2/18/2011 |
| Canyon National Bank, Palm Springs, Calif. | 2/11/2011 |
| Badger State Bank, Cassville, Wis. | 2/11/2011 |
| Peoples State Bank, Hamtramck, Mich. | 2/11/2011 |
| Sunshine State Community Bank, Port Orange, Fla. | 2/11/2011 |
| Community First Bank Chicago | 2/4/2011 |
| North Georgia Bank, Watkinsville, Ga. | 2/4/2011 |
| American Trust Bank, Roswell, Ga. | 2/4/2011 |
| First Community Bank, Taos, N.M. | 1/28/2011 |
| FirsTier Bank, Louisville, Colo. | 1/28/2011 |
| Evergreen State Bank, Stoughton, Wis. | 1/28/2011 |
| The First State Bank, Camargo, Okla. | 1/28/2011 |
| United Western Bank, Denver | 1/21/2011 |
| The Bank of Asheville, Asheville, N.C. | 1/21/2011 |
| CommunitySouth Bank and Trust, Easley, S.C. | 1/21/2011 |
| Enterprise Banking Company, McDonough, Ga. | 1/21/2011 |
| Oglethorpe Bank, Brunswick, Ga. | 1/14/2011 |
| Legacy Bank, Scottsdale, Ariz. | 1/7/2011 |
| First Commercial Bank of Florida, Orlando | 1/7/2011 |
2010 list of failed banks
| Failed banks | Date closed |
|---|---|
| Community National Bank, Lino Lakes, Minn. | 12/17/2010 |
| First Southern Bank, Batesville, Ark. | 12/17/2010 |
| United Americas Bank, Atlanta | 12/17/2010 |
| Appalachian Community Bank, McCaysville, Ga. | 12/17/2010 |
| Chestatee State Bank, Dawsonville, Ga. | 12/17/2010 |
| The Bank of Miami, Coral Gables, Fla. | 12/17/2010 |
| Earthstar Bank, Southampton, Pa. | 12/10/2010 |
| Paramount Bank, Farmington Hills, Mich. | 12/10/2010 |
| First Banking Center, Burlington, Wis. | 11/19/2010 |
| Allegiance Bank of North America, Bala Cynwyd, Pa. | 11/19/2010 |
| Gulf State Community Bank, Carrabelle, Fla. | 11/19/2010 |
| Copper Star Bank, Scottsdale, Ariz. | 11/12/2010 |
| Darby Bank & Trust Co., Vidalia, Ga. | 11/12/2010 |
| Tifton Banking Company, Tifton, Ga. | 11/12/2010 |
| First Vietnamese American Bank, Westminster, Calif. | 11/5/2010 |
| Pierce Commercial Bank, Tacoma, Wash. | 11/5/2010 |
| Western Commercial Bank, Woodland Hills, Calif. | 11/5/2010 |
| K Bank, Randallstown, Md. | 11/5/2010 |
| First Arizona Savings, Scottsdale, Ariz. | 10/22/2010 |
| Hillcrest Bank, Overland Park, Kan. | 10/22/2010 |
| First Suburban National Bank, Maywood, Ill. | 10/22/2010 |
| The First National Bank of Barnesville, Barnesville, Ga. | 10/22/2010 |
| The Gordon Bank, Gordon, Ga. | 10/22/2010 |
| Progress Bank of Florida, Tampa | 10/22/2010 |
| First Bank of Jacksonville, Jacksonville, Fla. | 10/22/2010 |
| Premier Bank, Jefferson City, Mo. | 10/15/2010 |
| WestBridge Bank & Trust Co., Chesterfield, Mo. | 10/15/2010 |
| Security Savings Bank, Olathe, Kan. | 10/15/2010 |
| Shoreline Bank, Shoreline, Wash. | 10/1/2010 |
| Wakulla Bank, Crawfordville, Fla. | 10/1/2010 |
| North County Bank, Arlington, Wash. | 9/24/2010 |
| Haven Trust Bank Florida, Ponte Verde Beach, Fla. | 9/24/2010 |
| Maritime Savings Bank, West Allis, Wis. | 9/17/2010 |
| Bramble Savings Bank, Milford, Ohio | 9/17/2010 |
| The Peoples Bank, Winder, Ga. | 9/17/2010 |
| First Commerce Community Bank, Douglasville, Ga. | 9/17/2010 |
| Bank of Ellijay, Ellijay, Ga. | 9/17/2010 |
| ISN Bank, Cherry Hill, N.J. | 9/17/2010 |
| Horizon Bank, Bradenton, Fla. | 9/10/2010 |
| Sonoma Valley Bank, Sonoma, Calif. | 8/20/2010 |
| Los Padres Bank, Solvang, Calif. | 8/20/2010 |
| Butte Community Bank, Chico, Calif. | 8/20/2010 |
| Pacific State Bank, Stockton, Calif. | 8/20/2010 |
| ShoreBank, Chicago | 8/20/2010 |
| Imperial Savings and Loan Association, Martinsville, Va. | 8/20/2010 |
| Independent National Bank, Ocala, Fla. | 8/20/2010 |
| Community National Bank at Bartow, Bartow, Fla. | 8/20/2010 |
| Palos Bank and Trust Company, Palos Heights, Ill. | 8/13/2010 |
| Ravenswood Bank, Chicago | 8/6/2010 |
| LibertyBank, Eugene, Ore. | 7/30/2010 |
| The Cowlitz Bank, Longview, Wash. | 7/30/2010 |
| Coastal Community Bank, Panama City Beach, Fla. | 7/30/2010 |
| Bayside Savings Bank, Port St. Joe, Fla. | 7/30/2010 |
| NorthWest Bank and Trust, Acworth, Ga. | 7/30/2010 |
| Home Valley Bank, Cave Junction, Ore. | 7/23/2010 |
| SouthwestUSA Bank, Las Vegas | 7/23/2010 |
| Community Security Bank, New Prague, Minn. | 7/23/2010 |
| Thunder Bank, Sylvan Grove, Kan. | 7/23/2010 |
| Williamsburg First National Bank, Kingstree, S.C. | 7/23/2010 |
| Crescent Bank and Trust Company, Jasper, Ga. | 7/23/2010 |
| Sterling Bank, Lantana, Fla. | 7/23/2010 |
| Mainstreet Savings Bank, Hastings, Mich. | 7/16/2010 |
| Olde Cypress Community Bank, Clewiston, Fla. | 7/16/2010 |
| Turnberry Bank, Aventura, Fla. | 7/16/2010 |
| Metro Bank of Dade County, Miami | 7/16/2010 |
| First National Bank of the South, Spartanburg, S.C. | 7/16/2010 |
| Woodlands Bank, Bluffton, S.C. | 7/16/2010 |
| Home National Bank, Blackwell, Okla. | 7/09/2010 |
| USA Bank, Port Chester, N.Y. | 7/09/2010 |
| Ideal Federal Savings Bank, Baltimore, Md. | 7/09/2010 |
| Bay National Bank, Baltimore, Md. | 7/09/2010 |
| High Desert State Bank, Albuquerque, N.M. | 6/25/2010 |
| First National Bank, Savannah, Ga. | 6/25/2010 |
| Peninsula Bank, Englewood, Fla. | 6/25/2010 |
| Nevada Security Bank, Reno | 6/18/2010 |
| Washington First International Bank, Seattle | 6/11/2010 |
| TierOne Bank, Lincoln, Neb. | 6/04/2010 |
| Arcola Homestead Savings Bank, Arcola, Ill. | 6/04/2010 |
| First National Bank, Rosedale, Miss. | 6/04/2010 |
| Sun West Bank, Las Vegas | 5/28/2010 |
| Granite Community Bank Granite Bay, Calif. | 5/28/2010 |
| Bank of Florida – Tampa | 5/28/2010 |
| Bank of Florida – Southwest, Naples | 5/28/2010 |
| Bank of Florida – Southeast, Fort Lauderdale | 5/28/2010 |
| Pinehurst Bank, Saint Paul, Minn. | 5/21/2010 |
| Midwest Bank & Trust Co., Elmwood Park, Ill. | 5/14/2010 |
| Southwest Community Bank, Springfield, Mo. | 5/14/2010 |
| New Liberty Bank, Plymouth, Mich. | 5/14/2010 |
| Satilla Community Bank, Saint Marys, Ga. | 5/14/2010 |
| 1st Pacific Bank of California, San Diego | 5/07/2010 |
| Towne Bank of Arizona, Mesa | 5/07/2010 |
| Access Bank, Champlin, Minn. | 5/07/2010 |
| The Bank of Bonifay, Bonifay, Fla. | 5/07/2010 |
| Frontier Bank, Everett, Wash. | 4/30/2010 |
| BC National Banks, Butler, Mo. | 4/30/2010 |
| Champion Bank, Creve Coeur, Mo. | 4/30/2010 |
| CF Bancorp, Port Huron, Mich. | 4/30/2010 |
| Westernbank Puerto Rico, Mayaguez | 4/30/2010 |
| R-G Premier Bank of Puerto Rico, Hato Rey | 4/30/2010 |
| Eurobank, San Juan, Puerto Rico | 4/30/2010 |
| Wheatland Bank, Naperville, Ill. | 4/23/2010 |
| Peotone Bank & Trust Co., Peotone, Ill. | 4/23/2010 |
| Lincoln Park Savings Bank, Chicago | 4/23/2010 |
| New Century Bank, Chicago | 4/23/2010 |
| Citizens Bank & Trust Co. of Chicago | 4/23/2010 |
| Broadway Bank, Chicago | 4/23/2010 |
| Amcore Bank, Rockford, Ill. | 4/23/2010 |
| City Bank, Lynnwood, Wash. | 4/16/2010 |
| Tamalpais Bank, San Rafael, Calif. | 4/16/2010 |
| Innovative Bank, Oakland, Calif. | 4/16/2010 |
| Butler Bank, Lowell, Mass. | 4/16/2010 |
| Riverside National Bank of Florida, Fort Pierce | 4/16/2010 |
| AmericanFirst Bank, Clermont, Fla. | 4/16/2010 |
| First Federal Bank of North Florida, Palatka | 4/16/2010 |
| Lakeside Community Bank, Sterling Heights, Mich. | 4/16/2010 |
| Beach First National Bank, Myrtle Beach, S.C. | 4/09/2010 |
| Desert Hills Bank, Phoenix | 3/26/2010 |
| Unity National Bank, Cartersville, Ga. | 3/26/2010 |
| Key West Bank, Key West, Fla. | 3/26/2010 |
| McIntosh Commercial Bank, Carrollton, Ga. | 3/26/2010 |
| State Bank of Aurora, Aurora, Minn. | 3/19/2010 |
| First Lowndes Bank, Fort Deposit, Ala. | 3/19/2010 |
| Bank of Hiawassee, Hiawassee, Ga. | 3/19/2010 |
| Appalachian Community Bank, Ellijay, Ga. | 3/19/2010 |
| Advanta Bank Corp, Draper, Utah | 3/19/2010 |
| Century Security Bank, Duluth, Minn. | 3/19/2010 |
| American National Bank, Parma, Ohio | 3/19/2010 |
| Statewide Bank, Covington, La. | 3/12/2010 |
| Old Southern Bank, Orlando, Fla. | 3/12/2010 |
| The Park Avenue Bank, New York | 3/12/2010 |
| LibertyPointe Bank, New York | 3/11/2010 |
| Centennial Bank, Ogden, Utah | 3/5/2010 |
| Waterfield Bank, Germantown, Md. | 3/5/2010 |
| Bank of Illinois, Normal | 3/5/2010 |
| Sun American Bank, Boca Raton, Fla. | 3/5/2010 |
| Rainier Pacific Bank, Tacoma, Wash. | 2/26/2010 |
| Carson River Community Bank, Carson City, Nev. | 2/26/2010 |
| La Jolla Bank, La Jolla, Calif. | 2/19/2010 |
| George Washington Savings Bank, Orland Park, Ill. | 2/19/2010 |
| The La Coste National Bank, La Coste, Texas | 2/19/2010 |
| Marco Community Bank, Marco Island, Fla. | 2/19/2010 |
| First American State Bank of Minnesota, Hancock | 2/05/2010 |
| American Marine Bank, Bainbridge Island, Wash. | 1/29/2010 |
| First Regional Bank, Los Angeles | 1/29/2010 |
| Community Bank & Trust, Cornelia, Ga. | 1/29/2010 |
| Marshall Bank, Hallock, Minn. | 1/29/2010 |
| Florida Community Bank, Immokalee, Florida | 1/29/2010 |
| First National Bank of Georgia, Carrollton | 1/29/2010 |
| Columbia River Bank, The Dalles, Ore. | 1/22/2010 |
| Evergreen Bank, Seattle | 1/22/2010 |
| Charter Bank, Santa Fe, N.M. | 1/22/2010 |
| Bank of Leeton, Leeton, Mo. | 1/22/2010 |
| Premier American Bank, Miami, Fla. | 1/22/2010 |
| Barnes Banking Company, Kaysville, Utah | 1/15/2010 |
| St. Stephen State Bank, St. Stephen, Minn. | 1/15/2010 |
| Town Community Bank & Trust, Antioch, Ill. | 1/15/2010 |
| Horizon Bank, Bellingham, Wash. | 1/08/2010 |
2009 list of failed banks
| Failed banks | Date closed |
|---|---|
| First Federal Bank of California, Santa Monica | 12/18/2009 |
| Imperial Capital Bank, La Jolla, Calif. | 12/18/2009 |
| Independent Bankers’ Bank, Springfield, Ill. | 12/18/2009 |
| New South Federal Savings Bank, Irondale, Ala. | 12/18/2009 |
| Citizens State Bank, New Baltimore, Mich. | 12/18/2009 |
| Peoples First Community Bank, Panama City, Fla. | 12/18/2009 |
| RockBridge Commercial Bank, Atlanta | 12/18/2009 |
| SolutionsBank, Overland Park, Kan. | 12/11/2009 |
| Valley Capital Bank, Mesa, Az. | 12/11/2009 |
| Republic Federal Bank, Miami | 12/11/2009 |
| Greater Atlantic Bank, Reston, Va. | 12/04/2009 |
| Benchmark Bank, Aurora, Ill. | 12/04/2009 |
| AmTrust Bank, Cleveland | 12/04/2009 |
| The Tattnall Bank, Reidsville, Ga. | 12/04/2009 |
| First Security National Bank, Norcross, Ga. | 12/04/2009 |
| The Buckhead Community Bank, Atlanta | 12/04/2009 |
| Commerce Bank of Southwest Florida, Fort Myers, Fla. | 11/20/2009 |
| Pacific Coast National Bank, San Clemente, Calif. | 11/13/2009 |
| Orion Bank, Naples, Fla. | 11/13/2009 |
| Century Bank, a Federal Savings Bank, Sarasota, Fla. | 11/13/2009 |
| United Commercial Bank, San Francisco | 11/6/2009 |
| Gateway Bank of St. Louis | 11/6/2009 |
| Prosperan Bank, Oakdale, Minn. | 11/6/2009 |
| Home Federal Savings Bank, Detroit | 11/6/2009 |
| United Security Bank, Sparta, Ga. | 11/6/2009 |
| North Houston Bank, Houston | 10/30/2009 |
| Madisonville State Bank, Madisonville, Texas | 10/30/2009 |
| Citizens National Bank, Teague, Texas | 10/30/2009 |
| Park National Bank, Chicago | 10/30/2009 |
| Pacific National Bank, San Francisco | 10/30/2009 |
| California National Bank, Los Angeles | 10/30/2009 |
| San Diego National Bank, San Diego | 10/30/2009 |
| Community Bank of Lemont, Lemont, Ill. | 10/30/2009 |
| Bank USA, Phoenix | 10/30/2009 |
| First DuPage Bank, Westmont, Ill. | 10/23/2009 |
| Riverview Community Bank, Otsego, Minn. | 10/23/2009 |
| Bank of Elmwood, Racine, Wis. | 10/23/2009 |
| Flagship National Bank, Bradenton, Fla. | 10/23/2009 |
| Hillcrest Bank Florida, Naples | 10/23/2009 |
| American United Bank, Lawrenceville, Ga. | 10/23/2009 |
| Partners Bank, Naples, Fla. | 10/23/2009 |
| San Joaquin Bank, Bakersfield, Calif. | 10/16/2009 |
| Southern Colorado National Bank, Pueblo, Colo. | 10/2/2009 |
| Jennings State Bank, Spring Grove, Minn. | 10/2/2009 |
| Warren Bank, Warren, Mich. | 10/2/2009 |
| Georgian Bank, Atlanta | 9/25/2009 |
| Irwin Union Bank, Louisville, Ky. | 9/18/2009 |
| Irwin Union Bank & Trust Co., Columbus, Ind. | 9/18/2009 |
| Venture Bank, Lacey, Wash. | 9/11/2009 |
| Brickwell Community Bank, Woodbury, Minn. | 9/11/2009 |
| Corus Bank, Chicago | 9/11/2009 |
| First State Bank, Flagstaff, Ariz. | 9/4/2009 |
| Platinum Community Bank, Rolling Meadows, Ill. | 9/4/2009 |
| Vantus Bank, Sioux City, Iowa | 9/4/2009 |
| InBank, Oak Forest, Ill. | 9/4/2009 |
| First Bank of Kansas City, Kansas City, Mo. | 9/4/2009 |
| Affinity Bank, Ventura, Calif. | 8/28/2009 |
| Mainstreet Bank, Forest Lake, Minn. | 8/28/2009 |
| Bradford Bank, Baltimore | 8/28/2009 |
| Guaranty Bank, Austin, Texas | 8/21/2009 |
| CapitalSouth Bank, Birmingham, Ala. | 8/21/2009 |
| First Coweta Bank, Newman, Ga. | 8/21/2009 |
| EBank, Atlanta | 8/21/2009 |
| Community Bank of Nevada, Las Vegas | 8/14/2009 |
| Community Bank of Arizona, Phoenix | 8/14/2009 |
| Union Bank, Gilbert, Ariz. | 8/14/2009 |
| Colonial Bank, Montgomery, Ala. | 8/14/2009 |
| Dwelling House Savings and Loan Association, Pittsburgh | 8/14/2009 |
| Community First Bank, Prineville, Ore. | 8/7/2009 |
| Community National Bank of Sarasota County, Venice, Fla. | 8/7/2009 |
| First State Bank, Sarasota, Fla. | 8/7/2009 |
| Mutual Bank, Harvey, Ill. | 7/31/2009 |
| First BankAmericano, Elizabeth, N.J. | 7/31/2009 |
| Peoples Community Bank, West Chester, Ohio | 7/31/2009 |
| Integrity Bank, Jupiter, Fla. | 7/31/2009 |
| First State Bank of Altus, Altus, Okla. | 7/31/2009 |
| Security Bank of Jones County, Gray, Ga. | 7/24/2009 |
| Security Bank of Houston County, Perry, Ga. | 7/24/2009 |
| Security Bank of Bibb County, Macon, Ga. | 7/24/2009 |
| Security Bank of North Metro, Woodstock, Ga. | 7/24/2009 |
| Security Bank of North Fulton, Alpharetta, Ga. | 7/24/2009 |
| Security Bank of Gwinnett County, Suwanee, Ga. | 7/24/2009 |
| Waterford Village Bank, Williamsville, N.Y. | 7/24/2009 |
| Temecula Valley Bank, Temecula, Calif. | 7/17/2009 |
| Vineyard Bank, Rancho Cucamonga, Calif. | 7/17/2009 |
| BankFirst, Sioux Falls, S.D. | 7/17/2009 |
| First Piedmont Bank, Winder, Ga. | 7/17/2009 |
| Bank of Wyoming, Thermopolis, Wyo. | 7/10/2009 |
| Founders Bank, Worth, Ill. | 7/2/2009 |
| Millennium State Bank of Texas, Dallas | 7/2/2009 |
| The First National Bank of Danville, Danville, Ill. | 7/2/2009 |
| The Elizabeth State Bank, Elizabeth, Ill. | 7/2/2009 |
| Rock River Bank, Oregon, Ill. | 7/2/2009 |
| The First State Bank of Winchester, Winchester, Ill. | 7/2/2009 |
| The John Warner Bank, Clinton, Ill. | 7/2/2009 |
| Mirae Bank, Los Angeles | 6/26/2009 |
| MetroPacific Bank, Irvine, Calif. | 6/26/2009 |
| Horizon Bank, Pine City, Minn. | 6/26/2009 |
| Neighborhood Community Bank, Newnan, Ga. | 6/26/2009 |
| Community Bank of West Georgia, Villa Rica, Ga. | 6/26/2009 |
| First National Bank of Anthony, Anthony, Kan. | 6/19/2009 |
| Cooperative Bank, Wilmington, N.C. | 6/19/2009 |
| Southern Community Bank, Fayetteville, Ga. | 6/19/2009 |
| Bank of Lincolnwood, Lincolnwood, Ill. | 6/5/2009 |
| Citizens National Bank, Macomb, Ill. | 5/22/2009 |
| Strategic Capital Bank, Champaign, Ill. | 5/22/2009 |
| BankUnited, Coral Gables, Fla. | 5/21/2009 |
| Westsound Bank, Bremerton, Wash. | 5/8/2009 |
| America West Bank, Layton, Utah | 5/1/2009 |
| Citizens Community Bank, Ridgewood, N.J. | 5/1/2009 |
| Silverton Bank, Atlanta, Ga. | 5/1/2009 |
| First Bank of Idaho, Ketchum | 4/24/2009 |
| First Bank of Beverly Hills, Calabasas, Calif. | 4/24/2009 |
| Michigan Heritage Bank, Farmington Hills, Mich. | 4/24/2009 |
| American Southern Bank, Kennesaw, Ga. | 4/24/2009 |
| Great Basin Bank of Nevada, Elko, Nev. | 4/17/2009 |
| American Sterling Bank, Sugar Creek, Mo. | 4/17/2009 |
| New Frontier Bank, Greeley, Colo. | 4/10/2009 |
| Cape Fear Bank, Wilmington, N.C. | 4/10/2009 |
| Omni National Bank, Atlanta | 3/27/2009 |
| Teambank, Paola, Kan. | 3/20/2009 |
| Colorado National Bank, Colorado Springs, Colo. | 3/20/2009 |
| FirstCity Bank, Stockbridge, Ga. | 3/20/2009 |
| Freedom Bank of Georgia, Commerce, Ga. | 3/6/2009 |
| Security Savings Bank, Henderson, Nev. | 2/27/2009 |
| Heritage Community Bank, Glenwood, Ill. | 2/27/2009 |
| Silver Falls Bank, Silverton, Ore. | 2/20/2009 |
| Pinnacle Bank, Beaverton, Ore. | 2/13/2009 |
| Corn Belt Bank & Trust Co., Pittsfield, Ill. | 2/13/2009 |
| Riverside Bank of the Gulf Coast, Cape Coral, Fla. | 2/13/2009 |
| Sherman County Bank, Loup City, Neb. | 2/13/2009 |
| County Bank, Merced, Calif. | 2/6/2009 |
| Alliance Bank, Culver City, Calif. | 2/6/2009 |
| FirstBank Financial Services, McDonough, Ga. | 2/6/2009 |
| Ocala National Bank, Ocala, Fla. | 1/30/2009 |
| Suburban Federal Savings Bank, Crofton, Md. | 1/30/2009 |
| MagnetBank, Salt Lake City, Utah | 1/30/2009 |
| 1st Centennial Bank, Redlands, Calif. | 1/23/2009 |
| Bank of Clark County, Vancouver, Wash. | 1/16/2009 |
| National Bank of Commerce, Berkeley, Ill. | 1/16/2009 |
Conclusion
The banking industry has come a long way since the 2008 crisis. The number of bank failures has decreased significantly, and the FDIC safety net provides a level of protection for depositors. However, it’s important to remember that economic cycles are inevitable, and continued vigilance is necessary. By understanding the risks, taking precautions, and staying informed, you can help keep your money safe and navigate the financial landscape with confidence.
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