Introduction 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 0,000 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 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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