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Bank Failure-Free Friday - Stats for 2010

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Bank Failure-Free Friday - Stats for 2010

This is one of the rare Fridays this year with no bank failures. That's surprising after last Friday when we saw 8 banks fail. The total number of bank failures for 2010 remains at 118. As a comparison, the total number of bank failures for all of 2009 was 140.

I thought it would be interesting to review the states where the most bank failures have occurred this year. I grabbed the data from the FDIC's bank failure list, and generated the table below.

This year Florida has a big lead for the most failures with 22. Last year the leader was Georgia which had a total of 25 bank failures. Georgia only has 11 so far this year. One thing that I found surprising in the table is that Arizona has only had 2 bank failures this year. Considering their real estate problems, I expected more bank failures. However, compared to California and Florida, Arizona is a much smaller state so that has to be taken into consideration.

This was also a week without any credit union liquidations. The total number of credit union liquidations for 2010 remains at 13.

There was some news today related to the health of banks. The FDIC released its July public enforcement actions. Cease and desist consent orders were issued to 30 banks.

# State Number of 2010 bank failures as of 8/27/10
1 FL 22 **********************
2 IL 15 ***************
3 GA 11 ***********
4 CA 10 **********
5 WA 8 ********
6 MN 7 *******
7 SC 4 ****
8 NV 4 ****
9 MO 4 ****
10 MI 4 ****
11 UT 3 ***
12 PR 3 ***
13 OR 3 ***
14 NY 3 ***
15 MD 3 ***
16 NM 2 **
17 AZ 2 **
18 VA 1 *
19 TX 1 *
20 OK 1 *
21 OH 1 *
22 NE 1 *
23 MS 1 *
24 MA 1 *
25 LA 1 *
26 KS 1 *
27 AL 1 *

References:



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Comments
2 Comments.
Comment #1 by bankalchemist (anonymous) posted on
bankalchemist
there was a time that banks flurshed...www.startabank.com/history/ the past can so us the future....

1
Comment #3 by Anonymous posted on
Anonymous
The FDIC is bankrupt. They can't close all the banks that need to be closed.

1