Sadly, 2010 looks to be another banner year for bank failures. During the month of January, 15 banks failed in 10 states. The FDIC, entered into loss sharing arrangements or estimates its losses to the insurance fund to be more than $4.2 billion. While the loan sharing arrangements are not direct losses these values represent the potential loss to the partners and the insurance fund.
The following is a list of failed banks for January.
| in Millions | Name of Bank | City | State |
|---|---|---|---|
| $828 | Community Bank and Trust | Cornelia | GA |
| $825 | First Regional Bank | Los Angeles | CA |
| $539 | Horizon Bank | Bellingham | WA |
| $380 | Evergreen Bank | Seattle | WA |
| $353 | Florida Community Bank | Immokalee | FL |
| $271 | Barnes Banking Company | Kaysville | UT |
| $260 | First National Bank of Georgia | Carrollton | GA |
| $255 | American Marine Bank | Bainbridge Island | WA |
| $202 | Charter Bank | Santa Fe | NM |
| $173 | Columbia River Bank | The Dalles | OR |
| $85 | Premier American Bank | Miami | FL |
| $24 | Marshall Bank, N.A. | Hallock | MN |
| $18 | Town Community Bank & Trust | Antioch | IL |
| $8 | Bank of Leeton | Leeton | MO |
| $7 | St. Stephen State Bank | St. Stephen | MN |
Source: FDIC.gov website – Accessed January 30, 2010.
