This is a list of banks in the United States affected by the 2008 financial crisis. The list includes banks (including commercial banks, investment banks, and savings and loan associations) that have: been taken over or merged with another financial institution, been declared insolvent or liquidated, or filed for bankruptcy. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012.
Banks
The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America. IndyMac Bank was also a large bank that was changed into a bridge bank by the FDIC, after its failure, until the funds can be disposed of. In addition, the investment bank Lehman Brothers filed for Chapter 11 bankruptcy protection in September 2008, citing bank debt of $613 billion and $155 billion in bond debt. The solvency of other U.S. banks was severely threatened, forcing the George W. Bush government to intervene with the $700 billion bailout plan of the Troubled Asset Relief Program.
As a result of the economic and financial crisis, over 65 U.S. banks have become insolvent and have been taken over by the FDIC since the beginning of 2008. Combined, these banks held over $55 billion in deposits, and the takeovers cost the federal government an estimated $17 billion.
A list of all banks that have failed since October 1, 2000, and either have been liquidated or are being liquidated by the FDIC is located at http://www.fdic.gov/bank/individual/failed/banklist.html.
2007 (3 total) Date Company Deposits and/or branches taken by Type of company bankrupt or closed Metropolitan Savings Bank, Pittsburgh, Pennsylvania Allegheny Valley Bank, Pittsburgh, Pennsylvania NetBank, Alpharetta, Georgia ING Direct, Wilmington, Delaware Retail and mortgage bank Miami Valley Bank, Lakeview, Ohio Citizens Banking Corp, Sandusky, Ohio
2008 (26 total) Date Company Deposits and/or branches taken by Type of company bankrupt or closed Douglass National Bank, Kansas City, Missouri Liberty Bank and Trust Company, New Orleans, Louisiana Hume Bank, Hume, Missouri Security Bank, Rich Hill, Missouri ANB Financial, Bentonville, Arkansas Pulaski Bank and Trust Company, Little Rock, Arkansas First Integrity Bank, Staples, Minnesota First International Bank and Trust, Watford City, North Dakota IndyMac Bank, Pasadena, California IndyMac Federal Bank, an 'interim' bank set up by FDIC for disposal of assets savings and loan association First National Bank of Nevada, Reno, Nevada; First Heritage Bank, Newport Beach, California Mutual of Omaha, Omaha, Nebraska First Priority Bank, Bradenton, Florida SunTrust Bank, Atlanta, Georgia The Columbian Bank and Trust Company, Topeka, Kansas Citizens Bank & Trust, Chillicothe, Missouri Integrity Bank, Alpharetta, Georgia Regions Bank, Birmingham, Alabama Silver State Bank, Henderson, Nevada Nevada State Bank, Las Vegas, Nevada AmeriBank, Northfork, West Virginia Pioneer Community Bank, Iaeger, West Virginia; The Citizen's Saving Bank, Martins Ferry, Ohio Savings and loan association Washington Mutual, Seattle, Washington JPMorgan Chase savings and loan association Main Street Bank, Northville, Michigan Monroe Bank & Trust, Monroe, Michigan Commercial bank Meridian Bank, Eldred, Illinois National Bank, Hillsboro, Illinois Commercial bank National City Corp., Cleveland, Ohio PNC Financial Services, Pittsburgh, Pennsylvania Funded by TARP funds. Alpha Bank & Trust, Alpharetta, Georgia Stearns Bank, National Association, St. Cloud, Minnesota Freedom Bank, Bradenton, Florida Fifth Third Bank, Cincinnati, Ohio Commercial bank Franklin Bank, S.S.B, Houston, Texas Prosperity Bank, El Campo, Texas Savings and loan association Security Pacific Bank, Los Angeles, California Pacific Western Bank, Los Angeles, California Commercial bank The Community Bank, Loganville, Georgia Bank of Essex, Tappahannock, Virginia Commercial bank Downey Savings and Loan, Newport Beach, California U.S. Bank, Minneapolis, Minnesota Savings and loan association PFF Bank and Trust, Pomona, California U.S. Bank, Minneapolis, Minnesota Savings and loan association First Georgia Community Bank, Jackson, Georgia United Bank, Zebulon, Georgia Commercial bank Haven Trust Bank, Duluth, Georgia BB&T Company, Winston-Salem, North Carolina Commercial bank Sanderson State Bank, Sanderson, Texas The Pecos County State Bank, Fort Stockton, Texas Commercial bank Wachovia Bank, Charlotte, North Carolina Wells Fargo Bank, San Francisco, California Commercial bank
2009 (140 total)