Not big enough to not fail

From the FDIC: Failed Bank List, the number of failed banks 2003-2008:

2003: 3
2004: 4
2005: 0
2006: 0
2007: 3
2008: 25

This year, through April 17th, there had also been 25 closings. Yesterday there were four more:

26. American Southern Bank, Kennesaw, Georgia

27. Michigan Heritage Bank, Farmington Hills, Michigan

28. First Bank of Beverly Hills, Calabasas, California

29. First Bank of Idaho, FSB, Ketchum, Idaho

There are 35 more Fridays in 2009. (The FDIC acts on Friday to have the weekend to get things squared away.)

One thought on “Not big enough to not fail”

  1. And those are only the ones the FDIC closed. My bank was forced by the FDIC to merge with a healthier bank. It doesn’t make your list, but it’s approximately the same thing.

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