The 2008 financial crisis led to the failure of a large number of banks in the United States. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012. In contrast, in the five years prior to 2008, only 10 banks failed.
A bank failure is the closing of a bank by a federal or state banking regulatory agency. The FDIC is named as Receiver for a bank's assets when its capital levels are too low, or it cannot meet obligations the next day. After a bank's assets are placed into Receivership, the FDIC acts in two capacitiesâ€"first, it pays insurance to the depositors, up to the deposit insurance limit, for assets not sold to another bank. Second, as the receiver of the failed bank, it assumes the task of selling and collecting the assets of the failed bank and settling its debts, including claims for deposits in excess of the insured limit. The FDIC insures up to $250,000 per depositor, per insured bank, as a result of the Emergency Economic Stabilization Act of 2008, which raised the limit from $100,000.
The receivership of Washington Mutual Bank by federal regulators on September 26, 2008, was the largest bank failure in U.S. history. Regulators simultaneously brokered the sale of most of WaMu's assets to JPMorgan Chase, which planned to write down the value of Washington Mutual's loans at least $31 billion.
2008
The following 25 (26 including the Utah-based wholly owned subsidiary of Washington Mutual, which was covered under the same FDIC closure notice as its parent company) banks failed in 2008:
2009
The following 140 banks failed in 2009:
2010
The following 157 banks failed in 2010:
2011
The following 92 banks failed in 2011:
2012
The following 51 banks failed in 2012:
2013
The following 24 banks failed in 2013: <
2014
The following 18 banks failed in 2014:
2015
The following 8 banks failed in 2015:
2016
The following 5 banks failed in 2016:
2017
The following banks failed in 2017:
See also
- List of banks acquired or bankrupted during the Great Recession for a list of US banks and non-US banks
- List of largest U.S. bank failures (many on this list failed in 2008â€"2010)
- Too big to fail
Notes
External links
- FDIC list, failed US banks since Oct 2000
- Map of banks failed in 2008â€"2009