Risk from walking away from a mortgage

AnonymouslyIndebted · September 4, 2010

Hi everyone. I came across this article and I thought it will be good to share it here.

Read more : http://www.lasvegassun.com/news/2010/sep/0...ow-price-later/

caffeinekid · September 4, 2010

Hi everyone. I came across this article and I thought it will be good to share it here.

Read more : http://www.lasvegassun.com/news/2010/sep/0...ow-price-later/

This is the same information that has been regurgitated for the last year or two. And the response should be the same:

-Just because you can afford the home NOW doesn't mean that this will be the case next month...in 3 months or even next year. If you are far enough under water that the negative equity translates into annual salaries- WALK.

And again- the mortgage situation is just one of the symptoms. The REAL culprit is discussed here for those who care to know:

http://www.youtube.com/watch?v=7auQEXTWomA

chicagorich · September 6, 2010

Funny how financial institutions have the leeway to be about as punitive as they want to be with a homeowner who is underwater and decides to take action by walking. But if a corporation decides that being underwater is unacceptable (like commercial real estate), they can simply give the asset back to the lender and walk away pretty much scot-free.

spikedup · September 7, 2010

Funny how financial institutions have the leeway to be about as punitive as they want to be with a homeowner who is underwater and decides to take action by walking. But if a corporation decides that being underwater is unacceptable (like commercial real estate), they can simply give the asset back to the lender and walk away pretty much scot-free.

Companies get sued and go bankrupt all the time. What are you talking about scot-free?

chicagorich · September 7, 2010

Funny how financial institutions have the leeway to be about as punitive as they want to be with a homeowner who is underwater and decides to take action by walking. But if a corporation decides that being underwater is unacceptable (like commercial real estate), they can simply give the asset back to the lender and walk away pretty much scot-free.

Companies get sued and go bankrupt all the time. What are you talking about scot-free?

Try this one for starters:

Like homeowners walking away from mortgaged houses that plummeted in value, some of the largest commercial-property owners are defaulting on debts and surrendering buildings worth less than their loans.

Companies such as Macerich Co., Vornado Realty Trust and Simon Property Group Inc. have recently stopped making mortgage payments to put pressure on lenders to restructure debts. In many cases they have walked away, sending keys to properties whose values had fallen far below the mortgage amounts, a process known as "jingle mail." These companies all have piles of cash to make the payments. They are simply opting to default because they believe it makes good business sense.

Owners of commercial property have an easier time walking away than homeowners because commercial mortgages are typically nonrecourse. That means the biggest penalty for walking away is the forfeiture of assets and cash flow they may generate.

There are MANY other such articles. All you have to do is open your eyes to reality.

.

radi8 · September 7, 2010

But if a corporation decides that being underwater is unacceptable (like commercial real estate), they can simply give the asset back to the lender and walk away pretty much scot-free.

Morgan Stanley comes to mind.

chicagorich · September 7, 2010

But if a corporation decides that being underwater is unacceptable (like commercial real estate), they can simply give the asset back to the lender and walk away pretty much scot-free.

Morgan Stanley comes to mind.

Yes, that's another recent example of a corporation walking away with no down side.

cinderella · September 8, 2010

Funny how financial institutions have the leeway to be about as punitive as they want to be with a homeowner who is underwater and decides to take action by walking. But if a corporation decides that being underwater is unacceptable (like commercial real estate), they can simply give the asset back to the lender and walk away pretty much scot-free.

Companies get sued and go bankrupt all the time. What are you talking about scot-free?

No kidding.

Punitive? Geez. Talk about a one-sided story to make oneself feel better. Thousands of people have lost their jobs and companies have gone under from walking away. The decision to walk or not pay does not occur in a vacuum. There are far-reaching consequences beyond the borrower.

It's called business. You lend money and the borrower doesn't pay it back for whatever reason they are consequences. Here is a list of bank that have closed down since 2008:

Banks that have gone under since 2008: http://s.wsj.net/public/resources/document...Banks-sort.html

Bank

Year Established

Size (assets)

Size (deposits)

Branches

Regulator

Estimated Cost To FDIC Deposit Insurance Fund

Comments

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08/20/2010

Independent National Bank (Ocala, Fla.)

1988

$156,200,000

$141,900,000

4

OCC

$23,200,000

Winter Haven, Fla.-based CenterState Bank of Florida agreed to assume all the deposits and essentially all the assets ofIndependent National Bank

08/20/2010

Community National Bank at Bartow (Bartow, Fla.)

1984

$67,900,000

$63,700,000

1

OCC

$10,300,000

Winter Haven, Fla.-based CenterState Bank of Florida agreed to assume all the deposits and essentially all the assets of Community National Bank at Bartow.

08/20/2010

Imperial Savings and Loan Association (Martinsville, Va.)

1929

$9,400,000

$10,100,000

1

OTS

$3,500,000

River Community Bank of Martinsville, Va., agreed to assume all of the deposits of Imperial Savings and Loan Association

08/20/2010

ShoreBank (Chicago, Ill.)

1972

$2,160,000,000

$1,540,000,000

15

Illinois

$32,600,000

Chicago's Urban Partnership Bank assumed all of the deposits of ShoreBank.

08/20/2010

Pacific State Bank (Stockton, Calif.)

1987

$312,100,000

$278,800,000

9

California

$32,600,000

El Centro, Calif.-based Rabobank purchased assets and assumed deposits of Pacific State Bank.

08/20/2010

Butte Community Bank (Chico, Calif.)

1990

$498,800,000

$471,300,000

14

California

$17,400,000

El Centro, Calif.-based Rabobank purchased assets and assumed deposits of Butte Community Bank.

08/20/2010

Los Padres Bank (Solvang, Calif.)

1982

$870,400,000

$770,700,000

14

OTS

$17,400,000

Pacific Western Bank in San Diego took over assets and assumed deposits from the failed Los Padres Bank.

08/20/2010

Sonoma Valley Bank (Sonoma, Calif.)

1988

$337,100,000

$255,500,000

3

California

$10,100,000

San Rafael, Calif.-based Westamerica Bank purchased assets and assumed deposits from Sonoma Valley Bank.

08/13/2010

Palos Bank and Trust Company (Palos Heights, Ill.)

1977

$493,400,000

$467,800,000

5

Illinois

$343,800,000

First Midwest Bank of Itasca, Ill. assumed all of the deposits of Palos Bank and Trust Company.

08/06/2010

Ravenswood Bank (Chicago)

1934

$264,600,000

$269,500,000

2

Illinois

$68,100,000

Northbrook Bank and Trust Company of Northbrook, Ill., assumed all of the deposits of Ravenswood Bank.

07/30/2010

LibertyBank (Eugene, Ore.)

1978

$768,200,000

$718,500,000

15

Oregon

$115,300,000

All the deposits of LibertyBank were sold to Home Federal Bank of Nampa, Idaho.

07/30/2010

The Cowlitz Bank (Longview, Wash.)

1994

$529,300,000

$513,900,000

9

Washington

$68,900,000

All the deposits of The Cowlitz Bank were sold to Heritage Bank of Olympia, Wash.

07/30/2010

Bayside Savings Bank (Port Saint Joe, Fla.)

1921

$66,100,000

N/A

2

OTS

$16,200,000

Centennial Bank of Conway, Ark., bought all the deposits and essentially all the assets of Bayside Savings Bank.

07/30/2010

Coastal Community Bank (Panama City Beach, Fla.)

1906

$372,900,000

$363,200,000

11

Florida

$94,500,000

Centennial Bank of Conway, Ark., bought all the deposits and essentially all the assets of Coastal Community Bank.

07/30/2010

NorthWest Bank and Trust (Acworth, Ga.)

1941

$167,700,000

$159,400,000

2

Georgia

$39,800,000

State Bank and Trust Company of Macon, Ga., bought all the deposits of NorthWest Bank and Trust.

07/23/2010

Home Valley Bank (Cave Junction, Ore.)

1980

$251,800,000

$229,600,000

5

Oregon

$37,100,000

South Valley Bank & Trust of Klamath Falls, Ore., assumed all of the deposits of Home Valley Bank.

07/23/2010

SouthwestUSA Bank (Las Vegas, Nev.)

2001

$214,000,000

$186,700,000

1

Neveda

$74,100,000

Plaza Bank of Irvine, Calif., to assumed all of the deposits of SouthwestUSA Bank.

07/23/2010

Community Security Bank (New Prague, Minn.)

1997

$108,000,000

$99,700,000

1

Minnesota

$18,600,000

Roundbank of Waseca, Minn., assumed all of the deposits of Community Security Bank.

07/23/2010

Thunder Bank (Sylvan Grove, KS)

1903

$32,600,000

$28,500,000

2

Kansas

$4,500,000

The Bennington State Bank of Salina, KS, assumed all of the deposits of Thunder Bank.

07/23/2010

Crescent Bank and Trust Company (Jasper, Ga.)

1989

$1,010,300,000

$965,700,000

11

Georgia

$242,400,000

Renasant Bank based in Tupelo, Miss., assumed all of the deposits of Crescent Bank and Trust Company.

07/23/2010

Sterling Bank (Lantana, Fla.)

1987

$407,900,000

$372,400,000

6

Florida

$45,500,000

IBERIABANK of Lafayette, La., assumed all of the deposits of Sterling Bank.

07/16/2010

Mainstreet Savings Bank, FSB (Hastings, Mich.)

1924

$97,400,000

$63,700,000

2

OTS

$11,400,000

Commercial Bank of Alma, Mich., assumed all of the deposits of Mainstreet Savings Bank, FSB.

07/16/2010

Olde Cypress Community Bank (Clewiston, Fla.)

1927

$168,700,000

$162,400,000

6

OTS

$31,500,000

CenterState Bank of Florida, National Association, Winter Haven, Fla., assumed all of the deposits of Olde Cypress Community Bank.

07/16/2010

Metro Bank of Dade County (Miami, Fla.)

1984

$442,300,000

$391,300,000

6

Florida

$67,600,000

NAFH National Bank, Miami, Fla., a newly-chartered bank subsidiary of North American Financial Holdings, Charlotte, N.C., assumed all the deposits and essentially all the assets of Metro Bank of Dade County.

07/16/2010

Turnberry Bank (Aventura, Fla.)

1985

$263,900,000

$196,900,000

4

OTS

$34,400,000

NAFH National Bank, Miami, Fla., a newly-chartered bank subsidiary of North American Financial Holdings, Charlotte, N.C., assumed all the deposits and essentially all the assets of Turnberry Bank.

07/16/2010

First National Bank of the South (Spartanburg, S.C.)

1952

$682,000,000

$610,100,000

13

OCC

$67,600,000

NAFH National Bank, Miami, Fla., a newly-chartered bank subsidiary of North American Financial Holdings, Charlotte, N.C., assumed all the deposits and essentially all the assets of First National Bank of the South.

07/16/2010

Woodlands Bank (Bluffton, S.C.)

1990

$376,200,000

$355,300,000

8

OTS

$115,000,000

NAFH National Bank, Miami, Fla., a newly-chartered bank subsidiary of North American Financial Holdings, Charlotte, N.C., assumed all the deposits and essentially all the assets of First National Bank of the South.

07/09/2010

Home National Bank (Blackwell, Okla.)

1934

$644,500,000

$560,700,000

15

OCC

$78,700,000

RCB Bank of Claremore, Okla., assumed all of the deposits of Home National Bank.

07/09/2010

USA Bank (Port Chester, N.Y.)

2005

$193,300,000

$189,900,000

1

New York

$61,700,000

New Century Bank, which does business as Customer's 1st Bank, in Phoenixville, Pa., assumed USA's $189.9 million in deposits.

07/09/2010

Ideal Federal Savings Bank (Baltimore, Md.)

1986

$6,300,000

$5,800,000

1

OTS

$2,100,000

The FDIC couldn't find a buyer for Ideal Federal Savings Bank.

07/09/2010

Bay National Bank (Baltimore, Md.)

2000

$282,200,000

$276,100,000

2

OTS

$17,400,000

Bay Bank of FSB, Lutherville, Md., to assume all of the deposits of Bay National Bank.

06/25/2010

Peninsula Bank (Englewood, Fla.)

1986

$644,300,000

$580,100,000

13

Florida

$194,800,000

The Savannah Bank, National Association assumed all of the deposits of First National Bank.

06/25/2010

First National Bank (Savannah, Ga.)

1996

$252,500,000

$231,900,000

4

OCC

$68,900,000

The Savannah Bank, National Association assumed all of the deposits of First National Bank.

06/25/2010

High Desert State Bank (Albuquerque, N.M.)

1999

$80,300,000

$81,000,000

2

New Mexico

$20,900,000

First American Bank in Artesia, N.M. assumed all of the deposits of High Desert State Bank.

06/18/2010

Nevada Security Bank (Reno, Nev.)

2001

$480,300,000

$479,800,000

5

Nevada

$80,900,000

Umpqua Bank of Roseburg, Ore., assumed all the deposits and essentially all of the assets.

06/11/2010

Washington First International Bank (Seattle, Wash.)

1990

$520,900,000

$441,400,000

4

Washington

$158,400,000

East West Bancorp agreed to assume all of Washington First International Bank's $441.4 million in deposits and most of its $520.9 million in assets.

06/04/2010

TierOne Bank (Lincoln, Neb.)

1907

$2,800,000,000

$2,200,000,000

69

OTS

$297,800,000

The FDIC took over as receiver for TierOne, whose deposits will be assumed by Great Western Bank, in Sioux Falls, S.D.

06/04/2010

First National Bank (Rosedale, Miss.)

1976

$60,400,000

$63,500,000

1

OCC

$12,600,000

Jefferson Bank assumed all deposits and essentially all assets of First National.

06/04/2010

Arcola Homestead Savings Bank (Arcola, Ill.)

1883

$17,000,000

$18,100,000

1

Illinois

$3,200,000

llinois regulators closed Arcola and appointed the FDIC as receiver. The FDIC was unable to find a buyer for Arcola's banking operations.

05/28/2010

Bank of Florida â€“ Tampa Bay (Tampa, Fla.)

2004

$245,200,000

N/A

2

Florida

$40,300,000

EverBank of Jacksonville, Fla., acquired its banking operations, including all its deposits.

05/28/2010

Bank of Florida â€“ Southwest (Naples, Fla.)

1999

$640,900,000

N/A

5

Florida

$91,300,000

EverBank of Jacksonville, Fla., acquired its banking operations, including all its deposits.

05/28/2010

Bank of Florida â€“ Southeast (Fort Lauderdale, Fla.)

2002

$595,300,000

$531,700,000

6

Florida

$71,400,000

EverBank of Jacksonville, Fla., acquired its banking operations, including all its deposits.

05/28/2010

Granite Community Bank (Granite Bay, Calif.)

2002

$102,900,000

$94,200,000

3

OCC

$17,300,000

Tri Counties Bank in Chico, Calif., assumed its $94.2 million in deposits.

05/28/2010

Sun West Bank (Las Vegas, Nev.)

1998

$360,700,000

$353,900,000

7

Nevada

$96,700,000

City National Bank in Los Angeles assumed all its deposits.

05/21/2010

Pinehurst Bank (St. Paul, Minn.)

2004

N/A

$58,300,000

1

Minnesota

$6,000,000

All the assets and deposits acquired by Coulee Bank in Wisconsin.

05/14/2010

Midwest Bank and Trust Company (Elmwood Park, Ill.)

1959

$3,170,000,000

$2,120,000,000

23

Illinois

$216,400,000

The FDIC sold the assets and the deposits to Firstmerit Bank in Ohio. The FDIC and Firstmerit agreed to share future losses on most assets.

05/14/2010

Southwest Community Bank (Springfield, Mo.)

1996

$96,600,000

$102,500,000

1

Missouri

$29,000,000

The FDIC sold the assets and deposits to Simmons First National Bank in Arkansas. The FDIC and Simmons First agreed to share future losses on most assets.

05/14/2010

New Liberty Bank (Plymouth, Mich.)

2001

$109,100,000

$101,800,000

1

Michigan

$25,000,000

The FDIC sold the assets and deposits to Bank of Ann Arbor in Michigan. The FDIC and Bank of Ann Arbor agreed to share future losses on most assets.

05/14/2010

Satilla Community Bank (Saint Marys, Ga.)

2001

$135,700,000

$134,000,000

1

Georgia

$31,300,000

The FDIC sold the assets and deposits to Ameris Bank in Georgia. The FDIC and Ameris Bank agreed to share future losses on most assets.

05/07/2010

The Bank of Bonifay (Bonifay, Fla.)

1906

$242,900,000

$230,200,000

5

Floridaa

N/A

The FDIC sold the deposits and some assets to First Federal Bank of Florida. The FDIC will retain remaining assets.

05/07/2010

Access Bank (Champin, Minn.)

1946

$320,000,000

$32,000,000

2

Minnesota

N/A

The FDIC sold the assets to Prinsbank in Minnesota.

05/07/2010

Towne Bank of Arizona (Mesa, Ariz.)

2004

$120,200,000

$113,200,000

1

Arizona

$41,800,000

The FDIC sold the assets and the deposits to Commerce Bank of Arizona. The FDIC and Commerce agreed to share future losses on certain assets.

05/07/2010

1st Pacific Bank of California (San Diego, Calif.)

2000

$335,800,000

$291,200,000

6

California

$87,700,000

The FDIC sold the assets and deposits to City National Bank in California. The FDIC and City National Bank agreed to share future losses on certain assets.

04/30/2010

R-G Premier Bank of Puerto Rico (Hato Rey, Puerto Rico)

1966

$5,920,000,000

$4,250,000,000

29

Puerto Rico

$1,230,000,000

Scotiabank de Puerto Rico bought all of the deposits of R-G Premier Bank.

04/30/2010

Eurobank (San Juan, Puerto Rico)

2003

$2,560,000,000

$1,970,000,000

22

Puerto Rico

$743,900,000

Oriental Bank and Trust bought all of the deposits of Eurobank.

04/30/2010

Frontier Bank (Everett, Wash.)

1978

$3,500,000,000

$3,130,000,000

51

Washington

$1,370,000,000

Union Bank, National Association of San Francisco acquired all of Frontier's deposits and essentially all of the failed bank's assets.

04/30/2010

BC National Banks (Butler, Mo.)

1902

$67,200,000

$54,900,000

4

OCC

$11,400,000

Community First Bank of Butler acquired all of BC National's deposits and essentially all of the failed bank's assets.

04/30/2010

Champion Bank (Creve Coeur, Mo.)

2006

$187,300,000

$153,800,000

1

Missouri

$52,700,000

BankLiberty of Liberty, Mo., acquired all of Champion Bank's deposits and approximately $152.6 million of the failed bank's assets.

04/30/2010

CF Bancorp (Port Huron, Mich.)

1937

$1,650,000,000

$1,430,000,000

22

Michigan

$615,300,000

First Michigan Bank of Troy, Mich. acquired all of CF Bancorp's deposits and approximately $870 million of the failed bank's assets.

04/23/2010

Amcore Bank, National Association (Rockford, Ill.)

1931

$3,800,000,000

$3,400,000,000

58

Illinois

$220,300,000

The FDIC said Harris National Association will purchase all of Amcore Bank's deposits as well as most of its assets.

04/23/2010

Broadway Bank (Chicago, Ill.)

1978

$1,200,000,000

$1,100,000,000

4

Illinois

$394,300,000

MB Financial Bank of Chicago purchased Broadway Bank's deposits and essentially all of its assets.

04/23/2010

Citizens Bank & Trust Company of Chicago (Chicago, Ill.)

2000

$485,600,000

$492,000,000

3

Illinois

$125,300,000

MB Financial bought the $$492 million of total assets from New Century Bank.

04/23/2010

New Century Bank (Chicago, Ill.)

1997

$77,300,000

$74,500,000

1

Illinois

$20,900,000

The FDIC sold Citizens Bank & Trust's $74.5 million of deposits to Republic Bank of Oak Brook, Ill.

04/23/2010

Lincoln Park Savings Bank (Chicago, Ill)

1946

$199,900,000

$171,500,000

4

Illinois

$48,400,000

Northbrook Bank and Trust Co. of Northbrook, Ill., plans to purchase Lincoln Park Savings Bank's of $171.5 million total deposits.

04/23/2010

Peotone Bank and Trust Company (Peotone, Ill.)

1916

$130,200,000

$127,000,000

2

Illinois

$31,700,000

The FDIC sold Peotone Bank and Trust's $127 million in deposits to First Midwest Bank of Itasca, Ill.

04/23/2010

Wheatland Bank (Naperville, Ill.)

2007

N/A

$438,500,000

1

Illinois

$133,000,000

All of Wheatland Bank's deposits and assets were sold to Wheaton Bank & Trust.

04/16/2010

City Bank (Lynnwood, Wash.)

1973

$1,130,000,000

$1,020,000,000

8

Washington

$323,400,000

Whidbey Island Bank, based in Coupeville, Wash., assumed the deposits of City Bank and approximately $704.1 million of the failed bank's assets.

04/16/2010

Tamalpais Bank (San Rafael, Calif.)

1991

$628,900,000

$487,600,000

7

California

$81,100,000

Union Bank assumed the deposits of Tamalpais Bank in San Rafael, which had seven branches and $628.9 million in assets.

04/16/2010

Innovative Bank (Oakland, Calif.)

1982

$268,900,000

$225,200,000

4

California

$37,800,000

Center Bank of Los Angeles assumed the deposits of Innovative Bank.

04/16/2010

Butler Bank (Lowell, Mass.)

1901

$268,000,000

$233,200,000

4

Massachusetts

$22,900,000

People's United Bank of Bridgeport, Conn. agreed to assume Butler's $233.2 million of deposits and essentially all of its $268 million in assets.

04/16/2010

AmericanFirst Bank (Clermont, Fla.)

2004

$90,500,000

$81,900,000

3

Florida

$10,500,000

TD Bank Financial acquired the banking operations of AmericanFirst Bank, First Federal Bank of North Florida and Riverside National Bank of Florida.

04/16/2010

First Federal Bank of North Florida (Palatka, Fla.)

1934

$393,300,000

$324,200,000

8

OTS

$6,000,000

TD Bank Financial acquired the banking operations and all the deposits of AmericanFirst Bank, First Federal Bank of North Florida and Riverside National Bank of Florida.

04/16/2010

Riverside National Bank of Florida (Fort Pierce, Fla.)

1982

$3,420,000,000

$2,760,000,000

58

OCC

$491,800,000

TD Bank Financial acquired the banking operations and all the deposits of AmericanFirst Bank, First Federal Bank of North Florida and Riverside National Bank of Florida.

04/16/2010

Lakeside Community Bank (Sterling Heights, Mich.)

1999

$53,000,000

$52,300,000

1

Michigan

$11,200,000

The FDIC was unable to find another financial institution to take over Lakeside's banking operations and entered into an agreement with First Michigan Bank to accept Lakeside's direct deposits from the federal government.

04/09/2010

Beach First National Bank (Myrtle Beach, S.C.)

1996

$585,100,000

$516,000,000

7

OCC

$130,300,000

Beach First's branches will be acquired by Bank of North Carolina, and its depositors will automatically become depositors of Bank of North Carolina.

03/26/2010

McIntosh Commercial Bank (Carrollton, Ga.)

2002

N/A

$343,300,000

4

Georgia

$123,300,000

The FDIC sold the assets and deposits to CharterBank in Georgia, and the FDIC and CharterBank agreed to share future losses on certain assets.

03/26/2010

Key West Bank (Key West, Fla.)

1999

$88,000,000

$67,700,000

1

OTS

$23,100,000

The FDIC sold the assets and deposits to Centennial Bank in Arkansas, and Centennial and the FDIC agreed to share future losses on certain assets.

03/26/2010

Unity National Bank (Cartersville, Ga.)

1998

$292,200,000

$264,300,000

5

OCC

$67,200,000

The FDIC sold the assets and deposits to Bank of the Ozarks in Arkansas, and the FDIC and Bank of the Ozarks agreed to share future losses on certain assets.

03/26/2010

Desert Hills Bank (Phoenix, Ariz.)

2000

$496,600,000

$426,500,000

6

Arizona

$106,700,000

The FDIC sold the assets and deposits to New York Community Bank, and the FDIC and New York Community Bank agreed to share future losses on certain assets.

03/19/2010

American National Bank (Parma, Ohio)

1963

N/A

$66,800,000

1

OCC

$17,100,000

The assets and deposits were acquired by the National Bank and Trust Company in Ohio. The FDIC and National Bank and Trust agreed to share future losses on certain assets.

03/19/2010

Century Security Bank (Duluth, Ga.)

2006

$96,500,000

$94,000,000

2

Georgia

$29,900,000

The assets and deposits were acquired by Bank of Upson in Georgia. The FDIC and Bank of Upson agreed to share future losses on certain assets.

03/19/2010

Advanta Bank Corp. (Draper, Utah)

1991

$1,600,000,000

$1,500,000,000

1

Utah

$635,600,000

The FDIC couldnâ€™t find a buyer for the failed bank, so they had to pay out all depositors.

03/19/2010

Appalachian Community Bank (Ellijay, Ga.)

1995

$1,010,000,000

$917,600,000

10

Georgia

$419,300,000

Community & Southern Bank in Georgia acquired the assets and deposits of the failed bank. The FDIC and Community & Southern agreed to share future losses on certain assets.

03/19/2010

Bank of Hiawassee (Hiawassee, Ga.)

1909

$377,800,000

$339,600,000

5

Georgia

$137,700,000

Citizens South Bank in North Carolina acquired the assets and deposits of the failed bank, and the FDIC and Citizens South agreed to share future losses on most assets.

03/19/2010

First Lowndes Bank (Fort Deposit, Ala.)

1984

$137,200,000

$131,100,000

4

Alabama

$38,300,000

First Citizens Bank in Alabama acquired the assets and deposits of the failed bank and agreed to share future losses with the FDIC on certain assets.

03/19/2010

State Bank of Aurora (Aurora, Minn.)

1906

$28,200,000

$27,800,000

1

Minnesota

$4,200,000

Northern State Bank in Wisconsin acquired the assets and deposits of the failed bank and agreed to share future losses on certain assets with the FDIC.

03/12/2010

Statewide Bank (Covington, La.)

1926

$243,200,000

$208,000,000

6

Louisiana

$38,100,000

The bankâ€™s assets and deposits were acquired by Home Bank in Louisiana. The FDIC and Home Bank agreed to share future losses on certain assets.

03/12/2010

Old Southern Bank (Orlando, Fla.)

2006

$315,600,000

$319,700,000

7

Florida

$94,600,000

The bankâ€™s assets and deposits were acquired by Centennial Bank in Arkansas. The FDIC and Centennial agreed to share future losses on certain assets.

03/12/2010

Park Avenue Bank (New York, NY)

1987

$520,100,000

$494,500,000

4

New York

$50,700,000

The bankâ€™s assets and deposits were acquired by Valley National Bank in New Jersey. The FDIC and Valley National agreed to share future losses on certain assets.

03/11/2010

LibertyPointe Bank (New York, NY)

2005

$209,700,000

$205,000,000

3

New York

$24,800,000

The FDIC sold the failed banks deposits and assets to Valley National Bank in New Jersey. The FDIC and Valley National agreed to share future losses on most assets.

03/05/2010

Centennial Bank (Ogden, Utah)

1997

$215,200,000

$205,100,000

5

Utah

$96,300,000

The FDIC couldnâ€™t find a buyer so it had to pay depositors directly from the FDIC fund.

03/05/2010

Waterfield Bank (Germantown, Md.)

2000

$155,600,000

$156,400,000

1

OTS

$51,000,000

The FDIC couldnâ€™t find a buyer so it created a new institution to wind down the company.

03/05/2010

Bank of Illinois (Normal, Ill.)

1914

$211,700,000

$198,500,000

2

Illinois

$53,700,000

The FDIC sold the assets and deposits to Heartland Bank and Trust of Illinois. The FDIC and Heartland agreed to share future losses on most assets.

03/05/2010

Sun American Bank (Boca Raton, Fla.)

1987

$535,700,000

$443,500,000

12

Florida

$103,800,000

The FDIC sold the assets and deposits to First-Citizens Bank and Trust in North Carolina. The FDIC and First-Citizens agreed to share future losses on most assets..

02/26/2010

Rainier Pacific Bank (Tacoma, Wash.)

1933

$717,800,000

$446,200,000

14

Washington

$95,200,000

The FDIC sold all deposits and most assets to Umpqua Bank in Oregon. The FDIC and Umpqua Bank will share future losses on certain assets.

02/26/2010

Carson River Community Bank (Carson City, Nev.)

2006

$51,100,000

$50,000,000

1

Nevada

$7,900,000

The FDIC sold all deposits and most assets to Heritage Bank of Nevada in Nevada. The FDIC and Heritage Bank agreed to share future losses on certain assets.

02/19/2010

Marco Community Bank (Marco Island, Fla.)

2003

$119,600,000

$117,100,000

1

Florida

$38,100,000

The FDIC sold the failed bank's $117.1 million of deposits to Mutual of Omaha Bank in Nebraska.

02/19/2010

The La Coste National Bank (La Coste, Texas)

1912

$53,900,000

$49,300,000

1

OCC

$3,700,000

The FDIC sold the failed bank's $49.3 million in deposits to Community National Bank in Hondo, Texas.

02/19/2010

George Washington Savings Bank (Orland Park, Ill.)

1890

$412,800,000

$385,300,000

4

Illinois

$141,400,000

The FDIC sold all of the failed bank's $397 million in deposits and virtually all of its $412.8 million in assets to FirstMerit Bank in Ohio.

02/19/2010

La Jolla Bank (La Jolla, Calif.)

1985

$3,600,000,000

$2,800,000,000

10

OTS

$882,300,000

All of La Jolla Bank's deposits and virtually all of its assets were sold to OneWest FSB, a thrift created last year after investors bought up pieces of the failed IndyMac Bank. The FDIC and OneWest agreed to share future losses on $3.3 billion of the La Jolla Bank's deposits.

02/05/2010

1st American State Bank of Minnesota (Hancock, Minn.)

1936

$18,200,000

$16,300,000

2

Minnesota

$3,100,000

The FDIC sold all of the bankâ€™s deposits and most of its assets to Community Development Bank in Ogema, Minn.

01/29/2010

American Marine Bank (Bainbridge Island, Wash.)

1948

$373,200,000

$308,500,000

11

Washington

$58,900,000

All deposits and essentially all assets acquired by Columbia State Bank in Washington. The FDIC and Columbia State Bank agreed to share future losses.

01/29/2010

First Regional Bank (Los Angeles, Calif.)

1979

$2,180,000,000

$1,870,000,000

8

California

$825,500,000

All deposits and virtually all assets acquired by First-Citizens Bank and Trust in North Carolina. The FDIC and First-Citizens agreed to share future losses.

01/29/2010

Community Bank & Trust (Cornelia, Ga.)

1900

$1,210,000,000

$1,110,000,000

36

Georgia

$354,500,000

All deposits and virtually all assets acquired by SCBT of South Carolina. The FDIC and SCBT agreed to share future losses.

01/29/2010

Marshall Bank N.A. (Hallock, Minn.)

1943

$59,900,000

$54,700,000

3

OCC

$4,100,000

All deposits and virtually all assets acquired by United Valley Bank in North Dakota. The FDIC and United Valley Bank agreed to share future losses.

01/29/2010

Florida Community Bank (Immokalee, Fla.)

1923

$875,500,000

$795,500,000

11

Florida

$352,600,000

All deposits and most assets acquired by Premier American Bank in Miami. The FDIC and Premier American agreed to share future losses.

01/29/2010

First National Bank of Georgia (Carrollton, Ga.)

1946

$832,600,000

$757,900,000

11

OCC

$260,400,000

All deposits and virtually all assets acquired by Community & Southern Bank in Georgia. The FDIC and Community & Southern agreed to share future losses.

01/22/2010

Columbia River Bank (The Dalles, Ore.)

1977

N/A

$1,000,000,000

21

Oregon

$172,500,000

All deposits and virtually all assets acquired by Columbia State Bank in Washington. The FDIC and Columbia State Bank agreed to share future losses.

01/22/2010

Evergreen Bank (Seattle, Wash.)

1971

$488,500,000

$439,400,000

7

Washington

$64,200,000

All deposits and virtually all assets acquired by Umpqua Bank in Oregon. The FDIC and Umpqua Bank agreed to share future losses.

01/22/2010

Charter Bank (Santa Fe, N.M.)

1986

$1,200,000,000

$851,500,000

8

OTS

$201,900,000

A newly chartered bank, Charter Bank in Albuquerque, acquired all deposits and virtually all assets. The FDIC and Charter Bank agreed to share future losses. This was the first New Mexico bank to fail since 1999.

01/22/2010

Bank of Leeton (Leeton, Mo.)

1896

$20,100,000

$20,400,000

1

Missouri

$8,100,000

Sunflower Bank in Kansas assumed all of the failed bankâ€™s deposits.

01/22/2010

Premier American Bank (Miami, Fla.)

2001

$350,900,000

$326,300,000

4

Florida

$85,000,000

A newly chartered bank, Premier American Bank, assumed all deposits and most assets. The FDIC and Premier American agreed to share future losses.

01/15/2010

Barnes Banking Co. (Kaysville, Utah)

1891

N/A

$786,500,000

10

Utah

$271,300,000

The FDIC couldnâ€™t find a buyer for the bank so it agreed to pay out depositors.

01/15/2010

St. Stephen State Bank (St. Stephen, Minn.)

1920

N/A

$23,400,000

2

Minnesota

$7,200,000

The FDIC sold all deposits and almost all assets to First State Bank of St. Joseph, in Minnesota. The FDIC and First State Bank agreed to share future losses on those assets.

01/15/2010

Town Community Bank and Trust (Antioch, Ill.)

2000

$69,600,000

$67,400,000

1

Illinois

$17,800,000

First American Bank in Illinois agreed to buy all deposits and most assets. The FDIC and First American agreed to share future losses on those assets.

01/08/2010

Horizon Bank (Bellingham, Wash.)

1922

N/A

$1,100,000,000

18

Washington

$539,100,000

The FDIC entered into a purchase and assumption agreement with Washington Federal Savings and Loan Association to assume all of the deposits of Horizon Bank.

12/18/2009

RockBridge Commercial Bank (Atlanta, Ga.)

2006

N/A

$291,700,000

1

Georgia

$124,200,000

The FDIC couldnâ€™t find a buyer for the bank, so it had to pay out all depositors.

12/18/2009

Peoples First Community Bank (Panama City, Fla.)

1983

N/A

$1,700,000,000

29

OTS

$556,700,000

All deposits and most assets acquired by Hancock Bank in Mississippi. The FDIC and Hancock Bank agreed to share future losses.

12/18/2009

Citizens State Bank (New Baltimore, Mich.)

1922

N/A

$157,100,000

7

Michigan

$76,600,000

The FDIC couldnâ€™t find a buyer for the bank, set it set up a temporary bank to allow customers 45 days to close accounts.

12/18/2009

New South Federal Savings Bank (Irondale, Ala.)

1985

N/A

$1,200,000,000

1

OTS

$212,300,000

All of the deposits and most assets were acquired by Beal Bank of Texas. The FDIC and Beal Bank agreed to share future losses on most assets.

12/18/2009

Independent Bankersâ€™ Bank (Springfield, Ill.)

1986

N/A

$511,500,000

1

Illinois

$68,400,000

The FDIC set up a bridge bank to run Independent Bankers Bank, because of the destabilizing impact a collapse of the bank could have on its 450 client banks.

12/18/2009

Imperial Capital Bank (La Jolla, Calif.)

1973

N/A

$2,800,000,000

9

California

$619,200,000

The FDIC sold all deposits and most assets to City National Bank in California. The FDIC and City National agreed to share future losses on most assets.

12/18/2009

First Federal Bank of California (Santa Monica, Calif.)

1929

$6,100,000,000

$4,500,000,000

39

OTS

$146,300,000

The FDIC sold all deposits and most assets were purchased by OneWest Bank in California. The FDIC and OneWest agreed to share future losses on most assets.

12/11/2009

SolutionsBank (Overland Park, Kan.)

1881

$511,100,000

N/A

6

Kansas

$122,100,000

All deposits and most assets acquired by Arvest Bank in Arkansas. The FDIC and Arvest agreed to share future losses on those assets.

12/11/2009

Valley Capital Bank (Mesa, Ariz.)

2006

$40,300,000

N/A

1

OCC

$7,400,000

All deposits and almost all assets acquired by Enterprise Bank & Trust in Missouri. The FDIC and Enterprise agreed to share future losses on the assets.

12/11/2009

Republic Federal Bank (Miami, Fla.)

1979

$433,000,000

N/A

4

OCC

$122,600,000

All deposits and most assets acquired by 1st United Bank in Florida. The FDIC and 1st United agreed to share future losses on the assets.

12/04/2009

Greater Atlantic Bank (Reston, Va.)

1989

$203,000,000

$179,000,000

5

OTS

$35,000,000

NSonabank in McLean, Va., has agreed to assume all of the failed bank's deposits through a deal with the FDIC. Under the deal, the FDIC and Sonabank will share in losses on about $145 million of Greater Atlantic Bank's assets.

12/04/2009

AmTrust Bank (Cleveland, Ohio )

1889

$12,000,000,000

$8,000,000,000

66

OTS

$2,000,000,000

New York Community Bank agreed to purchase approximately $9.0 billion in assets of AmTrust Bank. The FDIC will retain the remaining assets for later disposition. The FDIC and New York Community Bank entered into a loss-share transaction on approximately $6.0 billion of AmTrust Bank's assets.

12/04/2009

Benchmark Bank, (Aurora, Ill .)

1898

$170,000,000

$181,000,000

5

Illinois

$64,000,000

MB Financial Bank, N.A. did not pay the FDIC a premium for the deposits of Benchmark Bank. In addition to assuming all of the deposits of the failed bank, MB Financial Bank, N.A. agreed to purchase essentially all of the assets. The FDIC and MB Financial Bank, N.A. entered into a loss-share transaction on approximately $139.0 million of Benchmark Bank's assets.

12/04/2009

The Tattnall Bank (Reidsville, Ga.)

1900

$49,600,000

$47,300,000

2

Georgia

$13,900,000

HeritageBank of the South, (Albany, Ga.), will assume all of the deposits of The Tattnall Bank.

12/04/2009

First Security National Bank, (Norcross, Ga.)

1985

$128,000,000

$123,000,000

4

OCC

$30,100,000

State Bank and Trust Company, (Macon, Ga.) will assume all of the deposits of First Security National Bank. The FDIC and State Bank and Trust Company entered into a loss-share transaction on approximately $82.4 million of First Security National Bank's assets.

12/04/2009

Buckhead Community Bank (Atlanta)

1998

$874,000,000

$838,000,000

6

Georgia

$241,400,000

State Bank and Trust Company, (Macon, Ga.) will assume all of the deposits of The Buckhead Community Bank. The FDIC and State Bank and Trust Company entered into a loss-share transaction on approximately $692 million of The Buckhead Community Bank's assets.

11/20/2009

Commerce Bank of Southwest Florida (Fort Myers, Fla.)

2005

$79,700,000

$76,700,000

1

Florida

$23,600,000

All deposits and most assets acquired by Central Bank of Minnesota. The FDIC and Central Bank agreed to share future losses on assets.

11/13/2009

Pacific Coast National Bank (San Clemente, Calif.)

2005

N/A

$130,900,000

2

OCC

$27,400,000

All deposits and virtually all assets acquired by Sunwest Bank in California.

11/13/2009

Orion Bank (Naples, Fla.)

1977

N/A

$2,100,000,000

23

Florida

$615,000,000

All deposits and most assets acquired by Iberiabank. The FDIC and Iberiabank agreed to share future losses on assets.

11/13/2009

Century Bank FSB (Sarasota, Fla.)

1985

N/A

$631,000,000

11

OTS

$344,000,000

All deposits and most assets acquired by IBERIABANK. The FDIC and IBERIABANK agreed to share future losses on assets.

11/06/2009

United Commercial Bank (San Francisco, Calif.)

1986

N/A

$7,500,000,000

63

California

$1,400,000,000

All deposits and most assets acquired by East West Bank of California. The FDIC and East West Bank agreed to share future losses on assets.

11/06/2009

Gateway Bank of St. Louis (St. Louis, Mo.)

1965

N/A

$27,900,000

1

Missouri

$9,200,000

All deposits and virtually all assets acquired by Central Bank of Missouri.

11/06/2009

Prosperan Bank (Oakdale, Minn.)

1999

N/A

$175,600,000

3

Minnesota

$60,100,000

All deposits and virtually all assets acquired by Alerus Financial of North Dakota. The FDIC and Alerus agreed to share future losses on the assets.

11/06/2009

United Security Bank (Sparta, Ga.)

1932

N/A

$150,000,000

2

Georgia

$58,000,000

All deposits and virtually all assets acquired by Ameris Bank of Georgia. The FDIC and Ameris agreed to share future losses on assets.

11/06/2009

Home Federal Savings Bank (Detroit, Mich.)

1947

N/A

$12,800,000

2

OTS

$5,400,000

All deposits and virtually all assets acquired by Liberty Bank and Trust of New Orleans.

10/30/2009

North Houston Bank (Houston, Texas)

1963

N/A

$308,000,000

2

Texas

$277,777,778

Bank was one of nine owned by FBOP parent company. US Bank acquired almost all deposits and assets.

10/30/2009

Madisonville State Bank (Madisonville, Texas)

1993

N/A

$225,200,000

1

Texas

$277,777,778

Bank was one of nine owned by FBOP parent company. US Bank acquired almost all deposits and assets.

10/30/2009

Citizens National Bank (Teague, Texas)

1984

N/A

$97,700,000

2

OCC

$277,777,778

Bank was one of nine owned by FBOP parent company. US Bank acquired almost all deposits and assets.

10/30/2009

Park National Bank (Chicago, Ill.)

1883

N/A

$3,700,000,000

32

OCC

$277,777,778

Bank was one of nine owned by FBOP parent company. US Bank acquired almost all deposits and assets.

10/30/2009

Pacific National Bank (San Francisco, Calif.)

1887

N/A

$1,800,000,000

17

OCC

$277,777,778

Bank was one of nine owned by FBOP parent company. US Bank acquired almost all deposits and assets.

10/30/2009

California National Bank (Los Angeles, Calif.)

1998

N/A

$6,200,000,000

68

OCC

$277,777,778

Bank was one of nine owned by FBOP parent company. US Bank acquired almost all deposits and assets.

10/30/2009

San Diego National Bank (San Diego, Calif.)

1981

N/A

$2,900,000,000

29

OCC

$277,777,778

Bank was one of nine owned by FBOP parent company. US Bank acquired almost all deposits and assets.

10/30/2009

Community Bank of Lemont (Lemont, Ill.)

2001

N/A

$81,200,000

1

Illinois

$277,777,778

Bank was one of nine owned by FBOP parent company. US Bank acquired almost all deposits and assets.

10/30/2009

Bank USA (Phoenix, Ariz.)

1984

N/A

$117,100,000

2

Arizona

$277,777,778

Bank was one of nine owned by FBOP parent company. US Bank acquired almost all deposits and assets.

10/23/2009

First DuPage Bank (Westmont, Ill.)

1999

N/A

$254,000,000

1

Illinois

$59,000,000

All deposits and most assets acquired by First Midwest Bank in Illinois. The FDIC and First Midwest agreed to share future losses on most assets.

10/23/2009

Riverview Community Bank (Otsego, Minn.)

2003

$108,000,000

$80,000,000

2

Minnesota

$20,000,000

All deposits and almost all assets acquired by Central Bank in Minnesota. The FDIC and Central bank agreed to share most losses on those assets.

10/23/2009

Bank of Elmwood (Racine, Wisc.)

1960

$327,400,000

$273,200,000

5

Wisconsin

$101,100,000

All deposits and almost all assets acquired by Tri City National Bank in Wisconsin.

10/23/2009

Flagship National Bank (Bradenton, Fla.)

1999

$190,000,000

$175,000,000

4

OCC

$59,000,000

All deposits and almost all assets acquired by First Federal Bank of Florida. The FDIC and First Federal agreed to share future losses on most assets.

10/23/2009

Hillcrest Bank Florida (Naples, Fla.)

2006

$83,000,000

$84,000,000

6

Florida

$45,000,000

All deposits and some assets acquired by Stonegate Bank of Florida.

10/23/2009

American United Bank (Lawrenceville, Ga.)

2004

$111,000,000

$101,000,000

1

Georgia

$44,000,000

All deposits and most assets acquired by Ameris Bank in Georgia. The FDIC and Ameris agreed to share future losses on most assets.

10/23/2009

Partners Bank (Naples, Fla.)

2005

N/A

$64,900,000

2

OTS

$28,600,000

All deposits and almost all assets acquired by Stonegate Bank of Florida.

10/16/2009

San Joaquin Bank (Bakersfield, Calif.)

1980

$775,000,000

$631,000,000

5

California

$103,000,000

All deposits and virtually all assets acquired by Citizens Business Bank of California. The FDIC and Citizens agreed to share future losses on most assets.

10/02/2009

Warren Bank (Warren, Mich.)

1998

$538,000,000

$501,000,000

6

Michigan

$275,000,000

All deposits and $83 million in assets acquired by Huntington National Bank in Ohio.

10/02/2009

Jennings State Bank (Spring Grove, Minn.)

1890

$56,300,000

$52,400,000

2

Minnesota

$11,700,000

All deposits and almost all assets acquired by Central Bank in Minnesota. The FDIC and Central Bank agreed to share future losses on most assets.

10/02/2009

Southern Colorado National Bank (Pueblo, Colo.)

2002

$39,500,000

$31,900,000

2

OCC

$6,600,000

All deposits and almost all assets acquired by Legacy Bank of Colorado. Legacy and the FDIC agreed to share future losses on most assets.

09/25/2009

Georgian Bank (Atlanta, Ga.)

2001

$2,000,000,000

5

Georgia

$892,000,000

All deposits and virtually all assets acquired by First Citizens Bank and Trust Co. in South Carolina. The FDIC and First Citizens agreed to share future losses on the assets.

09/18/2009

Irwin Union Bank FSB (Louisville, Ky.)

2000

$493,000,000

$441,000,000

4

OTS

$425,000,000

All deposits and most assets acquired by First Financial Bank of Ohio. The FDIC and First Financial agreed to share future losses on some assets.

09/18/2009

Irwin Union Bank and Trust Co. (Columbus, Ind.)

1928

$2,700,000,000

$2,100,000,000

23

Indiana

$425,000,000

All deposits and most assets acquired by First Financial Bank of Ohio. The FDIC and First Financial agreed to share future losses on some assets.

09/11/2009

Corus Bank (Chicago, Ill.)

1913

$7,000,000,000

11

OCC

$1,700,000,000

MB Financial Bank in Chicago acquired all the deposits and $3 billion of assets. The FDIC plans to sell the rest of the assets to private investors.

09/11/2009

Brickwell Community Bank (Woodbury, Minn.)

2004

$72,000,000

$63,000,000

1

Minnesota

$22,000,000

All deposits and some assets acquired by CorTrust Bank in South Dakota. The FDIC and CorTrust agreed to share future losses on $65 million in assets.

09/11/2009

Venture Bank (Lacey, Wash.)

1979

$970,000,000

$903,000,000

18

Washington

$298,000,000

All deposits and most assets acquired by First-Citizens Bank and Trust in North Carolina. The FDIC and First-Citizens agreed to share future losses on $715 million in assets.

09/04/2009

First State Bank (Flagstaff, Ariz)

1998

$105,000,000

$95,000,000

6

Arizona

$47,000,000

All deposits and essentially all assets acquired by Sunwest Bank in California.

09/04/2009

Platinum Community Bank (Rolling Meadows, Ill.)

1999

$345,600,000

$305,000,000

2

OTS

$168,000,000

The FDIC couldnâ€™t find a buyer for the failed bank, so they had to pay out all deposits and assume the assets.

09/04/2009

Vantus Bank (Sioux City, Iowa)

1923

$458,000,000

$368,000,000

15

OTS

$168,000,000

All deposits and most assets acquired by Great Southern Bank in Missouri. The FDIC and Great Southern agreed to share future losses on most assets.

09/04/2009

InBank (Oak Forest, Ill.)

1970

$212,000,000

$199,000,000

3

Illinois

$66,000,000

All non-brokered deposits and essentially all assets acquired by MB Financial Bank in Illinois.

09/04/2009

First Bank of Kansas City (Kansas City, Mo.)

1984

$16,000,000

$15,000,000

1

Missouri

$6,000,000

All deposits and assets acquired by Great American Bank in Kansas.

08/28/2009

Affinity Bank (Ventura, Calif.)

1982

$1,000,000,000

$922,000,000

10

California

$254,000,000

All deposits and most assets acquired by Pacific Western Bank in San Diego. The FDIC and Pacific Western agreed to share future losses on $934 million of assets.

08/28/2009

Mainstreet Bank (Forest Lake, Minn.)

1903

$459,000,000

$434,000,000

8

Minnesota

$95,000,000

All deposits and most assets acquired by Central Bank in Stillwater, Minn. The FDIC and Central Bank agreed to share future losses on $268 million of assets.

08/28/2009

Bradford Bank (Baltimore, Md.)

1903

$452,000,000

$383,000,000

9

OTS

$97,000,000

All deposits and most assets acquired by Manufacturers and Traders Trust Co. in Buffalo. The FDIC and M&T agreed to share future losses on $338 million of assets.

08/21/2009

Guaranty Bank (Austin, Texas)

1988

$13,000,000,000

$12,000,000,000

162

OTS

$3,000,000,000

The FDIC sold all non-brokered deposits and most assets to BBVA Compass. The FDIC and BBVA Compass agreed to share future losses on $11 billion of assets.

08/21/2009

First Coweta Bank (Newnan, Ga.)

2004

$167,000,000

$155,000,000

4

Georgia

$48,000,000

The FDIC sold almost all of the deposits and most of the assets to United Bank in Georgia. The FDIC and United Bank agreed to share future losses on most assets.

08/21/2009

CapitalSouth Bank (Birmingham, Ala.)

1975

$617,000,000

$546,000,000

10

Alabama

$151,000,000

The FDIC sold almost all of the deposits and most of the assets to IBERIABANK in Louisiana. The FDIC and IBERIABANK agreed to share future losses on $499 million in assets.

08/21/2009

ebank (Atlanta, Ga.)

1988

$143,000,000

$130,000,000

1

OTS

$63,000,000

All deposits and most assets acquired by Stearns Bank of St. Cloud, Minn. The FDIC and Stearns Bank agreed to share future losses on $111 million of assets.

08/14/2009

Colonial Bank (Montgomery, Ala.)

1917

$25,000,000,000

$20,000,000,000

346

Alabama

$2,800,000,000

Largest bank failures of 2009. All deposits and most assets acquired by BB&T of Winston-Salem, N.C. The FDIC and BB&T agreed to share future losses on$15 billion of assets.

08/14/2009

Community Bank of Nevada (Las Vegas, Nev.)

1995

$1,520,000,000

$1,380,000,000

14

Nevada

$781,500,000

The FDIC couldnâ€™t find a buyer for this bank, so it set up a temporary bank to close up accounts.

08/14/2009

Community Bank of Arizona (Phoenix, Ariz.)

2003

$158,500,000

$143,800,000

4

Arizona

$25,500,000

All deposits and most assets acquired by MidFirst Bank of Oklahoma. The FDIC and MidFirst agreed to share future losses on certain assets.

08/14/2009

Union Bank (Gilbert, Ariz.)

1998

$124,000,000

$112,000,000

1

OCC

$61,000,000

All deposits and $11 million of assets acquired by MidFirst Bank of Oklahoma.

08/14/2009

Dwelling House Savings and Loan (Pittsburgh, Pa.)

1890

$13,400,000

$13,800,000

1

OTS

$6,800,000

All deposits and $3 million of assets acquired by PNC Bank.

08/07/2009

First State Bank (Sarasota, Fla.)

1988

$463,000,000

$387,000,000

9

Florida

$116,000,000

All deposits and most assets acquired by Stearns Bank of Minnesota. The FDIC and Stearns Bank agreed to share future losses.

08/07/2009

Community National Bank of Sarasota County (Venice, Fla.)

1988

$97,000,000

$93,000,000

4

OCC

$24,000,000

All deposits and most assets acquired by Stearns Bank of Minnesota. The FDIC and Stearns Bank agreed to share future losses on most assets.

08/07/2009

Community First Bank (Prineville, Ore.)

1980

$209,000,000

$182,000,000

8

Oregon

$45,000,000

All non-brokered deposits and most assets acquired by Home Federal Bank in Idaho. The FDIC and Home Federal agreed to share future losses on $155 million in assets.

07/31/2009

Mutual Bank (Harvey, Ill.)

1962

$1,600,000,000

12

Illinois

$696,000,000

All deposits and essentially all assets sold to United Central Bank of Garland Texas. The FDIC and United Central agreed to share future losses on $1.3 billion of assets.

07/31/2009

First BankAmericano (Elizabeth, N.J.)

1997

$166,000,000

$157,000,000

6

New Jersey

$15,000,000

All deposits and essentially all the assets acquired by Crown Bank in Brick, N.J.

07/31/2009

Peoples Community Bank (West Chester, Ohio)

1889

$705,800,000

$598,200,000

19

OTS

$129,500,000

All deposits and essentially all assets acquired by First Financial Bank in Hamilton, Ohio. The FDIC and First Financial agreed to share future losses on $657.6 million of assets.

07/31/2009

Integrity Bank (Jupiter, Fla.)

2004

$119,000,000

$102,000,000

1

Florida

$46,000,000

All deposits and roughly half the assets acquired by Stonegate Bank in Fort Lauderdale.

07/31/2009

First State Bank of Altus (Altus, Okla.)

1909

$103,400,000

$98,200,000

2

Oklahoma

$25,200,000

All deposits and most assets acquired by Herring Bank of Amarillo, Texas.

07/24/2009

Security Bank of North Fulton (Alpharetta, Ga.)

2003

$209,000,000

$191,000,000

1

Georgia

N/A

Was one of six failed subsidiaries of Security Bank Corp. of Macon. All deposits and most assets acquired by State Bank and Trust of Pinehurst, Ga. State Bank and Trust and the FDIC agreed to share future losses on most assets.

07/24/2009

Security Bank of North Metro (Woodstock, Ga.)

2002

$224,000,000

$212,000,000

1

Georgia

N/A

Was one of six failed subsidiaries of Security Bank Corp. of Macon. All deposits and most assets acquired by State Bank and Trust of Pinehurst, Ga. State Bank and Trust and the FDIC agreed to share future losses on most assets.

07/24/2009

Security Bank of Gwinnett County (Suwanee, Ga.)

2003

$322,000,000

$292,000,000

1

Georgia

N/A

Was one of six failed subsidiaries of Security Bank Corp. of Macon. All deposits and most assets acquired by State Bank and Trust of Pinehurst, Ga. State Bank and Trust and the FDIC agreed to share future losses on most assets.

07/24/2009

Security Bank of Jones County (Gray, Ga.)

1909

$453,000,000

$387,000,000

1

Georgia

N/A

Was one of six failed subsidiaries of Security Bank Corp. of Macon. All deposits and most assets acquired by State Bank and Trust of Pinehurst, Ga. State Bank and Trust and the FDIC agreed to share future losses on most assets.

07/24/2009

Security Bank of Houston County (Perry, Ga.)

1987

$383,000,000

$320,000,000

5

Georgia

N/A

Was one of six failed subsidiaries of Security Bank Corp. of Macon. All deposits and most assets acquired by State Bank and Trust of Pinehurst, Ga. State Bank and Trust and the FDIC agreed to share future losses on most assets.

07/24/2009

Security Bank of Bibb County (Macon, Ga.)

1988

$1,200,000,000

$1,000,000,000

13

Georgia

$807,000,000

Was one of six failed subsidiaries of Security Bank Corp. of Macon. All deposits and most assets acquired by State Bank and Trust of Pinehurst, Ga. State Bank and Trust and the FDIC agreed to share future losses on most assets.

07/24/2009

Waterford Village Bank (Williamsville, N.Y.)

2007

$61,400,000

$58,000,000

1

New York

$5,600,000

All deposits and most assets acquired by Evans Bank in New York. The FDIC and Evans agreed to share future losses on most assets.

07/17/2009

First Piedmont Bank (Winder, Ga.)

1998

$115,000,000

$109,000,000

2

Georgia

$29,000,000

All deposits and most assets acquired by First American Bank and Trust of Athens, Ga. The FDIC and First American will share future losses on certain assets.

07/17/2009

BankFirst (Sioux Falls, S.D.)

1995

$275,000,000

$254,000,000

2

South Dakota

$91,000,000

All deposits and some assets acquired by Alerus Financial of Grand Forks, N.D. The FDIC sold $177 million of the failed banks loans to Beal Bank of Nevada.

07/17/2009

Temecula Valley Bank (Temecula, Calif.)

1996

$1,500,000,000

$1,300,000,000

11

California

$391,000,000

All non-brokered deposits and most assets acquired by First-Citizens Bank and Trust Co. in Raleigh, N.C. First-Citizens and the FDIC agreed to share future losses on $1,300,000,000 of assets.

07/17/2009

Vineyard Bank (Rancho Cucamonga, Calif.)

1981

$1,900,000,000

$1,600,000,000

16

OCC

$579,000,000

All non-brokered deposits and most assets acquired by California Bank & Trust in San Diego. The FDIC and California Bank & Trust agreed to share future losses on $1.5 billion in assets.

07/10/2009

Bank of Wyoming (Thermopolis, Wyo.)

1978

$70,000,000

$67,000,000

1

Wyoming

$27,000,000

All non-brokered deposits and some assets acquired by Central Bank & Trust in Lander, Wyo.

07/02/2009

The Elizabeth State Bank (Elizabeth, Ill.)

1909

$55,500,000

$50,400,000

2

Illinois

$11,200,000

All assets and most deposits acquired by Galena State Bank and Trust in Galena, Ill. Galena State Bank and the FDIC agreed to share future losses on certain assets.

07/02/2009

First National Bank of Danville (Danville, Ill.)

1857

$166,000,000

$147,000,000

7

OCC

$24,000,000

All deposits and most assets acquired by First Financial Bank of Terre Haute, Ind. The FDIC and First Financial agreed to share future losses on roughly half of the failed bank's assets. This is the oldest bank to fail during the financial crisis.

07/02/2009

Millennium State Bank of Texas (Dallas, Texas)

2003

$118,000,000

$115,000,000

1

Texas

$47,000,000

All of the deposits and some assets acquired by State Bank of Texas in Irving, Texas.

07/02/2009

Founders Bank (Worth, Ill.)

1961

$962,500,000

$888,400,000

11

Illinois

$188,500,000

All deposits and most assets acquired by the PrivateBank and Trust Co. of Chicago. The FDIC and PrivateBank agreed to share future losses on most assets.

07/02/2009

Rock River Bank (Oregon, Ill.)

1935

$77,000,000

$75,800,000

4

Illinois

$27,600,000

All deposits and most assets acquired by The Harvard State Bank in Harvard, Ill. The FDIC and Harvard State Bank agreed to share losses on some assets.

07/02/2009

First State Bank of Winchester (Winchester, Ill.)

1867

$36,000,000

$34,000,000

2

Illinois

$6,000,000

All deposits and most assets acquired by First National Bank of Beardstown in Illinois. The FDIC and First National Bank of Beardstown agreed to share future losses on some assets.

07/02/2009

The John Warner Bank (Clinton, Ill.)

1867

$70,000,000

$64,000,000

3

Illinois

$10,000,000

All deposits and most assets acquired by State Bank of Lincoln in Lincoln, Ill. The FDIC and State Bank of Lincoln agreed to share future losses on some assets.

06/26/2009

Horizon Bank (Pine City, Minn.)

1915

$87,600,000

$69,400,000

2

Minnesota

$33,500,000

Horizon Bank's deposits were bought by Stearns Bank of St. Cloud, Minn., which paid a premium 0.75%. Stearns also agreed to purchase about $84.4 million of assets.

06/26/2009

Neighborhood Community Bank (Newnan, Ga.)

2000

$221,600,000

$191,300,000

4

Georgia

$66,700,000

CharterBank, based in West Point, Ga., will assume all the deposits of Neighborhood Community Bank, agreeing to purchase about $209.6 million of assets.

06/26/2009

Community Bank of West Georgia (Villa Rica, Ga.)

2003

$377,000,000

$307,000,000

1

Georgia

$85,000,000

All deposits and some assets acquired by United Community Bank of Blairsville, Ga. The FDIC and United Community agreed to share future losses on some assets.

06/26/2009

MetroPacific Bank (Irvine, Calif.)

2005

$80,000,000

$73,000,000

1

California

$29,000,000

MetroPacific Bank's deposits, except about $6 million from brokers, were bought by Sunwest Bank of Tustin, Calif.

06/26/2009

Mirae Bank (Los Angeles)

2002

$456,000,000

$362,000,000

5

California

$50,000,000

All of Mirae Bank's deposits were purchased by Wilshire State Bank, also of Los Angeles. In addition, Wilshire will buy about $449 million of the bank's assets, with the FDIC planning to dispose of the rest later.

06/19/2009

First National Bank of Anthony (Anthony, Kan.)

1885

$156,900,000

$142,500,000

6

OCC

$32,200,000

All deposits and some assets acquired by Bank of Kansas, and the FDIC and Bank of Kansas will share future losses on certain assets.

06/19/2009

Cooperative Bank (Wilmington, N.C.)

1898

$970,000,000

$774,000,000

24

North Carolina

$217,000,000

All nonbrokered deposits and some assets acquired by First Bank of Troy, N.C. The FDIC and First Bank agreed to share future losses on some assets.

06/19/2009

Southern Community Bank (Fayetteville, Ga.)

2000

$377,000,000

$307,000,000

5

Georgia

$114,000,000

All deposits and some assets acquired by United Community Bank of Blairsville, Ga. The FDIC and United Community agreed to share future losses on some assets.

06/05/2009

Bank of Lincolnwood (Lincolnwood, Ill.)

1954

$214,000,000

$202,000,000

2

Illinois

$83,000,000

All deposits and some assets acquired by Republic Bank of Chicago (Oak Brook, Ill.)

05/22/2009

Citizens National Bank (Macomb, Ill.)

1890

$437,000,000

$400,000,000

4

Illinois

$106,000,000

Morton Community Bank of Morton, Ill., reached an agreement with the FDIC to assume all of the failed bank's deposits except for $200 million in brokered deposits. Morton will buy $240 million of Citizens's assets and share losses with the FDIC on another $200 million in assets.

05/22/2009

Strategic Capital Bank (Champaign, Ill.)

1999

$537,000,000

$471,000,000

1

Illinois

$173,000,000

Midland States Bank, based in Effingham, Ill., reached an agreement with the FDIC to assume all of the bank's deposits.

05/21/2009

BankUnited FSB (Coral Gables, Fla.)

1984

$12,800,000,000

$8,600,000,000

85

OTS

$4,900,000,000

Bank sold to management team led by John Kanas.

05/08/2009

Westsound Bank (Bremerton, Wash.)

1999

$334,600,000

$304,500,000

0

Washington

$108,000,000

All deposits and some assets acquired by Kitsap Bank of Washington.

05/01/2009

Citizens Community Bank (Ridgewood, N.J.)

2004

$45,100,000

$43,700,000

1

New Jersey

$18,100,000

All deposits and some assets acquired by North Jersey Community Bank of Englewood Cliffs, N.J.

05/01/2009

America West Bank (Layton, Utah)

2000

$299,400,000

$284,100,000

3

Utah

$119,400,000

All deposits and some assets acquired by Cache Valley Bank of Logan, Utah.

05/01/2009

Silverton Bank (Atlanta, Ga.)

1986

$4,100,000,000

$3,300,000,000

6

OCC

$1,300,000,000

The FDIC created a bridge bank so that the company will continue operating as it could not find a buyer.

04/24/2009

American Southern Bank (Kennesaw, Ga.)

2005

$112,300,000

$104,300,000

1

Georgia

$41,900,000

All non-brokered deposits and some assets acquired by Bank of North Georgia.

04/24/2009

Michigan Heritage Bank (Farmington Hills, Mich.)

1997

$186,400,000

$151,700,000

3

Michigan

$71,300,000

Level One Bank of Farmington Hills acquired all non-brokered deposits and some assets of the failed bank.

04/24/2009

First Bank of Beverly Hills (Calabasas, Calif.)

1979

$1,500,000,000

$1,000,000,000

N/A

California

$394,000,000

The FDIC will pay out all insured deposits, as no bank wanted to buy the deposits or assets of this company.

04/24/2009

First Bank of Idaho (Ketchum, Idaho)

1974

$488,900,000

$374,000,000

7

OTS

$191,200,000

All non-brokered deposits acquired by US Bank of Minneapolis.

04/17/2009

Great Basin Bank of Nevada

1993

$270,900,000

$221,400,000

5

Nevada

$42,000,000

All deposits and some assets acquired by Nevada State Bank of Las Vegas. Nevada State Bank and the FDIC will share future losses on $143.4 million of assets.

04/17/2009

American Sterling Bank(Sugar Creek, Mo.)

1934

$181,000,000

$171,900,000

N/A

OTS

$42,000,000

All deposits and some assets acquired by Metcalf Bank of Lee's Summit, Mo. The FDIC and Metcalf agreed to share future losses on $100 million in assets.

04/10/2009

New Frontier Bank (Greeley, Colo.)

2000

$2,000,000,000

$1,500,000,000

N/A

Colorado

$670,000,000

No bank wanted to acquire the deposits or assets of New Frontier Bank, so the FDIC created the Deposit Insurance National Bank of Greeley, which was slated to remain open for 30 days to allow depositors to move their money to other banks.

04/10/2009

Cape Fear Bank (Wilmington, N.C.)

1998

$492,000,000

$403,000,000

8

North Carolina

$131,000,000

All deposits and some assets acquired by First Federal Savings and Loan of Charleston, S.C. The FDIC and First Federal agreed to share future losses on $395 million of Cape Fear's assets.

03/27/2009

Omni National Bank (Atlanta, Ga.)

1976

$956,000,000

$796,000,000

6

OCC

$290,000,000

SunTrust Bank is paying out the insured deposits. No bank acquired the assets of Omni National.

03/20/2009

FirstCity Bank (Stockbridge, Ga.)

1905

$297,000,000

$278,000,000

N/A

Georgia

$100,000,000

The FDIC couldn't find a buyer for the failed bank, so it paid out insured deposits.

03/20/2009

Colorado National Bank (Colorado Springs, Colo.)

1963

$123,500,000

$82,700,000

4

OCC

$9,000,000

Herring Bank of Amarillo, Texas, acquired all assets and some deposits of Colorado National Bank.

03/20/2009

Teambank (Paola, Kan.)

1875

$669,800,000

$492,800,000

17

OCC

$98,000,000

All deposits and some assets acquired by Great Southern Bank of Springfield, Mo. The FDIC and Great Southern will share losses on certain assets.

03/06/2009

Freedom Bank of Georgia (Commerce, Ga.)

2004

$173,000,000

$161,000,000

4

Georgia

$36,200,000

All assets and some deposits acquired by Northeast Georgia Bank.

02/27/2009

Security Savings Bank (Henderson, Nev.)

2000

$238,300,000

$175,200,000

2

Nevada

$59,100,000

All deposits and $111 million in assets acquired by Bank of Nevada.

02/27/2009

Heritage Community Bank (Glenwood, Ill.)

1969

$232,900,000

$218,600,000

4

Illinois

$41,600,000

MB Financial Bank assumed all the deposits of Heritage Community Bank. MB Financial also agreed to share losses on $181 million in assets it acquired from the failure.

02/20/2009

Silver Falls Bank (Silverton, Ore.)

2000

$131,400,000

$116,300,000

3

Oregon

$50,000,000

All deposits and some assets acquired by Citizens Bank of Corvallis, Ore.

02/13/2009

Sherman County Bank (Loup City, Neb.)

1932

$129,800,000

$85,100,000

4

Nebraska

$28,000,000

All deposits and some assets acquired by Heritage Bank of Nebraska.

02/13/2009

Riverside Bank of the Gulf Coast (Cape Coral, Fla.)

1997

$539,000,000

$424,000,000

9

Florida

$201,500,000

All deposits and some assets acquired by TIB Bank of Naples.

02/13/2009

Corn Belt Bank and Trust Co. (Pittsfield, Ill.)

1946

$271,800,000

$234,400,000

2

Illinois

$100,000,000

All deposits and some assets acquired by Carlinville National Bank of Illinois.

02/13/2009

Pinnacle Bank (Beaverton, Ore.)

2002

$73,000,000

$64,000,000

1

Oregon

$12,100,000

All deposits acquired by Washington Trust Bank of Spokane. The FDIC and Washington Trust will share losses on some of the assets acquired by the bank.

02/06/2009

County Bank (Merced, Calif.)

1977

$1,700,000,000

$1,300,000,000

39

California

$135,000,000

All deposits and some assets acquired by Westamerica Bank of San Rafael, Calif.

02/06/2009

Alliance Bank (Culver City, Calif.)

1980

$1,140,000,000

$951,000,000

5

California

$206,000,000

All deposits and some assets acquired by California Bank and Trust of San Diego.

02/06/2009

FirstBank Financial Services (McDonough, Ga.)

2002

$337,000,000

N/A

4

Georgia

$111,000,000

All deposits and some assets acquired by Regions Bank of Birmingham.

01/30/2009

Ocala National Bank (Ocala, Fla.)

1986

$223,500,000

N/A

4

OCC

$99,000,000

All deposits were sold to CenterState Bank in Florida.

01/30/2009

Suburban Federal Savings Bank (Crofton, Md.)

1954

$360,000,000

N/A

7

OTS

$126,000,000

All deposits were sold to Bank of Essex in Virginia.

01/30/2009

MagnetBank (Salt Lake City, Utah)

2005

$292,900,000

N/A

1

Utah

$119,400,000

The FDIC will pay out all depositors, as it couldn't find a buyer.

01/23/2009

First Centennial Bank (Redlands, Calif.)

1990

$803,300,000

N/A

6

California

$227,000,000

Insured deposits bought by First California Bank of Westlake Village, Calif.

01/16/2009

Bank of Clark County (Vancouver, Wash.)

1999

$446,500,000

N/A

2

Washington

$145,000,000

Insured deposits and some assets acquired by Umpqua Bank.

01/16/2009

National Bank of Commerce (Berkeley, Ill.)

1966

$431,000,000

N/A

2

OCC

$97,100,000

All assets and some deposits acquired by Republic Bank.

12/12/2008

Sanderson State Bank (Sanderson, Texas)

1907

$37,000,000

$27,900,000

1

Texas

$12,500,000

All assets and some deposits acquired by Pecos County State Bank of Fort Stockton, Texas.

12/12/2008

Haven Trust Bank (Duluth, Ga.)

2000

$572,000,000

$515,000,000

4

Georgia

$200,000,000

All deposits and some branches acquired by BB & T.

12/05/2008

First Georgia Community Bank (Jackson, Ga.)

1997

$237,500,000

$197,400,000

4

Georgia

$72,000,000

All deposits and some assets acquired by United Bank of Zebulon, Ga.

11/21/2008

PFF Bank & Trust (Pomona, Calif.)

1892

$3,700,000,000

$2,400,000,000

38

OTS

$700,000,000

All deposits and some assets acquired by U.S. Bancorp.

11/21/2008

Downey Savings and Loan (Newport Beach, Calif.)

1957

$12,800,000,000

$9,700,000,000

175

OTS

$1,400,000,000

All deposits and some assets acquired by U.S. Bancorp.

11/21/2008

Community Bank (Loganville, Ga.)

1946

$681,000,000

$611,400,000

4

Georgia

$240,000,000

All deposits and some assets sold to Bank of Essex, based in Tappahannock, Va. (Read more)

11/07/2008

Security Pacific Bank (Los Angeles)

1981

$561,100,000

$450,100,000

4

California

$210,000,000

All deposits and some assets acquired by Pacific Western Bank. (Read more)

11/07/2008

Franklin Bank (Houston, Texas)

1987

$5,100,000,000

$3,700,000,000

46

Texas

$1,600,000,000

All deposits and some assets acquired by Prosperity Bank of El Campo, Texas. (Read more)

10/31/2008

Freedom Bank (Bradenton, Fla.)

2005

$287,000,000

$254,000,000

4

Florida

$104,000,000

All deposits and some assets acquired by Fifth Third Bank. (Read more)

10/24/2008

Alpha Bank & Trust (Alpharetta, Ga.)

2006

$354,100,000

$346,200,000

2

Georgia

$158,100,000

Insured deposits and some assets sold to Stearns Bank of St. Cloud, Minn.

10/10/2008

Meridian Bank (Eldred, Ill.)

1910

$39,180,000

$36,880,000

4

Illinois

$14,500,000

All deposits and some assets acquired by National Bank of Hillsboro, Ill. (Read more)

10/10/2008

Main Street Bank (Northville, Mich.)

2004

$98,000,000

$86,000,000

2

Michigan

$39,000,000

All deposits and some assets acquired by Monroe Bank & Trust. (Read more)

09/25/2008

Washington Mutual (Seattle, Wash.)

1889

$307,000,000,000

$188,300,000,000

2239

OTS

$0

Largest bank failure in U.S. history. All deposits, branches, and some assets acquired by JPMorgan Chase. (Read more)

09/19/2008

Ameribank, Inc. (Northfork, WV)

1906

$115,000,000

$102,000,000

8

OTS

$42,000,000

All of the deposits and certain assets split between Pioneer Community Bank of Iaeger, W.Va., and Citizens Savings Bank of Martins Ferry, Ohio. (Read more)

09/05/2008

Silver State Bank (Henderson, Nev.)

1996

$2,000,000,000

$1,700,000,000

N/A

Nevada

$550,000,000

Insured deposits acquired by Nevada State Bank.

08/29/2008

Integrity Bank (Alpharetta, Ga.)

2000

$1,100,000,000

$974,000,000

5

Georgia

$350,000,000

All deposits and some assets acquired by Regions Bank

08/22/2008

Columbian Bank and Trust Co. (Topeka, Kan.)

1978

$752,000,000

$622,000,000

9

OTS

$60,000,000

Insured deposits and some assets acquired by Citizens Bank and Trust (Chillicothe, Mo.)

08/01/2008

First Priority Bank (Bradenton, Fla.)

2003

$259,000,000

$227,000,000

6

Florida

$72,000,000

Insured deposits and some assets acquired by SunTrust Bank. Some other assets acquired by LNV Corp. (Read more)

07/25/2008

First Heritage Bank (Newport Beach, Calif.)

2005

$254,000,000

$233,000,000

3

OCC

$862,000,000

All deposits and some assets acquired by Mutual of Omaha Bank (Read more)

07/25/2008

First National Bank of Nevada (Reno, Nev.)

1987

$3,400,000,000

$3,000,000,000

25

OCC

$862,000,000

All deposits and some assets acquired by Mutual of Omaha Bank (Read more)

07/11/2008

IndyMac Bank (Pasadena, Calif.)

1936

$32,010,000,000

$19,060,000,000

33

OTS

$8,900,000,000

Bank temporarily being run by FDIC, renamed IndyMac Federal (Read more)

05/30/2008

First Integrity Bank (Staples, Minn.)

1919

$54,700,000

$50,300,000

2

OCC

$2,300,000

All deposits and most assets acquired by First International Bank and Trust of Watford City, N.D. (Read more)

05/09/2008

ANB Financial (Bentonville, Arkansas)

1994

$2,100,000,000

$1,800,000,000

9

OCC

$214,000,000

Insured deposits and some assets acquired by Pulaski Bank and Trust Co. of Little Rock, Ark. (Read more)

03/07/2008

Hume Bank (Hume, Mo.)

1909

$18,700,000

$13,600,000

1

Missouri

N/A

Insured deposits and some assets acquired by Security Bank of Rich Hill, Mo.

01/25/2008

Douglass National Bank (Kansas City, Mo.)

1983

$58,500,000

$53,800,000

3

OCC

$5,600,000

All deposits and most assets acquired by Liberty Bank and Trust, New Orleans, La.

chicagorich · September 8, 2010

And how is a list of banks that went under relevant to this discussion.? Did they go under because they stopped paying on properties they mortgaged and then were sued into oblivion by their lenders.?

NO.

They went under due to their own greedy practices.

The topic at hand is why is it considered somehow unethical for a person to walk away from a seriously underwater mortgage and then suffer possible severe consequences while a corporation can do the exact same thing and nary a feather is ruffled.

radi8 · September 9, 2010

They went under due to their own greedy practices.

+1,000

Banks used to have a novel little thing called an "underwriting department".

Perhaps you remember them.. they'd look at a borrower's financial situation, the debt load the mortgage might impose, their credit history......and as often as not they'd say NO!

Once banks discovered they could write crap loans to people who could never repay, then bundle those crap loans and sell them to a Teacher's retirement fund somewhere and pocket the cash.... underwriting became irrelevant. It was an impediment to profits.

That list of collapsed banks? Good enough for 'em. Let 'em fold. Poorly run businesses should fold.

You have it backwards, Cinders. The financial institutions collapsed first, before there were walk-aways. Goldman, AIG, Lehman.....

The foreclosure & unemployment rates and the resulting walk-aways did not really start to skyrocket until several months later.

caffeinekid · September 9, 2010

They went under due to their own greedy practices.

+1,000

Banks used to have a novel little thing called an "underwriting department".

Perhaps you remember them.. they'd look at a borrower's financial situation, the debt load the mortgage might impose, their credit history......and as often as not they'd say NO!

Griffin discusses this in his book. In fact, he discusses everything necessary to understand the machinations of our financial servitude to banks in every aspect of our lives.

Once banks discovered they could write crap loans to people who could never repay, then bundle those crap loans and sell them to a Teacher's retirement fund somewhere and pocket the cash.... underwriting became irrelevant. It was an impediment to profits.

That list of collapsed banks? Good enough for 'em. Let 'em fold. Poorly run businesses should fold.

You have it backwards, Cinders. The financial institutions collapsed first, before there were walk-aways. Goldman, AIG, Lehman.....

The foreclosure & unemployment rates and the resulting walk-aways did not really start to skyrocket until several months later.

Cinderella can't see the forest for the trees. She never seems to question why it is that the smaller banks were the ones to get hammered while the big ones did not and makes no distinction between the two- small and big. No real debate, just defense.

cinderella · September 12, 2010

And how is a list of banks that went under relevant to this discussion.? Did they go under because they stopped paying on properties they mortgaged and then were sued into oblivion by their lenders.?

NO.

They went under due to their own greedy practices.

The topic at hand is why is it considered somehow unethical for a person to walk away from a seriously underwater mortgage and then suffer possible severe consequences while a corporation can do the exact same thing and nary a feather is ruffled.

I won't deny that banks aren't greedy.

But I won't certainly won't deny that fingers points the other way too. I'm tired of these boo-hoo wannabee victim stories of some homeowners. Nobody held a gun to their head and said "TAKE A SECOND OUT!!! MAX OUT THE VALUE OF YOUR HOME AT THE TOP MARKET!!" and then after they install a pool, take a vacation to the bahamas, go on a shopping spree and a year or two later the market turns...turn around and say "I'm UPSIDE DOWN 100K!!!!...those evil lenders made me do it!!!"

Please.

Lots of folks lied on their NINA loans, the banks never forced them to mistate their income or assets.

I'm tired of a one-sided story where only one guy takes the blame while their are many instances where the homeowner was flat out reckless and greed to boot, yet somehow, they are the victim.

cinderella · September 12, 2010

They went under due to their own greedy practices.

+1,000

Banks used to have a novel little thing called an "underwriting department".

Perhaps you remember them.. they'd look at a borrower's financial situation, the debt load the mortgage might impose, their credit history......and as often as not they'd say NO!

Once banks discovered they could write crap loans to people who could never repay, then bundle those crap loans and sell them to a Teacher's retirement fund somewhere and pocket the cash.... underwriting became irrelevant. It was an impediment to profits.

That list of collapsed banks? Good enough for 'em. Let 'em fold. Poorly run businesses should fold.

You have it backwards, Cinders. The financial institutions collapsed first, before there were walk-aways. Goldman, AIG, Lehman.....

The foreclosure & unemployment rates and the resulting walk-aways did not really start to skyrocket until several months later.

They went under due to their own greedy practices.

+1,000

Banks used to have a novel little thing called an "underwriting department".

Perhaps you remember them.. they'd look at a borrower's financial situation, the debt load the mortgage might impose, their credit history......and as often as not they'd say NO!

Griffin discusses this in his book. In fact, he discusses everything necessary to understand the machinations of our financial servitude to banks in every aspect of our lives.

Once banks discovered they could write crap loans to people who could never repay, then bundle those crap loans and sell them to a Teacher's retirement fund somewhere and pocket the cash.... underwriting became irrelevant. It was an impediment to profits.

That list of collapsed banks? Good enough for 'em. Let 'em fold. Poorly run businesses should fold.

You have it backwards, Cinders. The financial institutions collapsed first, before there were walk-aways. Goldman, AIG, Lehman.....

The foreclosure & unemployment rates and the resulting walk-aways did not really start to skyrocket until several months later.

Cinderella can't see the forest for the trees. She never seems to question why it is that the smaller banks were the ones to get hammered while the big ones did not and makes no distinction between the two- small and big. No real debate, just defense.

Radi...the UW dept is required to follow the guidelines set forth by the feds on lending. Back in the day, the gov't proped up the economy, knowingly by creating guidelines for lending that could make any person qualify.

In early 2007, the guidelines tightened up, and lots of folks could not qualify. It wasn't the UW that set the guidelines, they can only follow them.

But you and caffeine make me laugh. You think subprime is gone???

Please. Subprime is back with vengeance. It is called HAMP.

Who sets the UW guidelines for HAMP? The Treasury. Should anyone whose sole source of income is unemployment be able to qualify for a new home loan? Of course not, that is horrible credit risk. But until recently, if you have 9 months availabel, you are greenlighted. What kind of BS is that? It is called politics, my guess is the gov't knows that a good chunk of modified loans will end up in foreclosure because the income and the guidelines are so wishy washy, but it won't be in this election! And hopefully they can stall out some more foreclosures by mods for the next pres. election.

There was a thread here by a poster, QSM, who was very angry ( at me too... )he would not qualify for a loan mod with unemployment as his sole source of income - he didn't have nine months remaining i think. Yet somehow, it would horrific if a subprimer who didn't deserve a loan slipped through the cracks in the day, but with HAMP, why should it be any different? It is a horrible credit risk where the borrower is unlikely to be able to make payments in the future.

If you remember Radi, I was not for the bailouts. I think I made at least 100+ phone calls to various members of Congress demanding they vote NO on bailing on the bailout. I know you remember....!!!!

Caffeine, you are just one sided. You never consider the other side and always point the finger at the evil banks. Yeah yeah yeah, they gobbled up the smaller banks with their big bucks spent in lobbying congress for the bailout. That doesn't exonerate homeowners who made bad decisions with the purchase of their homes.

chicagorich · September 12, 2010

Radi...the UW dept is required to follow the guidelines set forth by the feds on lending. Back in the day, the gov't proped up the economy, knowingly by creating guidelines for lending that could make any person qualify.

In early 2007, the guidelines tightened up, and lots of folks could not qualify. It wasn't the UW that set the guidelines, they can only follow them.

Under the Greenspan "banks will look after their own self interest so no regulation is required" era, you think the feds set the underwriting guidelines for mortgage lenders.?

You need to check your facts.

.

caffeinekid · September 12, 2010

Radi...the UW dept is required to follow the guidelines set forth by the feds on lending. Back in the day, the gov't proped up the economy, knowingly by creating guidelines for lending that could make any person qualify.

In early 2007, the guidelines tightened up, and lots of folks could not qualify. It wasn't the UW that set the guidelines, they can only follow them.

Under the Greenspan "banks will look after their own self interest so no regulation is required" era, you think the feds set the underwriting guidelines for mortgage lenders.?

You need to check your facts.

Why speak to the symptom when you can speak to the problem?

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