The year 2009 will go down in history as one full of bank closings.
We’ve looked at the history of bank failures and 2009 was a pretty bad year, though not the worst ever. To get an idea of the damage, Go Banking Rates has compiled a chronological list of 140 bank failures for the year.
Jan. 16, 2oo9:
1. National Bank of Commerce, IL. Acquired by Republic Bank of Chicago.
2. Bank of Clark County, WA. Acquired by Umpqua Bank.
Jan. 23, 2009:
3. 1st Centennial Bank, CA. Acquired by First California Bank.
Jan. 30, 2009:
4. Ocala National Bank, FL. Acquired by CenterState Bank.
5. Suburban FSB, MD. Acquired by Bank of Essex.
6. MagnetBank, UT. No acquiring bank found. Funds covered by FDIC.
Feb. 6, 2009:
7. FirstBank Financial Services, GA. Acquired by Regions Bank.
8. Alliance Bank, CA. Acquired by California Bank & Trust.
9. County Bank, CA. Acquired by Westamerica Bank.
Feb. 13, 2009:
10. Pinnacle Bank of Oregon, OR. Acquired by Washington Trust Bank.
11. Corn Belt Bank & Trust Co., IL. Acquired by the Carlinville National Bank.
12. Riverside Bank of the Gulf Coast, FL. Acquired by TIB Bank.
13. Sherman County Bank, NE. Acquired by Heritage Bank.
Feb. 20, 2009:
14. Silver Falls Bank, OR. Acquired by Citizens Bank.
Feb. 27, 2009:
15. Security Savings Bank, NV. Acquired by Bank of Nevada.
16. Heritage Community Bank, IL. Acquired by MB Financial Bank.
Mar. 6, 2009:
17. Freedom Bank of Georgia, GA. Acquired by Northeast Georgia Bank.
Mar. 20, 2009:
18. TeamBank, NA, KS. Acquired by Great Southern Bank
19. Colorado National Bank, CO. Acquired by Herring Bank.
20. FirstCity Bank, GA. No acquiring bank found. Funds covered by the FDIC.
March 27, 2009:
21. Omni National Bank, GA. Paying agent: SunTrust Bank.
April 10, 2009:
22. New Frontier Bank, CO. The FDIC created the Deposit Insurance National Bank of Greeley to address New Frontier accounts and problems.
23. Cape Fear Bank, NC. Acquired by First Federal Savings and Loan Association.
April 17, 2009:
24. Great Basin Bank of Nevada, NV. Acquired by Nevada State Bank.
25. American Sterling Bank, MO. Acquired by Metcalf Bank.
April 24, 2009:
26. First Bank of Idaho, ID. Acquired by U.S. Bank
27. First Bank of Beverly Hills, CA. No acquiring bank found. Funds covered by the FDIC.
28. Michigan Heritage Bank, MI. Acquired by Level One Bank.
29. American Southern Bank, GA. Acquired by Bank of North Georgia.
May 1, 2009:
30. America West Bank, UT. Acquired by Cache Valley Bank.
31. Citizens Community Bank, NJ. Acquired by North Jersey Community Bank.
32. Silverton Bank, NA, GA. FDIC created the Silverton Bridge Bank to transition accounts to other banks.
May 8, 2009:
33. Westsound Bank, WA. Acquired by Kitsap Bank.
May 21, 2009:
34. BankUnited, FSB, FL. Acquired by BankUnited, Coral Gables.
May 22, 2009:
35. Citizens National Bank, IL. Acquired by Morton Community Bank.
36. Strategic Capital Bank, IL. Acquired by Midland States Bank.
June 5, 2009:
37. Bank of Lincolnwood, IL. Acquired by Republic Bank of Chicago.
June 19, 2009:
38. First National Bank of Anthony, KS. Acquired by Bank of Kansas.
39. Cooperative Bank, NC. Acquired by First Bank.
40. Southern Community Bank, GA. Acquired by United Community Bank.
June 26, 2009:
41. Mirae Bank, CA. Acquired by Wilshire State Bank.
42. MetroPacific Bank, CA. Acquired by Sunwest Bank.
43. Horizon Bank, MN. Acquired by Stearns
This is scary! Yikes!