List of Failed Banks, Updated October 26, 2009

As of October 26, 2009, over 100 banks have failed this year. Most of these are smaller regional banks who, in order to compete with larger banks, offered risky loans and are now facing customer defaults. Larger banks were offered government bailouts to prevent failure, but these smaller banks whose failures are not seen as major risks to the economy are left without taxpayer assistance.

The FDIC covers savings accounts, checking accounts, and certificates of deposit to ensure that customers hardly notice when one of these smaller banks fail. As long as a bank is a member of FDIC, and most are, customers should be confident that even if a bank fails, they will be able to withdraw their deposits within the coverage limit. Predicting the increase of bank failures this year, the FDIC decided over a year ago to increase its insurance limits. In 2008, only 26 banks failed compared to 106 so far this year.

Although there is often worry in the press that FDIC is underfunded and might run out of money, that situation is highly unlikely. The FDIC is requiring banks to start paying their FDIC premiums which have largely been ignored for decades to increase its available funds. The FDIC also has an extensive line of credit with the Treasury, and because Congress will always vote to make sure the FDIC will be able to cover necessary expenses, it is in effect a limitless credit line.

Here is a full list of banks that have failed since 2000. I will update this list as necessary.

Bank	Location	Failed Date
Riverview Community Bank	Otsego, MN	October 23, 2009
Partners Bank	Naples, FL	October 23, 2009
Hillcrest Bank Florida	Naples, FL	October 23, 2009
Flagship National Bank	Bradenton, FL	October 23, 2009
First DuPage Bank	Westmont, IL	October 23, 2009
Bank of Elmwood	Racine, WI	October 23, 2009
American United Bank	Lawrenceville, GA	October 23, 2009
San Joaquin Bank	Bakersfield, CA	October 16, 2009
Warren Bank	Warren, MI	October 2, 2009
Southern Colorado National Bank	Pueblo, CO	October 2, 2009
Jennings State Bank	Spring Grove, MN	October 2, 2009
Georgian Bank	Atlanta, GA	September 25, 2009
Irwin Union Bank, F.S.B.	Louisville, KY	September 18, 2009
Irwin Union Bank and Trust Company	Columbus, IN	September 18, 2009
Venture Bank	Lacey, WA	September 11, 2009
Corus Bank, N.A.	Chicago, IL	September 11, 2009
Brickwell Community Bank	Woodbury, MN	September 11, 2009
Vantus Bank	Sioux City, IA	September 4, 2009
Platinum Community Bank	Rolling Meadows, IL	September 4, 2009
InBank	Oak Forest, IL	September 4, 2009
First State Bank	Flagstaff, AZ	September 4, 2009
First Bank of Kansas City	Kansas City, MO	September 4, 2009
Mainstreet Bank	Forest Lake, MN	August 28, 2009
Bradford Bank	Baltimore, MD	August 28, 2009
Affinity Bank	Ventura, CA	August 28, 2009
First Coweta Bank	Newnan, GA	August 21, 2009
CapitalSouth Bank	Birmingham, AL	August 21, 2009
Guaranty Bank	Austin, TX	August 21, 2009
ebank	Atlanta, GA	August 21, 2009
Colonial Bank	Montgomery, AL	August 14, 2009
Community Bank of Nevada	Las Vegas, NV	August 14, 2009
Union Bank, National Association	Gilbert, AZ	August 14, 2009
Dwelling House Savings and Loan Association	Pittsburgh, PA	August 14, 2009
Community Bank of Arizona	Phoenix, AZ	August 14, 2009
First State Bank	Sarasota, FL	August 7, 2009
Community National Bank of Sarasota County	Venice, FL	August 7, 2009
Community First Bank	Prineville, OR	August 7, 2009
Integrity Bank	Jupiter, FL	July 31, 2009
Peoples Community Bank	West Chester, OH	July 31, 2009
Mutual Bank	Harvey, IL	July 31, 2009
First State Bank of Altus	Altus, OK	July 31, 2009
First BankAmericano	Elizabeth, NJ	July 31, 2009
Waterford Village Bank	Williamsville, NY	July 24, 2009
Security Bank of North Metro	Woodstock, GA	July 24, 2009
Security Bank of North Fulton	Alpharetta, GA	July 24, 2009
Security Bank of Jones County	Gray, GA	July 24, 2009
Security Bank of Houston County	Perry, GA	July 24, 2009
Security Bank of Gwinnett County	Suwanee, GA	July 24, 2009
Security Bank of Bibb County	Macon, GA	July 24, 2009
Vineyard Bank	Rancho Cucamonga, CA	July 17, 2009
Temecula Valley Bank	Temecula, CA	July 17, 2009
First Piedmont Bank	Winder, GA	July 17, 2009
BankFirst	Sioux Falls, SD	July 17, 2009
Bank of Wyoming	Thermopolis, WY	July 10, 2009
Rock River Bank	Oregon, IL	July 2, 2009
Millennium State Bank of Texas	Dallas, TX	July 2, 2009
John Warner Bank	Clinton, IL	July 2, 2009
Founders Bank	Worth, IL	July 2, 2009
First State Bank of Winchester	Winchester, IL	July 2, 2009
First National Bank of Danville	Danville, IL	July 2, 2009
Elizabeth State Bank	Elizabeth, IL	July 2, 2009
Mirae Bank	Los Angeles, CA	June 26, 2009
Horizon Bank	Pine City, MN	June 26, 2009
Neighborhood Community Bank	Newnan, GA	June 26, 2009
MetroPacific Bank	Irvine, CA	June 26, 2009
Community Bank of West Georgia	Villa Rica, GA	June 26, 2009
Southern Community Bank	Fayetteville, GA	June 19, 2009
First National Bank of Anthony	Anthony, KS	June 19, 2009
Cooperative Bank	Wilmington, NC	June 19, 2009
Bank of Lincolnwood	Lincolnwood, IL	June 5, 2009
Strategic Capital Bank	Champaign, IL	May 22, 2009
Citizens National Bank	Macomb, IL	May 22, 2009
BankUnited, FSB	Coral Gables, FL	May 21, 2009
Westsound Bank	Bremerton, WA	May 8, 2009
America West Bank	Layton, UT	May 1, 2009
Silverton Bank, NA	Atlanta, GA	May 1, 2009
Citizens Community Bank	Ridgewood, NJ	May 1, 2009
American Southern Bank	Kennesaw, GA	April 24, 2009
Michigan Heritage Bank	Farmington Hills, MI	April 24, 2009
First Bank of Idaho	Ketchum, ID	April 24, 2009
First Bank of Beverly Hills	Calabasas, CA	April 24, 2009
Great Basin Bank of Nevada	Elko, NV	April 17, 2009
American Sterling Bank	Sugar Creek, MO	April 17, 2009
New Frontier Bank	Greeley, CO	April 10, 2009
Cape Fear Bank	Wilmington, NC	April 10, 2009
Omni National Bank	Atlanta, GA	March 27, 2009
FirstCity Bank	Stockbridge, GA	March 20, 2009
TeamBank, NA	Paola, KS	March 20, 2009
Colorado National Bank	Colorado Springs, CO	March 20, 2009
Freedom Bank of Georgia	Commerce, GA	March 6, 2009
Security Savings Bank	Henderson, NV	February 27, 2009
Heritage Community Bank	Glenwood, IL	February 27, 2009
Silver Falls Bank	Silverton, OR	February 20, 2009
Corn Belt Bank & Trust Co.	Pittsfield, IL	February 13, 2009
Sherman County Bank	Loup City, NE	February 13, 2009
Riverside Bank of the Gulf Coast	Cape Coral, FL	February 13, 2009
Pinnacle Bank of Oregon	Beaverton, OR	February 13, 2009
FirstBank Financial Services	McDonough, GA	February 6, 2009
County Bank	Merced, CA	February 6, 2009
Alliance Bank	Culver City, CA	February 6, 2009
Suburban FSB	Crofton, MD	January 30, 2009
Ocala National Bank	Ocala, FL	January 30, 2009
MagnetBank	Salt Lake City, UT	January 30, 2009
1st Centennial Bank	Redlands, CA	January 23, 2009
Bank of Clark County	Vancouver, WA	January 16, 2009
National Bank of Commerce	Berkeley, IL	January 16, 2009
Sanderson State Bank	Sanderson, TX	December 12, 2008
Haven Trust Bank	Duluth, GA	December 12, 2008
First Georgia Community Bank	Jackson, GA	December 5, 2008
PFF Bank & Trust	Pomona, CA	November 21, 2008
Downey Savings & Loan	Newport Beach, CA	November 21, 2008
Community Bank	Loganville, GA	November 21, 2008
Franklin Bank, SSB	Houston, TX	November 7, 2008
Security Pacific Bank	Los Angeles, CA	November 7, 2008
Freedom Bank	Bradenton, FL	October 31, 2008
Alpha Bank & Trust	Alpharetta, GA	October 24, 2008
Meridian Bank	Eldred, IL	October 10, 2008
Main Street Bank	Northville, MI	October 10, 2008
Washington Mutual Bank FSB	Park City, UT	September 25, 2008
Washington Mutual Bank	Henderson, NV	September 25, 2008
Ameribank	Northfork, WV	September 19, 2008
Silver State Bank	Henderson, NV	September 5, 2008
Integrity Bank	Alpharetta, GA	August 29, 2008
Columbian Bank & Trust	Topeka, KS	August 22, 2008
First Priority Bank	Bradenton, FL	August 1, 2008
First National Bank of Nevada	Reno, NV	July 25, 2008
First Heritage Bank, NA	Newport Beach, CA	July 25, 2008
IndyMac Bank	Pasadena, CA	July 11, 2008
First Integrity Bank, NA	Staples, MN	May 30, 2008
ANB Financial, NA	Bentonville, AR	May 9, 2008
Hume Bank	Hume, MO	March 7, 2008
Douglass National Bank	Kansas City, MO	January 25, 2008
Miami Valley Bank	Lakeview, OH	October 4, 2007
NetBank	Alpharetta, GA	September 28, 2007
Metropolitan Savings Bank	Pittsburgh, PA	February 2, 2007
Bank of Ephraim	Ephraim, UT	June 25, 2004
Reliance Bank	White Plains, NY	March 19, 2004
Guaranty National Bank of Tallahassee	Tallahassee, FL	March 12, 2004
Dollar Savings Bank	Newark, NJ	February 14, 2004
Pulaski Savings Bank	Philadelphia, PA	November 14, 2003
First National Bank of Blanchardville	Blanchardville, WI	May 9, 2003
Southern Pacific Bank	Torrance, CA	February 7, 2003
Farmers Bank of Cheneyville	Cheneyville, LA	December 17, 2002
Bank of Alamo	Alamo, TN	November 8, 2002
AmTrade International Bank	Atlanta, GA	September 30, 2002
Universal Federal Savings Bank	Chicago, IL	June 27, 2002
Connecticut Bank of Commerce	Stamford, CT	June 26, 2002
New Century Bank	Shelby Township, MI	March 28, 2002
Net 1st National Bank	Boca Raton, FL	March 1, 2002
NextBank, NA	Phoenix, AZ	February 7, 2002
Oakwood Deposit Bank Co.	Oakwood, OH	February 1, 2002
Bank of Sierra Blanca	Sierra Blanca, TX	January 18, 2002
Hamilton Bank, NA	Miami, FL	January 11, 2002
Sinclair National Bank	Gravette, AR	September 7, 2001
Superior Bank, FSB	Hinsdale, IL	July 27, 2001
Malta National Bank	Malta, OH	May 3, 2001
First Alliance Bank & Trust Co.	Manchester, NH	February 2, 2001
National State Bank of Metropolis	Metropolis, IL	December 14, 2000
Bank of Honolulu	Honolulu, HI	October 13, 2000