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Failed Bank Christmas - $1.8 B more lost

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posted on Dec, 26 2009 @ 02:43 AM
Cost to the FDIC this week same as last week, $1.8 Billion

Bank Name Est Cost to FDIC
New South Federal Savings Bank $212,300,000
Peoples First Community Bank $556,700,000
RockBridge Commercial Bank $124,200,000
Citizens State Bank $76,600,000
First Federal Bank of California, F.S.B. $146,300,000
Imperial Capital Bank $619,200,000
Independent Bankers' Bank $68,400,000
Total $1.8 Billion

2009 YTD estimated cost to the FDIC is $38.25 Billion with one week to go. This is compared to the 2008 bank failure cost of $18 Billion.

Worst month of 2009 was August with $7.56 Billion in failed bank costs to the FDIC, followed by May with $6.72 Billion and in third place December with $6.24 Billion in costs to the FDIC.

2008 FDIC financial statement showing $17.2 Billion in funds to start off 2009:

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