Photo by andrewcarroll
The FDIC has reported that there are 171 firms on its list of troubled banks. This number has grown, and is now the largest it’s been since 1995.
“We’ve had profound problems in our financial markets that are taking a rising toll on the real economy,” said Sheila Bair, FDIC chairman, at a press conference. “Today’s report reflects these challenges.”
The FDIC does not reveal the names of the banks, but does show the total assets of the troubled institutions to be $115.6 billion. This is the first time since 1994 that the amount has exceeded $100 billion.
On Friday, three more banks where added to the failed list, bringing the total number of failed institutions so far this year to 22, including Washington Mutual, the largest bank failing in history.
- PFF Bank and Trust, Pomona, CA
- Downey Savings and Loan, Newport Beach, CA
- The Community Bank, Loganville, GA
- Security Pacific Bank, Los Angeles, CA
- Franklin Bank, SSB, Houston, TX
- Freedom Bank, Bradenton, FL
- Alpha Bank & Trust, Alpharetta, GA
- Meridian Bank, Eldred, IL
- Main Street Bank, Northville, MI
- Washington Mutual Bank, Henderson, NV and Washington Mutual Bank FSB, Park City, UT
- Ameribank, Northfork, WV
- Silver State Bank, Henderson, NV
- Integrity Bank, Alpharetta, GA
- The Columbian Bank and Trust, Topeka, KS
- First Priority Bank, Bradenton, FL
- First Heritage Bank, NA, Newport Beach, CA
- First National Bank of Nevada, Reno, NV
- IndyMac Bank, Pasadena, CA
- First Integrity Bank, NA, Staples, MN
- ANB Financial, NA, Bentonville, AR
- Hume Bank, Hume, MO
- Douglass National Bank, Kansas City, MO
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