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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Bank Failures in Brief

2007

There were 3 bank failures in 2007. The list of Bank Failures in Brief was updated through October 4, 2007, the date of the last bank closing. Please address questions on this subject to the Customer Service Hotline (telephone: 888-206-4662).

October

Miami Valley Bank, Lakeview, Ohio, with approximately $86.7 million in assets and $76 million in total deposits was closed.  The Citizens Bank Company has agreed to assume $62 million of the failed bank's insured deposits. (PR-83-2007)

September

NetBank, Alpharetta, Georgia, with approximately $2.5 billion in assets and $2.3 billion in total deposits was closed.  ING Bank, fsb (ING DIRECT) has agreed to assume $1.5 billion of the failed bank's insured non-brokered deposits. (PR-81-2007)

February

Metropolitan Savings, Pittsburgh, Pennsylvania, with approximately $15.8 million in assets was closed. Allegheny Valley Bank of Pittsburgh, Pennsylvania has agreed to assume approximately $12.0 million of insured deposits. (PR-9-2007)



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