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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. See detailed descriptions below.

The graph shows there were 3 bank failures in 2007. Closings in February 2007 Bank Failures in September 2007 Bank Failures in October 2007

Please select the buttons below for other years' information.

2007 Summary by Month
(Approximate asset dollar volume based on figures from the press releases)
Months Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Bank Failures 0 1 0 0 0 0 0 0 1 1 0 0
Total Assets (Millions) 0 15.8 0 0 0 0 0 0 2,500.0 86.7 0 0

2007 Bank Failure Details
Bank Name, City, ST Press Release
(PR)
Closing Date Approx. Asset
(Millions)
Approx. Deposit
(Millions)
Acquirer & Transaction
October
Miami Valley Bank, Lakeview, OH PR-83-2007 October 4, 2007 $86.7 $76.0 The Citizens Banking Company, Sandusky, OH agreed to assume all deposits.
September
NetBank, Alpharetta, GA PR-81-2007 September 28, 2007 $2,500.0 $2,300.0 ING Bank, fsb (ING DIRECT) has agreed to assume $1.5 billion of the failed bank's insured non-brokered deposits.
February
Metropolitan Savings, Pittsburgh, PA PR-9-2007 February 2, 2007 $15.8 $12.0 Allegheny Valley Bank of Pittsburgh, PA has agreed to assume approximately $12.0 million of insured deposits.

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