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Federal Deposit
Insurance Corporation

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

Bank Failures in Brief – 2017

There were 8 bank failures in 2017. See detailed descriptions below.

The graph shows there were 8 bank failures in 2017. Closings in January 2017 Bank Failures in March 2017 Bank Failures in April 2017 Bank Failures in May 2017 Bank Failures in October 2017 Bank Failures in December 2017

Please select the buttons below for other years' information.

2017 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 2 0 1 1 2 0 0 0 0 1 0 1
Total Assets (Millions) 487.6 0 68.2 4,740.0 1,034.4 0 0 0 0 34.2 0 166.3

2017 Bank Failure Details
Bank Name, City, ST Press Release
(PR)
Closing Date Approx. Asset
(Millions)
Approx. Deposit
(Millions)
Acquirer & Transaction
December
Washington Federal Bank for Savings, Chicago, IL PR-096-2017 December 15, 2017 $166.3 $144.0 Royal Savings Bank has agreed to assume the non-brokered insured deposits.
October
The Farmers and Merchants State Bank of Argonia, Argonia, KS PR-080-2017 October 13, 2017 $34.2 $29.6 Conway Bank has agreed to assume all deposits.
May
Fayette County Bank, Saint Elmo, IL PR-041-2017 May 26, 2017 $34.4 $34.0 United Fidelity Bank, fsb has agreed to assume all deposits.
Guaranty Bank, Milwaukee, WI, (d/b/a BestBank in Georgia & Michigan) PR-037-2017 May 5, 2017 $1,000.0 $1,000.0 First-Citizens Bank & Trust Company has agreed to assume all deposits.
AprilBack to top
First NBC Bank, New Orleans, LA PR-034-2017 April 28, 2017 $4,740.0 $3,540.0 Whitney Bank has agreed to assume the transactional deposits (approximately $1.6 billion), and to purchase approximately $1 billion of the failed bank's assets. The FDIC mailed checks for the time deposits (CDs and IRAs) and retained the remaining assets for later disposition.
March
Proficio Bank, Cottonwood Heights, UT PR-019-2017 March 3, 2017 $68.2 $65.0 Cache Valley Bank has agreed to assume all deposits.
January
Seaway Bank and Trust Company, Chicago, IL PR-009-2017 January 27, 2017 $361.2 $307.1 State Bank of Texas has agreed to assume all deposits.
Harvest Community Bank, Pennsville, NJ PR-004-2017 January 13, 2017 $126.4 $123.8 First-Citizens Bank & Trust Company has agreed to assume all deposits.

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