2008 in Brief
There were 25 bank failures in 2008. See detailed descriptions below.
For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
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2008 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 | 1 | 0 | 1 | 0 | 2 | 0 | 3 | 3 | 3 | 4 | 5 | 3 |
| Total Assets (Millions) | $58.5 | $0 | $18.7 | $0 | $2,154.7 | $0 | $35,664.0 | $2,111.0 | $309,115.0 | $778.3 | $22,842.1 | $846.5 |
| Bank Name | Press Release | Closing Date | Approx. Asset (Millions) |
Approx. Deposit (Millions) |
Acquirer & Transaction |
|---|---|---|---|---|---|
| December Back to Top | |||||
| Sanderson State Bank, Sanderson, TX | PR-135-2008 | December 12, 2008 | $37.0 | $27.9 | Pecos County State Bank, Fort Stockton, TX assumed all deposits. |
| Haven Trust Bank, Duluth, GA | PR-134-2008 | December 12, 2008 | $572.0 | $515.0 | Branch Banking and Trust Company, Winston-Salem, NC assumed all deposits. |
| First Georgia Community Bank, Jackson, GA | PR-132-2008 | December 5, 2008 | $237.5 | $197.4 | United Bank, Zebulon, GA assumed all deposits. |
| November Back to Top | |||||
| PFF Bank and Trust, Pomona, CA | PR-124-2008 | November 21, 2008 | $3,700.0 | $2,400.0 | In a transaction facilitated by the FDIC, U.S. Bank, National Association, acquired the banking operations of PFF Bank and Trust, and agreed to assume all deposits. |
| Downey Savings and Loan Association, F.A., Newport Beach, CA | PR-124-2008 | November 21, 2008 | $12,800.0 | $9,700.0 | In a transaction facilitated by the FDIC, U.S. Bank, National Association, acquired the banking operations of Downey Savings and Loan Association, and agreed to assume all deposits |
| The Community Bank, Loganville, GA | PR-123-2008 | November 21, 2008 | $681.0 | $611.4 | Bank of Essex, Tappahannock, VA agreed to assume all deposits. |
| Security Pacific Bank, Los Angeles, CA | PR-114-2008 | November 7, 2008 | $561.1 | $450.1 | Pacific Western Bank, Los Angeles, California agreed to assume all deposits. |
| Franklin Bank, SSB, Houston, TX | PR-113-2008 | November 7, 2008 | $5,100.0 | $3,700.0 | Prosperity Bank, El Campo, TX agreed to assume all deposits. |
| October Back to Top | |||||
| Freedom Bank, Bradenton, FL | PR-109-2008 | October 31, 2008 | $287.0 | $254.0 | Fifth Third Bank of Grand Rapids, MI agreed to assume all deposits. |
| Alpha Bank & Trust, Alpharetta, GA | PR-106-2008 | October 24, 2008 | $354.1 | $346.2 | Stearns Bank National Association, St. Cloud, MN agreed to assume the non-brokered insured deposits. |
| Meridian Bank, Eldred, IL | PR-099-2008 | October 10, 2008 | $39.18 | $36.88 | National Bank of Hillsboro, IL assumed all deposits. |
| Main Street Bank, Northville, MI | PR-098-2008 | October 10, 2008 | $98.0 | $86.0 | Monroe Bank & Trust of Monroe, MI agreed to assume all deposits. |
| September Back to Top | |||||
| Washington Mutual Bank, Henderson, NV and Washington Mutual Bank, FSB, Park City, UT | PR-085-2008 | September 25, 2008 | $307,000.0 | $188,000.0 | In a transaction facilitated by the FDIC, JPMorgan Chase acquired the banking operations of Washington Mutual Bank, and agreed to assume all deposits (approximately $188 billion). |
| Ameribank, Inc., Northfork, WV | PR-082-2008 | September 19, 2008 | $115.0 | $102.0 | Pioneer Community Bank, Inc., Iaeger, West Virginia agreed to assume all deposits at Ameribank's WV branches; The Citizens Savings Bank, Martins Ferry, OH agreed to assume all deposits at Ameribank's Ohio branches. |
| Silver State Bank, Henderson, NV | PR-077-2008 | September 5, 2008 | $2,000.0 | $1,700.0 | Nevada State Bank, Las Vegas, NV agreed to assume the non-brokered insured deposits. |
| August Back to Top | |||||
| Integrity Bank, Alpharetta, GA | PR-074-2008 | August 29, 2008 | $1,100.0 | $974.0 | Regions Bank, Birmingham, AL agreed to assume all deposits. |
| The Columbian Bank and Trust Company, Topeka, KS | PR-069-2008 | August 22, 2008 | $752.0 | $622.0 | Citizens Bank and Trust Company, Chillicothe, MO agreed to assume all insured non-brokered deposit accounts. |
| First Priority Bank, Bradenton, FL | PR-065-2008 | August 1, 2008 | $259.0 | $227.0 | SunTrust Bank, Atlanta, GA agreed to assume the non-brokered insured deposits. |
| July Back to Top | |||||
| First National Bank of Nevada, Reno, NV | PR-063-2008 | July 25, 2008 | $3,400.0 | $3,000.0 | Mutual of Omaha Bank, Omaha, Nebraska agreed to assume all deposits (approximately $3.0 billion). On June 30, 2008, First National Bank of Arizona, Scottsdale, Arizona, merged with First National Bank of Nevada and was included in this action. |
| First Heritage Bank, N.A., Newport Beach, CA | PR-063-2008 | July 25, 2008 | $254.0 | $233.0 | Mutual of Omaha Bank, Omaha, NE agreed to assume all deposits (approximately $233 million). |
| IndyMac Bank, F.S.B., and IndyMac Federal Bank, F.S.B., Pasadena, CA | PR-042-2009 PR-056-2008 |
July 11, 2008 | $32,010.0 | $19,060.0 | Non-brokered insured deposits and substantially all of the assets were transferred to IndyMac Federal Bank, F.S.B., Pasadena, California. The FDIC was named Conservator. |
| May Back to Top | |||||
| First Integrity Bank N.A., Staples, MN | PR-041-2008 | May 30, 2008 | $54.7 | $50.3 | First International Bank and Trust, Watford City, ND agreed to assume all deposits. |
| ANB Financial, N.A., Bentonville, AR | PR-033-2008 | May 9, 2008 | $2,100.0 | $1,800.0 | Pulaski Bank and Trust Company, Little Rock, AR agreed to assume the non-brokered insured deposits (approximately $212.9 million). |
| March Back to Top | |||||
| Hume Bank, Hume, MO | PR-021-2008 | March 7, 2008 | $18.7 | $13.6 | Security Bank, Rich Hill, MO agreed to assume the insured deposits (approximately $12.5 million). |
| January Back to Top | |||||
| Douglass National Bank, Kansas City, MO | PR-007-2008 | January 25, 2008 | $58.5 | $53.8 | Liberty Bank and Trust Company of New Orleans, LA agreed to assume all deposits (approximately $53.8 million). |