Tuesday, February 2, 2010

January 2010 Is Over and the Failed Bank Statistics Are In

Posted 2.2.2010

January 2010 came to a close and 15 US banking institutions were shuttered during the month involving a total of $10.9 Billion in combined assets. The average size of closed institution in January was $727.5 Million. The FDIC entered into loss-share transactions (an FDIC arrangement with acquiring bank to assume a share of future loan losses) in 13 cases covering a total of $7.3 Billion of failed bank assets or roughly two thirds of the $10.9 Billion failed asset total. The January cost to the Deposit Insurance Fund ("DIF") was $3.4 Billion.