Friday, March 26, 2010

First Quarter 2010 Failed Banks Statistics

Posted 3.26.2010 7:32 EST

March and First Quarter 2010 Summary

In March 2010, 19 US banking institutions failed with a total of $7 Billion in combined assets. The FDIC entered into loss-share transactions (an FDIC arrangement with acquiring bank for FDIC to assume a share of future loan losses) in 16 of the failures covering a total of almost $3.8 Billion of failed bank assets or 54% of the failed asset balance. The March cost to the Deposit Insurance Fund ("DIF") was $2.1 Billion.

In the first quarter of 2010 41 banks failed with a total of $22.8 Billion in combined assets. The FDIC entered into loss-share transactions in 35 cases covering a total of $15.4 Billion of failed bank assets or 67% of the failed asset total. The total First Quarter cost to the Deposit Insurance Fund ("DIF") was $6.5 Billion.