Friday, June 25, 2010

A Very Quiet Month: June 2010 Bank Failure Summary

In June 2010, only 8 US banking institutions failed with a total of nearly $4.9 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 6 of the failures covering a total of $3.2 Billion of failed bank assets or 67% of the June failed asset balance. The June cost to the Deposit Insurance Fund ("DIF") was $837.5 Million (or 17% of the failed bank asset total).