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Banks That Have Failed in 2008 PDF Print E-mail
Friday, 25 July 2008 11:01

Reporting by Rachelle Younglai

Editing by Tim Dobbyn

(Reuters) - Mortgage lender IndyMac Bancorp Inc was seized on Friday by the Federal Deposit Insurance Corp, which will run the bank while it looks for a buyer.

Following is a list of the U.S. banks that have failed so far in 2008:

  • July 11 - IndyMac Bancorp taken over by U.S. regulators. Total assets of $32.01 billion and total deposits of $19.06 billion as of March 31. Estimated cost to FDIC insurance fund between $4 billion and $8 billion.
  • May 30 - First Integrity Bank closed by regulators. First International Bank and Trust takes over all of the Minnesota-based bank's deposits. First Integrity held $54.7 million in assets and $50.3 million in total deposits.
  • May 9 - ANB Financial NA closed by U.S. regulators. Pulaski Bank and Trust Co takes over the insured deposits. ANB Financial had about $2.1 billion in assets and $1.8 billion in total deposits.
  • March 14 - Bear Stearns taken over by JPMorgan Chase, who paid just $2 a share to take over the investment firm, which a little over a year ago was trading for as high as $170 a share. The deal to buy Bear will avert a looming bankruptcy filing by the investment firm and potentially stave off a new crisis in the financial markets.
  • March 7 - Hume Bank closed by U.S. regulators. Security Bank takes over insured deposits. Hume had total assets of $18.7 million and total deposits of $13.6 million.
  • January 25 - Douglass National Bank closed by regulators. Liberty Bank and Trust Co takes over all deposits. Douglass had $58.5 million in total assets and $53.8 million in total deposits.

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