2010 list of failed banks

2010 list of failed banks

Failed bank	Date closed	Estimated cost to DIF ($millions)
Haven Trust Bank Florida, Ponte Verde Beach, FL	9/24/2010	31.9
North County Bank, Arlington, WA	9/24/2010	72.8
Maritime Savings Bank, West Allis, WI	9/17/2010	83.6
Bramble Savings Bank, Milford, OH	9/17/2010	14.6
The Peoples Bank, Winder, GA	9/17/2010	98.9
First Commerce Community Bank, Douglasville, GA	9/17/2010	71.4
Bank of Ellijay, Ellijay, GA	9/17/2010	55.2
ISN Bank, Cherry Hill, NJ	9/17/2010	23.9
Horizon Bank, Bradenton, FL	9/10/2010	58.9
Sonoma Valley Bank, Sonoma, CA	8/20/2010	10.1
Los Padres Bank, Solvang, CA	8/20/2010	8.7
Butte Community Bank, Chico, CA	8/20/2010	17.4
Pacific State Bank, Stockton, CA	8/20/2010	32.6
ShoreBank, Chicago, IL	8/20/2010	367.7
Imperial Savings and Loan Association, Martinsville, VA	8/20/2010	3.5
Independent National Bank, Ocala, FL	8/20/2010	23.2
Community National Bank at Bartow, Bartow, FL	8/20/2010	10.3
Palos Bank and Trust Company, Palos Heights, IL	8/13/2010	72
Ravenswood Bank, Chicago, IL	8/6/2010	68.1
LibertyBank, Eugene, OR	7/30/2010	115.3
The Cowlitz Bank, Longview, WA	7/30/2010	68.9
Coastal Community Bank, Panama City Beach, FL	7/30/2010	94.5
Bayside Savings Bank, Port Saint Joe, FL	7/30/2010	16.2
Northwest Bank and Trust, Acworth, GA	7/30/2010	39.8
Home Valley Bank, Cave Junction, OR	7/23/2010	37.1
Southwest USA Bank, Las Vegas, NV	7/23/2010	74.1
Community Security Bank, New Prague, MN	7/23/2010	18.6
Thunder Bank, Sylvan Grove, KS	7/23/2010	4.5
Williamsburg First National Bank, Kingstree, SC	7/23/2010	8.8
Crescent Bank and Trust Company, Jasper, GA	7/23/2010	242.4
Sterling Bank, Lantana, FL	7/23/2010	45.5
Mainstreet Savings Bank FSB, Hastings, MI	7/16/2010	11.4
Olde Cypress Community Bank, Clewiston, FL	7/16/2010	31.5
Turnberry Bank, Aventura, FL	7/16/2010	34.4
Metro Bank of Dade County, Miami, FL	7/16/2010	67.6
First National Bank of the South, Spartanburg, SC	7/16/2010	74.9
Woodlands Bank, Bluffton, SC	7/16/2010	115
Home National Bank, Blackwell, OK	7/09/2010	78.7
USA Bank, Port Chester, NY	7/09/2010	61.7
Ideal Federal Savings Bank, Baltimore, MD	7/09/2010	2.1
Bay National Bank, Baltimore, MD	7/09/2010	17.4
High Desert State Bank, Albuquerque, NM	6/25/2010	20.9
First National Bank, Savannah, GA	6/25/2010	68.9
Peninsula Bank, Englewood, FL	6/25/2010	194.8
Nevada Security Bank, Reno, NV	6/18/2010	80.9
Washington First International Bank, Seattle, WA	6/11/2010	158.4
TierOne Bank, Lincoln, NE	6/04/2010	297.8
Arcola Homestead Savings Bank, Arcola, IL	6/04/2010	3.2
First National Bank, Rosedale, MS	6/04/2010	12.6
Pinehurst Bank, Saint Paul, MN	5/21/2010	6
Midwest Bank and Trust Company, Elmwood Park, IL	5/14/2010	216.4
Southwest Community Bank, Springfield, MO	5/14/2010	29
New Liberty Bank, Plymouth, MI	5/14/2010	25
Satilla Community Bank, Saint Marys, GA	5/14/2010	31.3
1st Pacific Bank of California, San Diego, CA	5/07/2010	87.7
Towne Bank of Arizona, Mesa, AZ	5/07/2010	41.8
Access Bank, Champlin, MN	5/07/2010	5.5
The Bank of Bonifay, Bonifay, FL	5/07/2010	78.7
Frontier Bank, Everett, WA	4/30/2010	1,370
BC National Banks, Butler, MO	4/30/2010	11.4
Champion Bank, Creve Coeur, MO	4/30/2010	52.7
CF Bancorp, Port Huron, MI	4/30/2010	615.3
Westernbank Puerto Rico, Mayaguez, PR	4/30/2010	3,310
R-G Premier Bank of Puerto Rico, Hato Rey, PR	4/30/2010	1,230
Eurobank, San Juan, PR	4/30/2010	743.9
Wheatland Bank, Naperville, IL	4/23/2010	133
Peotone Bank and Trust Company, Peotone, IL	4/23/2010	31.7
Lincoln Park Savings Bank, Chicago, IL	4/23/2010	48.4
New Century Bank, Chicago, IL	4/23/2010	125.3
Citizens Bank and Trust Company of Chicago, Chicago, IL	4/23/2010	20.9
Broadway Bank, Chicago, IL	4/23/2010	394.3
Amcore Bank, National Association, Rockford, IL	4/23/2010	220.3
City Bank, Lynnwood, WA	4/16/2010	323.4
Tamalpais, San Rafael, CA	4/16/2010	81.1
Innovative Bank, Oakland, CA	4/16/2010	37.8
Butler Bank, Lowell, MA	4/16/2010	22.9
Riverside National Bank of Florida, Fort Pierce, FL	4/16/2010	491.8
American First Bank, Clermont, FL	4/16/2010	10.5
First Federal Bank of North Florida, Palatka, FL	4/16/2010	6
Lakeside Community Bank, Sterling Heights, MI	4/16/2010	11.2
Beach First National Bank, Myrtle Beach, SC	4/09/2010	130.3
Desert Hills Bank, Phoenix, AZ	3/26/2010	106.7
Unity National Bank, Cartersville, GA	3/26/2010	67.2
Key West Bank, Key West, FL	3/26/2010	23.1
McIntosh Commercial Bank, Carrollton, GA	3/26/2010	123.3
State Bank of Aurora, Aurora, MN	3/19/2010	4.2
First Lowndes Bank, Fort Deposit, AL	3/19/2010	38.3
Bank of Hiawassee, Hiawasssee, GA	3/19/2010	137.7
Appalachian Community Bank, Ellijay, GA	3/19/2010	419.3
Advanta Bank Corp, Draper, UT	3/19/2010	635.6
Century Security Bank, Duluth, MN	3/19/2010	29.9
Statewide Bank, Covington, LA	3/12/2010	38.1
Old Southern Bank, Orlando, FL	3/12/2010	94.6
The Park Avenue Bank, New York, NY	3/12/2010	50.7
LibertyPointe Bank, New York, NY	3/11/2010	24.8
Centennial Bank, Ogden, UT	3/5/2010	96.3
Waterfield Bank, Germantown, MD	3/5/2010	51
Bank of Illinois, Normal, IL	3/5/2010	53.7
Sun American Bank, Boca Raton, FL	3/5/2010	103.8
Rainier Pacific Bank, Tacoma, WA	2/26/2010	95.2
Carson River Community Bank, Carson City, NV	2/26/2010	7.9
La Jolla Bank, F.S.B., La Jolla, CA	2/19/2010	882.3
George Washington Savings Bank, Orland Park, IL	2/19/2010	141.4
The La Coste National Bank, La Coste, TX	2/19/2010	3.7
Marco Community Bank, Marco Island, FL	2/19/2010	38.1
First American State Bank of Minnesota, Hancock, MN	2/05/2010	3.1
American Marine Bank, Bainbridge Island, WA	1/29/2010	58.9
First Regional Bank, Los Angles, CA	1/29/2010	825.5
Community Bank and Trust, Cornelia, GA	1/29/2010	354.5
Marshall Bank, N.A., Hallock, MN	1/29/2010	4.1
Florida Community Bank, Immokalee, FL	1/29/2010	352.6
First National Bank of Georgia, Carrollton, GA	1/29/2010	260.4
Columbia River Bank, The Dalles, OR	1/22/2010	172.5
Evergreen Bank, Seattle, WA	1/22/2010	64.2
Charter Bank, Santa Fe, NM	1/22/2010	201.9
Bank of Leeton, Leeton, MO	1/22/2010	8.1
Premier American Bank, Miami, FL	1/22/2010	85
Town Community Bank & Trust, Antioch, IL	1/15/2010	17.8
St. Stephen State Bank, St. Stephen, MN	1/15/2010	7.2
Barnes Banking Company, Kaysville, UT	1/15/2010	271.3
Horizon Bank, Bellingham, WA	1/08/2010	539.1

Euro Drops From Six-Month High on Concern Banks Lack Capital

Oct. 4 (Bloomberg) -- The euro declined from a six-month high against the dollar as concern Europe’s major banks are undercapitalized reduced demand for the region’s assets.

The 16-nation currency weakened versus all of its major counterparts as a Swiss government-appointed panel said UBS AG and Credit Suisse Group AG should almost double the capital required under Basel Committee on Banking Supervision rules announced last month. The Swiss franc appreciated versus the euro as stocks fell, discouraging demand for riskier assets.

“The talk about the need for Basel 3 changing restrictions is highlighting the banking sector weakening and highlighting weakness in Europe particularly,” said Camilla Sutton, a Bank of Nova Scotia currency strategist in Toronto.

The euro slid 0.7 percent to $1.3689 at 8:53 a.m. in New York, from $1.3791 on Oct. 1. It touched $1.3807 earlier today, the highest level since March 17. The euro depreciated 0.6 percent to 114.06 yen, from 114.78 yen. The yen was little changed at 83.30 per dollar, compared with 83.22, after earlier weakening to 83.87.

Switzerland’s biggest banks should hold total capital equal to at least 19 percent of their assets, weighted according to risk, compared with 10.5 percent level the Basel Committee on Banking Supervision announced last month, the Swiss panel said.

In a sign the U.S. housing market is stabilizing, the number of contracts to purchase previously owned homes probably increased in August for a second month.

U.S. Housing

The National Association of Realtors’ index of pending home resales rose 2.8 percent in August after a 5.2 percent gain the prior month, according to the median forecast of 30 economists in a Bloomberg News survey. A separate report may show a transportation equipment-led decline in factory orders.

The Bank of Japan begins a two-day policy meeting today in Tokyo at which policy makers are expected to discuss the need for additional measures to spur growth.

The central bank “might introduce further liquidity into the markets,” analysts at Commerzbank AG headed by Ulrich Leuchtmann in Frankfurt wrote in an e-mailed report today. “Some market participants are also expecting the purchase of further bonds. Whichever way the BOJ is going to go, it’s unlikely to create positive momentum” for the yen, they wrote.

The Bank of Japan is expected to increase its 30-trillion yen ($359 billion) credit program for lenders to encourage bank lending when the meeting ends tomorrow, 14 of 17 economists surveyed by Bloomberg News said. One economist forecasts the bank will cut the overnight loan rate to zero from 0.1 percent and buy more government bonds.

Japan’s Wages

Japan’s wages unexpectedly stagnated in August, failing to rise for the first time in six months, adding to concern the country’s consumers won’t be able to drive growth in place of slowing demand abroad. Monthly wages including overtime and bonuses were unchanged from a year earlier at 274,232 yen ($3,288), the Labor Ministry said today.

The government intervened in the foreign-exchange market for the first time since 2004 on Sept. 15 to protect the export- driven recovery.

--Editors: Dennis Fitzgerald