FDIC Failure Friday Update

On 1/29/10, the FDIC closed 6 more banks bringing the 2010 total to 15 banks. The closures Friday will cost the FDIC $1.86 billion.

Of the 15 banks shuttered in 2010, three are in the state of WA and GA and MN are tied at 2 apiece.

Given the current run rate of 15 banks per month, the FDIC is on track to exceed the 140 closures in 2009.

Just another Freaky Friday for Sheila Bair and the FDIC