FDIC closes 4 banks on Friday and the 72nd bank of the year

The FDIC closed 4 banks on 5/14/10 as IL, MO, MI and GA each received a visit from the FDIC. According to the FDIC, the collective hit to the insurance fund this week is a mere $301.7 million. This is the second week in which Sheila Bair and company closed 4 banks and brings the year to date bank closing total to 72.

Illinois remains in contention for the gold medal with 11 bank closing year to date while Florida currently holds the silver medal with 10 closings and GA with 8 bank closings grips the bronze.

Last year, the FDIC closed 140 banks and could easily top that figure in 2010. From January 1, 2009 through May 21, 2009 the FDIC shuttered 33 banks versus 72 for a similar period in 2010. The FDIC celebrated Independence Day 2009 by closing 24 banks in just the month of July.