"Our Children and Grandchildren are not merely statistics towards which we can be indifferent" JFK

Saturday, December 18, 2010

FDIC Friday Final Bank Closing Count: 6 banks and 157 YTD

The FDIC closed 6 banks on Friday, December 17th. Year to date, the FDIC has closed 157 banks. FDIC estimates a $267.6 million hit to the Deposit Insurance Fund (DIF) from Friday's six closings.

GA accounted for 3 of the 6 closings and brings their YTD closings to 21. In 2009, the FDIC shut down 25 banks in GA. FL had one closing Friday bringing their YTD total to 29 versus 14 closings in 2009. MN and AR each had one closing on Friday.

Given the Christmas Eve holiday next Friday, the FDIC staff will not likely be shutting any banks and given the New Year's Eve holiday the following Friday, this could prove to be the final bank closing count for 2010. January 7, 2011 could be a busy day for the FDIC staff given a two week pent up demand for bank closings...we shall see.

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