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

Saturday, February 12, 2011

FDIC closes 18th bank of 2011 and $1.45 Billion hit to DIF

February 12, 2011

The FDIC closed 4 more banks on Friday, February 11th bringing the Year to Date closings to 18. The estimated total hit to the Deposit Insurance Fund (DIF) from Friday's closings is $144.9 million.

Year to date, the estimated hit to the DIF is $1.45 billion with the single largest hit from the closing of United Western Bank in Denver, CO ($312.8 million). The state of GA is on top of the leader board with 4 closed banks and a $226.7 million hit to DIF.

CO, FL and WI are tied for second place with two bank closings each, however Colorado's total hit to DIF is $555.4 million (38% of the total DIF hit).

FDIC is running slightly ahead of last year's closings as they shut down 16 banks as of February 5, 2010.

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