51 U.S. Bank Failures in 2012

01.11.2013

51 U.S. Bank Failures in 2012

original article written by Net Advisor™

WASHINGTON DC. Still not well reported are the on-going bank failure and subsequent bailouts (special financing and loan loss sharing programs from the U.S. government to finance failed banks).

During 2012 there were a total of 51 bank failures. The number had declined from 92 bank failures in 2011, 157 bank failures in 2010, and less than the 115 bank failures in 2009.

The following chart depicts all failed banks from January 1, 2012 to December 31, 2012:

Bank Name	City	State	FDIC CERT #	Closing Date	Fail #
Community Bank of the Ozarks	Sunrise Beach	MO	27331	12/14/12	#51
Hometown Community Bank	Braselton	GA	57928	11/16/12	#50
Citizens First National Bank	Princeton	IL	3731	11/02/12	#49
Heritage Bank of Florida	Lutz	FL	35009	11/02/12	#48
NOVA Bank	Berwyn	PA	27148	10/26/12	#47
Excel Bank	Sedalia	MO	19189	10/19/12	#46
First East Side Savings Bank	Tamarac	FL	28144	10/19/12	#45
GulfSouth Private Bank	Destin	FL	58073	10/19/12	#44
First United Bank	Crete	IL	20685	09/28/12	#43
Truman Bank	St. Louis	MO	27316	09/14/12	#42
First Commercial Bank	Bloomington	MN	35246	09/07/12	#41
Waukegan Savings Bank	Waukegan	IL	28243	08/03/12	#40
Jasper Banking Company	Jasper	GA	16240	07/27/12	#39
Second Federal Savings and Loan Association of Chicago	Chicago	IL	27986	07/20/12	#38
Heartland Bank	Leawood	KS	1361	07/20/12	#37
First Cherokee State Bank	Woodstock	GA	32711	07/20/12	#36
Georgia Trust Bank	Buford	GA	57847	07/20/12	#35
The Royal Palm Bank of Florida	Naples	FL	57096	07/20/12	#34
Glasgow Savings Bank	Glasgow	MO	1056	07/13/12	#33
Montgomery Bank & Trust	Ailey	GA	19498	07/06/12	#32
The Farmers Bank of Lynchburg	Lynchburg	TN	1690	06/15/12	#31
Security Exchange Bank	Marietta	GA	35299	06/15/12	#30
Putnam State Bank	Palatka	FL	27405	06/15/12	#29
Waccamaw Bank	Whiteville	NC	34515	06/08/12	#28
Farmers’ and Traders’ State Bank	Shabbona	IL	9257	06/08/12	#27
Carolina Federal Savings Bank	Charleston	SC	35372	06/08/12	#26
First Capital Bank	Kingfisher	OK	416	06/08/12	#25
Alabama Trust Bank, National Association	Sylacauga	AL	35224	05/18/12	#24
Security Bank, National Association	North Lauderdale	FL	23156	05/04/12	#23
Palm Desert National Bank	Palm Desert	CA	23632	04/27/12	#22
Plantation Federal Bank	Pawleys Island	SC	32503	04/27/12	#21
Inter Savings Bank, fsb D/B/A InterBank, fsb	Maple Grove	MN	31495	04/27/12	#20
HarVest Bank of Maryland	Gaithersburg	MD	57766	04/27/12	#19
Bank of the Eastern Shore	Cambridge	MD	26759	04/27/12	#18
Fort Lee Federal Savings Bank, FSB	Fort Lee	NJ	35527	04/20/12	#17
Fidelity Bank	Dearborn	MI	33883	03/30/12	#16
Premier Bank	Wilmette	IL	35419	03/23/12	#15
Covenant Bank & Trust	Rock Spring	GA	58068	03/23/12	#14
New City Bank	Chicago	IL	57597	03/09/12	#13
Global Commerce Bank	Doraville	GA	34046	03/02/12	#12
Home Savings of America	Little Falls	MN	29178	02/24/12	#11
Central Bank of Georgia	Ellaville	GA	5687	02/24/12	#10
SCB Bank	Shelbyville	IN	29761	02/10/12	#9
Charter National Bank and Trust	Hoffman Estates	IL	23187	02/10/12	#8
BankEast	Knoxville	TN	19869	01/27/12	#7
Patriot Bank Minnesota	Forest Lake	MN	34823	01/27/12	#6
Tennessee Commerce Bank	Franklin	TN	35296	01/27/12	#5
First Guaranty Bank and Trust Company of Jacksonville	Jacksonville	FL	16579	01/27/12	#4
American Eagle Savings Bank	Boothwyn	PA	31581	01/20/12	#3
The First State Bank	Stockbridge	GA	19252	01/20/12	#2
Central Florida State Bank	Belleview	FL	57186	01/20/12	#1

There were four banks in 2012 where no one wanted to buy the bank even with government help. Those banks are:

The remaining banks were sold to other existing banks.

The cost to the FDIC Insurance Fund (DIF) for 2012 is estimated at $2.5 Billion (PDF). The FDIC is still insuring depositor’s losses in terms of principal and interest on insured accounts up to the insurance limit of $250,000. The FDIC has a calculator and website to help determine exactly what is and what is not covered.

Our bank failure tracker archive is located here.

Credits: Image owner unknown. Bank data source: FDIC

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