07.09.2010
updated to 07.13.2010
90 Bank Failures in 2010
original article written by Net Advisor™
Bank Name |
City |
State |
CERT # |
Closing Date |
2010Fail # |
|---|---|---|---|---|---|
| Home National Bank | Blackwell | OK | 11636 | July 9, 2010 | # 90 |
| USA Bank | Port Chester | NY | 58072 | July 9, 2010 | # 89 |
| Ideal Federal Savings Bank | Baltimore | MD | 32456 | July 9, 2010 | # 88 |
| Bay National Bank | Baltimore | MD | 35462 | July 9, 2010 | # 87 |
All of the above bank assets have been purchased with FDIC financial assistance to other banks with the exception of Ideal Federal Savings Bank (Ideal FSB).
Ideal FSB has been closed and insured deposits are being managed and paid out by Manufacturers and Traders Trust Company (M&T Bank).
Customer deposits are currently insured up to $250,000 until December 31, 2013, when FDIC coverage reverts back to $100,000 unless congress extends this limit. (Source: FDIC)
Keep in mind that there are restrictions and limitations of FDIC insurance coverage. According to the Baltimore Sun where two banks were seized by the FDIC on July 9th, there were $602,000 on deposit at Ideal FSB that are not covered by FDIC insurance.
“If that money ($602,000) was still deposited at Ideal (Federal Savings Bank) on Friday (07-09-2010), it’s possible the account holder will end up losing about a third of that cash once the thrift’s assets are sold and the proceeds disbursed to creditors…”
— Source: Baltimore Sun
Questions regarding FDIC insurance or other bank concerns can be addressed to the FDIC Call Center (Toll Free USA): 1-800-350-2746
See the other bank failures and history on our Bank Failure Tracker
(Chart Data Source: FDIC)
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