FAQs
Which banks failed in 2009? ›
2009 Summary by Month
| Bank Name | Press Release | Closing Date |
|---|---|---|
| December Back to Top | ||
| RockBridge Commercial Bank, Atlanta, GA | PR-233-2009 | December 18, 2009 |
| SolutionsBank, Overland Park, KS | PR-227-2009 | December 11, 2009 |
| Valley Capital Bank, National Association, Mesa, AZ | PR-226-2009 | December 11, 2009 |
2008 in Brief
There were 25 bank failures in 2008. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
About the FDIC:
| Bank NameBank | CityCity | Closing DateClosing |
|---|---|---|
| First National Bank of Crestview | Crestview | January 16, 2015 |
| Northern Star Bank | Mankato | December 19, 2014 |
| Frontier Bank, FSB D/B/A El Paseo Bank | Palm Desert | November 7, 2014 |
| The National Republic Bank of Chicago | Chicago | October 24, 2014 |
Bank failures since 2009
The receivership of Washington Mutual Bank by federal regulators on September 26, 2008, was the largest bank failure in U.S. history. Regulators simultaneously brokered the sale of most of the banks's assets to JPMorgan Chase, which planned to write down the value of Washington Mutual's loans at least $31 billion.
How many US banks fail each year? ›In the wake of the Great Recession, it was typical to see dozens—if not hundreds—of bank failures each year. This slowed significantly from 2015 to 2020, when the U.S. saw an average of fewer than five bank failures per year. Zero banks failed in both 2021 and 2022.
What is the largest bank failure in US history? ›List of largest bank failures in the United States
| Bank | City | Assets at time of failure |
|---|---|---|
| Inflation-adjusted (2023) | ||
| Washington Mutual | Seattle | $434 billion |
| First Republic Bank | San Francisco | $229 billion |
| Silicon Valley Bank | Santa Clara | $209 billion |
Companies Considered Too Big to Fail
Bank of America Corp. The Bank of New York Mellon Corp. Citigroup Inc. The Goldman Sachs Group Inc.
Summary: Safest Banks In The U.S. Of April 2024
| Bank | Forbes Advisor Rating | Learn More |
|---|---|---|
| Chase Bank | 5.0 | Learn More Read Our Full Review |
| Bank of America | 4.2 | |
| Wells Fargo Bank | 4.0 | Learn More Read Our Full Review |
| Citi® | 4.0 |
Jan 29, 2024
There were 157 bank failures in 2010. See detailed descriptions below.
Are credit unions safer than banks? ›
Generally, credit unions are viewed as safer than banks, although deposits at both types of financial institutions are usually insured at the same dollar amounts. The FDIC insures deposits at most banks, and the NCUA insures deposits at most credit unions.
What is the oldest bank still active? ›The oldest bank still in existence is Banca Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472.
Which US bank has gone under? ›First Bank Failure of 2024 Near Anniversary of SVB, Signature, and First Republic Failures. The seizure and subsequent sale of Republic Bank comes a little more than a year after a series of bank failures that rocked the industry in 2023, as Silicon Valley Bank and Signature Bank shut down in March 2023.
Who is the number one bank in America? ›J.P. Morgan Chase is the number one bank in America in terms of total assets held, according to the Federal Reserve.
Which banks caused the 2008 financial crisis? ›6 Some of the largest banks to fail were investment banks, including Lehman Brothers and Bear Stearns. JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Bank of America were all bailed out by the federal government and did not fail.
What banks collapsed during the global financial crisis of 2008 and 2009? ›Lehman Brothers went bankrupt. Merrill Lynch, AIG, Freddie Mac, Fannie Mae, HBOS, Royal Bank of Scotland, Bradford & Bingley, Fortis, Hypo and Alliance & Leicester all came within a whisker of doing so and had to be rescued.
Why were banks in trouble in 2008 09? ›Before the crisis, banks were issuing mortgages to subprime borrowers. As fears of these risky loans spread, credit markets froze and several banks failed, requiring government bailouts. Ensuring regulators have sufficient protection from political pressure would help to avoid such crises in future.
What bank was the largest bank to fail? ›What are the top 3 biggest U.S. bank failures in history?
- Washington Mutual (WaMu), Henderson, NV ($309 Billion Assets) ...
- First Republic Bank, San Francisco, CA ($229 Billion Assets) ...
- Silicon Valley Bank, Santa Clara, CA ($209 Billion Assets)