FAQs
What 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 Summary by Month
| Bank Name | Press Release | Closing Date |
|---|---|---|
| December Back to Top | ||
| Washington Mutual Bank, Henderson, NV and Washington Mutual Bank, FSB, Park City, UT | PR-085-2008 | September 25, 2008 |
| Ameribank, Inc., Northfork, WV | PR-082-2008 | September 19, 2008 |
| Silver State Bank, Henderson, NV | PR-077-2008 | September 5, 2008 |
Bank Failures in Brief – Summary
There were 566 bank failures from 2001 through 2024. See Summary by Year below.
The collapses of Silicon Valley Bank and Signature Bank in March 2023—then the second- and third-largest bank failures in U.S. history—took consumers by surprise. Subsequently, three more banks failed in 2023: First Republic Bank in May, Heartland Tri-State Bank in July and Citizens Bank of Sac City in November.
What was the largest bank that failed in 2008? ›SVB's collapse marked the second largest bank failure in U.S. history after Washington Mutual's in 2008.
Which 4 banks are in trouble? ›About the FDIC:
| Bank NameBank | CityCity | Closing DateClosing |
|---|---|---|
| Heartland Tri-State Bank | Elkhart | July 28, 2023 |
| First Republic Bank | San Francisco | May 1, 2023 |
| Signature Bank | New York | March 12, 2023 |
| Silicon Valley Bank | Santa Clara | March 10, 2023 |
The largest bank failure ever occurred when Washington Mutual Bank went under in 2008. At the time, it had about $307 billion in assets. During the uncertainty of the banking crisis, however, Washington Mutual experienced a bank run where customers withdrew almost $17 billion in assets in less than 10 days.
Which banks no longer exist? ›2023 list of failed banks
| Failed banks | Date closed |
|---|---|
| Citizens Bank, Sac City, Iowa | 11/03/2023 |
| Heartland Tri-State Bank, Elkhart, Kansas | 07/28/2023 |
| First Republic Bank, San Francisco | 05/01/2023 |
| Signature Bank, New York | 03/12/2023 |
Apr 1, 2024
The unexpected collapses of three banks - Silicon Valley and Signature in March 2023 and First Republic in May - put a spotlight on how lenders managed risks to assets and liquidity as the Federal Reserve raised interest rates aggressively to bring surging inflation under control.
What banks are failing in 2024? ›2024 in Brief
There are no bank failures in 2024. 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.
Which bank is the safest? ›
JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.
What banks are most at risk? ›These Banks Are the Most Vulnerable
- First Republic Bank (FRC) . Above average liquidity risk and high capital risk.
- Huntington Bancshares (HBAN) . Above average capital risk.
- KeyCorp (KEY) . Above average capital risk.
- Comerica (CMA) . ...
- Truist Financial (TFC) . ...
- Cullen/Frost Bankers (CFR) . ...
- Zions Bancorporation (ZION) .
Mar 16, 2023
Recently, a report posted on the Social Science Research Network found that 186 banks in the United States are at risk of failure or collapse due to rising interest rates and a high proportion of uninsured deposits.
What is the biggest bank failure? ›Washington Mutual Seattle
US eases restrictions on Wells Fargo after years of strict oversight following scandal. NEW YORK (AP) — The Biden administration eased some of the restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals.
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 is the biggest bank failure ever? ›Washington Mutual Bank remains the largest bank failure and by a fairly wide margin. The institution faltered during the 2008 financial crisis as the housing market and the secondary market for mortgage-backed securities crashed.
What happened to the banks that failed in 2008? ›Key Takeaways. The financial crisis started with Bear Stearns and Lehman brothers. The U.S. government did not bailout Lehman and the institution filed for bankruptcy and eventually closed. Bear Stearns was picked up by JP Morgan and no longer exists.