Third Consecutive Week with No Failures

As of 6:15 pm EST there have been no failures. The Bank Blog will be updated throughout the evening as new information arrives.

No New Failures

As of 5:45 pm EST there have been no failures. The Bank Blog will be updated throughout the evening as new information arrives.

No New Failures

As of 6:20 pm EST there have been no failures. The Bank Blog will be updated throughout the evening as new information arrives.

Another Top 40 Failure

Thirtieth-ranked 1^st Regents Bank of Andover, Minnesota was closed today by the Minnesota Department of Commerce. The approximately $50.2 million in total assets of the former bank were acquired by First Minnesota Bank (5478th) of Minnetonka, Minnesota. In addition, First Minnesota bank assumed the $49.1 million in total deposits of the former 1^st Regents Bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.5 million.

Number Four Bank Fails

After  a month-long vacation, the protectors of the safety and soundness of commercial banking were back at work closing the fourth-ranked Westside Community Bank of University Place, Washington. To protect the depositors, Sunwest Bank (4735th) of Irvine, California, agreed to assume all of the approximately $96.5 million in total deposits. In addition, they agreed to acquire the approximately  $97.7 million in total assets of the former Westside Community Bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.3 million.

No New Failures

As of 7:40 pm EST there have been no failures. The Bank Blog will be updated throughout the evening as new information arrives.

No New Failures

As of 6:05 pm EST there have been no failures. The Bank Blog will be updated throughout the evening as new information arrives.