In America there are many banks who failed in 2009 because of recession problem. America faced a huge financial crisis last year.
Recession problem
American banks failed because of recession problem. Recession is a condition in which economy goes down and many large companies dissolved. America faced recession problem in 2009.
FDIC insured banks
FDIC is a government department and it is dealing with the failure of American banks. Those banks that are registered with FDIC are secure because this department provides extra funds for their stability.
List of banks failed in 2009
Following are the failed banks in 2009;
- First Federal Bank of California, Santa Monica, CA on 18, December, 2009 with an estimated cost to DIF ($millions) 146.3
- Imperial Capital Bank, La Jolla, CA on 18, December, 2009 with an estimated cost to DIF ($millions)619.2
- Independent Bankers’ Bank, Springfield, IL on 18, December,2009 with an estimated cost to DIF ($millions)68.4
- New South Federal Savings Bank, Irondale, AL on 18, December, 2009 with an estimated cost to DIF ($millions)212.3
- Citizens State Bank, New Baltimore, MI on 18, December, 2009 with an estimated cost to DIF ($millions)76.6
- Peoples First Community Bank, Panama City, FL on 18, December, 2009 with an estimated cost to DIF ($millions)556.7
- RockBridge Commercial Bank, Atlanta, GA on 18, December, 2009 with an estimated cost to DIF ($millions)124.2
- The Buckhead Community Bank, Atlanta, GA on 04, December, 2009 with an estimated cost to DIF ($millions)241.4
- First Security National Bank, Norcross, GA on 04, December, 2009 with an estimated cost to DIF ($millions)30.1
- The Tattnall Bank, Reidsville, GA on 04, December, 2009 with an estimated cost to DIF ($millions)13.9 Read the full story
