FDIC Friday - US Bank Failures Already More Than All of 2008
Logo of the United States Federal Deposit Insurance Corporation, which incorporates the seal. (Photo credit: Wikipedia)
I just read the latest FDIC press release regarding bank failures. They usually come out every Friday. If you still think everything is okay in the US, take a look at the table below. At 32 so far this year, there are more bank failures in the US than in all of 2008 (25) and we are only half way through the year!
Year Bank Closures 2000 2 2001 4 2002 11 2003 3 2004 4 2007 3 2008 25 2009 140 2010 157 2011 92 2012 32 Grand Total 473
If you are worried about your bank, Weiss Ratings offers free ratings on banks. You can also sign up for free monitoring so you get an email when the rating changes. Depositaccounts.com also has a free bank health rating that is pretty good. The FDIC doesn't publish the list of troubled banks, so you won't know about it until it fails!
Related articles
Another Record!... Bank Failures Skyrocket During Obama's Watch
Failures familiar for banking committee leaders
Facts and numbers on US bank failures since 2008