This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Four U.S. Banks Fail Friday

State and federal regulators on Friday shut down four more banks, bringing to 57 the number of U.S. banks and savings and loan associations that have failed during 2009.

All but one of the failed banks were included in's recent list of 89 undercapitalized banks and thrifts. So far, 18 of the undercapitalized institutions listed on May 28 have failed.

All four of the failed institutions were overwhelmed by nonperforming construction and commercial real estate loans, following the pattern of the majority of this year's bank failures.

The Georgia Department of Banking and Finance shut down First Piedmont Bank of Winder, Ga. and appointed the Federal Deposit Insurance Corp. receiver. The FDIC sold all the failed institution's deposits and branches to First American Bank and Trust of Athens, Ga.

South Dakota regulators closed BankFirst of Sioux Falls, S.D. The FDIC was appointed receiver and sold all of BankFirst's deposits and branches to Alerus Financial of Grand Forks, N.D.

The Office of the Comptroller of the Currency took over Vineyard Bank of Rancho Cucamonga, Calif. and appointed the FDIC receiver. The FDIC then sold all of the failed bank's retail deposits and branches to California Bank & Trust of San Diego, which is a subsidiary of Zions Bancorporation (ZION - Get Report).

Lastly, California regulators shuttered Temecula Valley Bank of Temecula, Calif., which was held by Temecula Valley Bancorp (TMCV). The FDIC was appointed receiver and sold the failed bank's retail deposits to First-Citizens Bank and Trust of Raleigh, N.C. First-Citizens is a subsidiary of First Citizens Bancshares (FCNCA - Get Report).

All previous bank failures since the beginning of 2008 are detailed on's interactive bank failure map:

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
TMCV $0.00 0.00%
ZION $21.63 0.00%
FCNCA $233.64 0.00%
FITB $15.33 0.00%
JPM $57.75 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs