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Regulators Shut Down Five Banks

Four of the failed institutions were included in TheStreet.com's list of 116 undercapitalized banks and thrifts, which was based on second-quarter data.

Of the 89 institutions on a previous list published by TheStreet.com in late May, 39 have failed.

All previous bank failures since the beginning of 2008 are detailed on TheStreet.com's interactive Bank Failure Map.

Georgia continues to lead all states with 23 bank or thrift failures during 2008 and 2009, followed by Illinois with 16, California with 14, Florida with eight and Nevada with five.

Large bank holding companies that have acquired failed institutions during 2008 and 2009 include J.P. Morgan Chase (JPM - Get Report), which acquired Washington Mutual, the largest-ever bank or thrift to fail in the U.S.; SunTrust Banks (STI - Get Report); Regions Financial (RF - Get Report); Fifth Third Bancorp (FITB); U.S. Bancorp (USB); Zions Bancorp (ZION); PNC Financial (PNC); and BB&T Corp (BBT).

First Bank of Kansas City

TheStreet.com Ratings had assigned First Bank of Kansas City an E-minus (Very Weak) financial strength rating back in December, which was a downgrade from an E the previous quarter.

The small commercial lender rapidly deteriorated during the first half of 2009. Nonperforming assets, including loans past due 90 days or more or in nonaccrual status, made up 17.68% of total assets as of June 30. A second-quarter loss of $1.3 million left First Bank critically undercapitalized as of June 30, with a Tier 1 leverage ratio of 1.81% and a total risk-based capital ratio of 3.73%. These ratios need to be at least 5% and 10%, respectively, for most banks and thrifts to be considered well capitalized under regulatory capital guidelines. They need to be 4% and 8%, respectively, for most institutions to be considered adequately capitalized.

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