New Bank Failures: Week of Sept. 28

Stock quotes in this article: JPM , STI , RF , FITB , USB , PNC , ZION  

NEW YORK (TheStreet) -- The failure of Georgian Bank last week brought the total number of banks and savings and loans shut down by regulators this year to 95.

All 120 bank failures since the beginning of 2008 are detailed on TheStreet's interactive bank failure map:

Georgia continues to lead all states with 24 bank or thrift failures during 2008 and 2009, followed by Illinois with 14 failures, California with 13, Florida with eight and Nevada with five failures.

Friday also marked the one-year anniversary of the failure of Washington Mutual, which was sold by the Federal Deposit Insurance Corp. to JPMorgan Chase (JPM Quote).

A year after the largest-ever U.S. bank or thrift failure, Washington Mutual's former holding company is trying to recover some of the assets acquired by JPMorgan.

Other large holding companies acquiring failed institutions during 2008 and 2009 include SunTrust Banks (STI Quote); Regions Financial (RF Quote); Fifth Third Bancorp (FITB Quote); US Bancorp (USB Quote); Zions Bancorp (ZION Quote); and PNC Financial (PNC Quote); and BB&T (BBT Quote).

Free Financial Strength Ratings

TheStreet.com Ratings issues independent and very conservative financial strength ratings on each of the nation's 8,500 banks and savings and loans. They are available at no charge on the Banks & Thrifts Screener.

-- Reported by Philip van Doorn in Jupiter Fla.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin
Philip W. van Doorn joined TheStreet.com Ratings., Inc., in February 2007. He is the senior analyst responsible for assigning financial strength ratings to banks and savings and loan institutions. He also comments on industry and regulatory trends. Mr. van Doorn has fifteen years experience, having served as a loan operations officer at Riverside National Bank in Fort Pierce, Florida, and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a Bachelor of Science in business administration from Long Island University.

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,464.40 1,110.63 2,176.05 32.79
Oil *
77.05
UP
30.69
UP
4.98
UP
6.87
DOWN
0.38
10 Yr
3.28%
SPDR Gold
116.62
+0.29%
+0.45%
+0.32%
-1.15%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services