New bank failures

for the week of Feb. 23 include Silver Falls Bank of Silverton, Ore., the 14th institution to fail this year.

All 39 bank failures since the beginning of 2008 are detailed on

TheStreet.com's

new interactive bank failure map:

Not surprisingly, states at the center of the residential housing boom have produced the greatest number of failing institutions. Out of 39 bank and thrift failures since the beginning of 2008, eight were in California, six in Georgia and four in Florida.

Silver Falls Bank was identified as "significantly undercapitalized" in

TheStreet.com's

analysis of

undercapitalized banks and thrifts

. Forty banks and eight thrifts were undercapitalized, by

regulatory standards

, based on preliminary data from Highline Financial.

The Federal Deposit Insurance Corp.'s estimated cumulative losses to its deposit insurance fund from bank and thrift failures during 2008 was $15.6 billion, which included $8.9 billion from the failure of

IndyMac Bank

in July. While a year-end figure was not yet available, the FDIC's deposit insurance fund totaled $34.6 billion as of Sept. 30.

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

Banks & Thrifts Screener

. In addition, the Financial Strength Ratings for 4,000 life, health, annuity, and property/casualty insurers are available on the Insurers & HMOs Screener.

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.