NEW YORK (
last week included two in Arizona and one each in Pennsylvania, Alabama and Nevada, bringing the total number of banks and savings and loans shut down by regulators this year to 77.
All 102 bank failures since the beginning of 2008 are detailed on
interactive bank failure map:
continues to lead all states with 21 bank or thrift failures during 2008 and 2009, followed by
with 14 failures,
with eight and
with five failures.
State regulators closed
of Montgomery, Ala., a subsidiary of
and appointed the Federal Deposit Insurance Corp. receiver. The agency sold all of Colonial Bank's branches and deposits to
Colonial was the fifth-largest bank to fail in U.S. history.
The Office of Thrift Supervision took over
of Pittsburgh and appointed the FDIC receiver. The FDIC then sold the thrift's deposits and office to
, a unit of
PNC Financial Services
The Office of the Comptroller of the Currency shut down
of Gilbert, Ariz. The FDIC was appointed receiver and sold the failed bank's retail deposits and branches to
of Oklahoma City.
The Arizona Department of Financial Institutions shuttered
Community Bank of Arizona
of Phoenix and appointed the FDIC receiver. The FDIC made another deal with MidFirst Bank, which took over all of Community Bank of Arizona's deposits and branches.
Lastly, state regulators closed
Community Bank of Nevada
in Las Vegas. Since the FDIC was unable to find another institution to buy the failed bank's deposits, the FDIC created the
Deposit Insurance National Bank of Las Vegas
, which will operate for about 30 days, allowing depositors to move their insured deposits to other institutions. The FDIC estimated that there were $4.2 million in uninsured deposits.
Both Community Bank of Arizona and Community Bank of Nevada were subsidiaries of
of Las Vegas.
Community Bank of Nevada was included in
preliminary list of 104
, based on preliminary second-quarter data.
Of the 89 institutions on a previous list published
in late May, 33 have failed.
PNC Financial and BB&T are among a growing list of large bank holding companies that have acquired failed institutions during 2008 and 2009, including
, which acquired Washington Mutual, the largest-ever bank or thrift to fail in the U.S. Others include
Fifth Third Bancorp
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
Written by Philip van Doorn in Jupiter Fla.
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.