NEW YORK (
New bank failures
last week included two in
Georgia and one each in Texas and Alabama, bringing the total number of banks and savings and loans shut down by regulators this year to 81.
All 106 bank failures since the beginning of 2008 are detailed on TheStreet.com's interactive bank failure map:
continues to lead all states with 23 bank or thrift failures during 2008 and 2009, followed by
with 14 failures,
with eight and
with five failures.
The Office of Thrift Supervision took over
of Atlanta and appointed the FDIC as receiver. The FDIC then sold the thrift's deposits and sole office to
Stearns Bank NA
Georgia regulators shut down
First Coweta Bank
of Newnan. The FDIC was appointed receiver and sold the failed bank's retail deposits and branches to
of Zebulon, Ga.
The Alabama State Banking Department closed
of Birmingham and appointed the FDIC receiver. The FDIC sold all of CapitalSouth's retail deposits and branches to
of Lafayette, La. Iberiabank is the main subsidiary of
The Office of Thrift Supervision closed Guaranty Bank of Austin, Texas, the main subsidiary of
Guaranty Financial Group
. In a deal that was leaked Thursday, the FDIC sold all retail deposits and branches of
of Birmingham, Ala., the main U.S. subsidiary of
Banco Bilbao Vizcaya Argentaria SA
Guaranty Bank had $13 billion in total assets when it failed, and it was a particularly expensive failure, with the FDIC estimating that the cost to its insurance fund from the thrift's failure would be $3 billion. In comparison,
, which failed the previous week, had $25 billion in total assets and the cost of its failure to the FDIC was $2.8 billion.
First Coweta and CapitalSouth were included in
preliminary list of 104
, based on preliminary second-quarter data. Guaranty Bank and ebank were not included in the preliminary second-quarter list, since data for most thrifts was unavailable when the report was published on Aug. 6.
Of the 89 institutions on a previous list published
in late May, 35 have failed.
Large bank holding companies that have acquired failed institutions during 2008 and 2009 include
, which acquired Washington Mutual, the largest-ever bank or thrift to fail in the U.S.;
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
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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.