MACON, Ga. (TheStreet) -- Six Georgia bank subsidiaries of
Security Bank Corp.
( SBKC) were among seven
last week, raising the state's tally of failed institutions to 22 in the past two years.
All 89 bank failures since the beginning of 2008 are detailed on
interactive bank failure map:
Georgia leads all states with 22 bank or thrift failures during 2008 and 2009, followed by California and Illinois with 13 each, and then Florida with five and Nevada with four.
Four of the failed banks were included in
recent list of 89
. Twenty-two of the undercapitalized institutions listed on May 28 have failed so far.
Georgia state regulators on Friday closed
Security Bank of Jones County
Security Bank of Bibb County
Security Bank of Houston County
Security Bank of Gwinnett County
Security Bank of North Metro
of Woodstock and
Security Bank of North Fulton
of Alpharetta, all subsidiaries of Macon's Security Bank Corp. The Federal Deposit Insurance Corp., which was appointed receiver, managed to sell the deposits and the 20 branches for all six failed banks to
State Bank and Trust Co.
of Pinehurst, Ga.
New York had its first bank failure of the current crisis, with state regulators taking over
Waterford Village Bank
of Clarence. The FDIC was appointed receiver and sold the failed bank's office and all of its branches to
Evans Bank NA
of Angola, N.Y., a subsidiary of
, which acquired
, the largest bank or thrift ever to fail in the U.S., is among the large bank holding companies that have acquired failed institutions during 2008 and 2009. Others include
Fifth Third Bancorp
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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.