Community Banks of Colorado

The largest institution to fail on Friday was Community Banks of Colorado, of Greenwood, which had total assets of $1.38 billion and $1.33 billion in deposits when it was seized by the Board of Governors of the Federal Reserve System.

The FDIC was appointed receiver and sold the failed institution to Bank Midwest, NA, of Kansas City, Mo.

The 40 branches of Community Banks of Colorado were scheduled to reopen during normal business hours as branches of Bank Midwest, NA.

The FDIC agreed to cover 80% of losses on $714.2 million in assets acquired by Bank Midwest, NA, and estimated the cost of Community Banks of Colorado's failure to the deposit insurance fund would be $224.9 million.

Thorough Bank Failure Coverage

Georgia leads all states with 22 bank failures this year, followed by Florida, with 12 failures, and Illinois, with eight bank closures.

All 404 bank and thrift closures since the beginning of 2008 are detailed in TheStreet's interactive bank failure map:

The bank failure map is color-coded, with the states having the greatest number of failures highlighted in dark gray, and states with no failures in light green. By moving your mouse over a state you can see its combined 2008-2011 totals. Then click the state to open a detailed map pinpointing the locations and providing additional information for each bank failure.


-- Written by Philip van Doorn in Jupiter, Fla.

To contact the writer, click here: Philip van Doorn.

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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., 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.

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