In 2008, the United States saw one of the worst financial meltdowns of the banking system since the Great Depression. This disaster resulted in the failure and closing of hundreds of banks throughout the entire United States. The Federal Deposit Insurance Corporation (FDIC) keeps a list of failed banks tracing back to October 2001. As of March 2011, the list contains 375 banks that failed in the United States; only 27 failed before the meltdown.
New England comprises Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. This region had only three banks fail: Connecticut Bank of Commerce in Stamford, CT; Butler Bank in Lowell, MA; and First Alliance Bank & Trust Co. in Manchester, NH.
The Mid-Atlantic is made up of the following states: Delaware, Maryland, New Jersey, New York, Pennsylvania and Washington, D.C. This region had 20 banks fail, including Ideal Federal Savings Bank in Baltimore, MD; Citizens Community Bank in Ridgewood, NJ; Liberty Pointe Bank in New York, NY; and Metropolitan Savings Bank in Pittsburgh, PA.
The South is made up of the following states: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia and West Virginia. This region had 133 banks fail, the largest number in the regional United States, including First Lowndes Bank in Fort Deposit, AL; Premier American Bank in Miami, FL; RockBridge Commercial Bank in Atlanta, GA; Cooperative Bank in Wilmington, NC; and Bank of Alamo in Alamo, TN.
The Midwest is made up of the following states: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin. This region had 113 banks fail, the second largest number in the regional United States, including New Century Bank in Chicago, IL; Home Federal Savings Bank in Detroit, MI; Pinehurst Bank in Saint Paul, MN; Douglass National Bank in Kansas City, MO; AmTrust Bank in Cleveland, OH; and Legacy Bank in Milwaukee, WI.
The Southwest is made up of the following states: Arizona, New Mexico, Oklahoma and Texas.
This region had 26 banks fail, including Legacy Bank in Scottsdale, AZ; Community Bank of Arizona in Phoenix, AZ; Charter Bank in Santa Fe, NM; Home National Bank in Blackwell, OK; North Houston Bank in Houston, TX; and Guaranty Bank in Austin, TX.
The West is made up of the following states: Alaska, Colorado, California, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington and Wyoming. This region had 82 banks fail, including Pacific National Bank in San Francisco, CA; United Western Bank in Denver, CO; Bank of Honolulu in Honolulu, HI; Sun West Bank in Las Vegas, NV; Liberty Bank in Eugene, OR; MagnetBank in Salt Lake City, UT; and Evergreen Bank in Seattle, WA.
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- Banks on the Bankruptcy List
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