One More FDIC Bank Closing
On January 8, the FDIC reported that it has taken over an additional bank (Horizon Bank) for a cost to the FDIC of about $540 billion. This brings the total number of failed banks since the beggning of 2008 to 167.
Total deposits of all failed banks now equal $1.1 billion for 2010 and $372 billion since the beginning of 2008, all at an estimated cost to the FDIC of about $59 billion. Visit Stimulus.org for more details and a full list of FDIC bank closings.
[chart:1079]
| Total Deposits | Cost to the FDIC | |
| Horizon Bank | $1,100,000,000 | $539,100,000 |