One More FDIC Bank Closing
On Friday evening, the FDIC reported that it has taken over an additional bank (San Joaquin Bank) for a cost to the FDIC of around $103 million. This brings the total number of failed banks since the beginning of 2008 to 115. Total deposits of all failed banks now equal $88.3 billion for 2009 and over $322 billion since the beginning of 2008, all at an estimated cost to the FDIC of over $48 billion. Visit Stimulus.org for more details and a full list of FDIC bank closings.
[chart:1079]
| Total Deposits | Cost to the FDIC | |
| San Joaquin Bank | $631,000,000 | $103,000,000 |