Three More FDIC Bank Closings
On Friday evening, the FDIC reported that it has taken over an additional three banks (Pacific Coast National Bank, Orion Bank, Century Bank) for a cost to the FDIC of around $1 billion. This brings the total number of failed banks in 2009 to 123. Total deposits of all failed banks now equal $115 billion for 2009 and over $349 billion since the beginning of 2008, all at an estimated cost to the FDIC of just under $54 billion.
Visit Stimulus.org for more details and a full list of FDIC bank closings.
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| Total Deposits | Cost to the FDIC | |
| Pacific Coast National Bank | $130,900,000 | $27,400,000 |
| Orion Bank | $2,100,000,000 | $615,000,000 |
| Century Bank | $631,000,000 | $344,000,000 |