Three More FDIC Closings
On Friday evening, the FDIC reported that it has taken over an additional three banks (Solutions Bank, Valley Capital Bank, Republic Federal Bank) for a cost to the FDIC of about $252 million. This brings the total number of failed banks in 2009 to 133. Total deposits of all failed banks now equal $125.7 billion for 2009 and almost $360 billion since the beginning of 2008, all at an estimated cost to the FDIC of about $56.4 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 | |
| Solutions Bank | $421,300,000 | $122,100,000 |
| Valley Capital Bank | $41,300,000 | $7,400,000 |
| Republic Federal Bank | 352,700,000 | $122,600,000 |
| Total | $815,300,000 | $252,100,000 |