One More FDIC Bank Closing
Nov 23, 2009
On Friday evening, the FDIC reported that it has taken over an additional bank (Commerce Bank of Southwest Florida) for a cost to the FDIC of around $24 million. This brings the total number of failed banks in 2009 to 124. Total deposits of all failed banks now equal $115.5 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.
[chart:1079]
| Total Deposits | Cost to the FDIC | |
| Commerce Bank of Southwest Florida | $76,700,000 | $23,600,000 |