Bank Name | City | State | CERT # | Closing Date | Updated Date |
|---|---|---|---|---|---|
| Barnes Banking Company | Kaysville | UT | 1252 | January 15, 2010 | January 15, 2010 |
| St. Stephen State Bank | St. Stephen | MN | 17522 | January 15, 2010 | January 15, 2010 |
| Town Community Bank & Trust | Antioch | IL | 34705 | January 15, 2010 | January 15, 2010 |
The FDIC closed three (3) banks on January 15, 2010 -- Town Community Bank & Trust in Antioch, Illinois; St. Stephen State Bank in St. Stephen, Minnesota; and Barnes Banking Company in Kaysville, Utah.
Town Community Bank & Trust will cost $17.8 million against the FDIC insurance fund. St. Stephen State Bank will cost $7.2 million against the FDIC insurance fund. Barnes Banking Company will cost $271.3 million against the FDIC insurance fund.
The total amount charged against the FDIC insurance fund today is $296,300,000 (or $296.3 million). At this point, 4 banks have closed this year.
1 comment:
Some economists are saying that according to banking rules, many, many more banks should have been closed a long time ago, but FDIC hasn't stepped in because it is on the edge of insolvency itself. Once FDIC is broke (if it isn't already), you could expect panic, bank runs and a depression.
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