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Failed Banks: Class Of 2013

By Aarti Kanjani and Harish Mali and Robert Clark

 

Special Report by SNL Financial

The regulators did not close any banks Aug. 16, keeping the year's total number of failures at 18. In 2012, regulators had closed 40 banks through Aug. 16.

As of Aug. 16, only two of the 18 bank failures thus far in 2013 have been involved in a loss-share agreement. In 2012, the FDIC entered loss-share agreements with the buyers of 20 of the 51 closed banks. In 2011, the FDIC entered loss-share agreements with the buyers of 58 of the 92 closed banks.

The median cost to the deposit insurance fund at the time of announcement as a percentage of the failed banks' assets was 27% in 2013, 21% in 2012 and 23% in 2011.

Wausau, Wis.-based Bank of Wausau ($43.6 million)
http://leasingnews.org/archives/Aug2013/8_13.htm#bank_beat

Fort Myers, Fla.-based First Community Bank of Southwest Florida ($247.3 million)
http://leasingnews.org/archives/Aug2013/8_06.htm#bank_beat

Sevierville, Tenn.-based Mountain National Bank ($437.3 million)
North Las Vegas, Nev.-based 1st Commerce Bank ($20.2 million)
http://leasingnews.org/archives/Jun2013/6_11.htm#bank_beat

Kenosha, Wis.-based Bank of Wisconsin ($134.0 million)
http://leasingnews.org/archives/Jun2013/6_03.htm#bank_beat

Scottsdale, Ariz.-based Central Arizona Bank ($31.6 million)
http://leasingnews.org/archives/May2013/5_15.htm#wef

Valdosta, Ga.-based Sunrise Bank ($60.8 million)
Asheville, N.C.-based Pisgah Community Bank ($21.9 million)
http://leasingnews.org/archives/May2013/5_13.htm#bank_beat

Douglasville, Ga.-based Douglas County Bank ($317.3 million)
Lenoir, N.C.-based Parkway Bank ($109.6 million)
http://leasingnews.org/archives/Apr2013/4_29x.htm#bank_beat

Marianna, Fla.-based Chipola Community Bank ($37.5 million)
Orange Park, Fla.-based Heritage Bank of North Florida ($104.0 million)

Lexington, Ky.-based First Federal Bank ($93.0 million)
http://leasingnews.org/archives/Apr2013/4_23.htm#bank_beat

Gold Canyon, Ariz.-based Gold Canyon Bank ($42.1 million)
http://leasingnews.org/archives/Apr2013/4_08.htm#arizona

LaGrange, Ga.-based Frontier Bank ($258.8 million)
http://leasingnews.org/archives/Mar2013/3_11.htm#bank_beat

Chicago-based Covenant Bank ($58.4 million)
http://leasingnews.org/archives/Feb2013/2_19.htm#bank_beat

Andover, Minn.-based 1st Regents Bank ($49.6 million)
http://leasingnews.org/archives/Jan2013/1_22.htm#bank_beat

University Place, Wash.-based Westside Community Bank ($91.9 million)
http://leasingnews.org/archives/Jan2013/1_15.htm#beat

 

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.