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Failed Banks: Class Of 2013

by Divya Lulla and Robert Clark

SNL Feature Article

Regulators did not close any banks Oct. 4, keeping the year's number of failures at 22. In 2012, regulators had closed 43 banks as of Oct. 11.

As of Oct. 11, only three of the 22 bank failures thus far in 2013 have involved 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 24% so far in 2013, 21% in 2012 and 23% in 2011.

2013 Bank Failures

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

Parsons, Tennessee---Community South Bank ($386.9 million)
http://leasingnews.org/archives/Aug2013/8_26.htm#bank_beat

Phoenix, Arizona---Sunrise Bank of Arizona ($292,2 million)
http://leasingnews.org/archives/Aug2013/8_26.htm#bank_beat

Edinburg, Texas-based First National Bank ($3.09 billion)
http://leasingnews.org/archives/Sep2013/9_16.htm#bank_beat

Bridgeport, Conn.-based Community Bank ($26.4 million)
http://leasingnews.org/archives/Sep2013/9_16.htm#bank_beat

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