How many banks failed in 2011?
There were 92 bank failures in 2011.
There were 51 bank failures in 2012. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
There were 157 bank failures in 2010. See detailed descriptions below.
Of the 568 bank failures from 2000 to 2023, 465—or 82%—occurred from 2008 to 2012. Bank failures hit a peak in 2010 at 157 in one year—more than double the number of bank failures we've seen in the last 10 years combined.
There were 140 bank failures in 2009. See detailed descriptions below.
There were 18 bank failures in 2014. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
Typical characteristics of the banks that failed included heightened concentrations of ADC lending, rapid asset growth, heightened reliance on funding sources other than stable core deposits, and relatively lower capital-to-asset ratios.
2008 in Brief. There were 25 bank failures in 2008. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
Nearly two dozen banks have failed this year, causing stress and panic for some and losses for those who had saved more than the FDIC limits. The biggest names to go under in 2008: IndyMac, Washington Mutual, Wachovia and Countrywide.
The largest bank failure ever occurred when Washington Mutual Bank went under in 2008. At the time, it had about $307 billion in assets. During the uncertainty of the banking crisis, however, Washington Mutual experienced a bank run where customers withdrew almost $17 billion in assets in less than 10 days.
Are credit unions safer than banks?
Generally, credit unions are viewed as safer than banks, although deposits at both types of financial institutions are usually insured at the same dollar amounts. The FDIC insures deposits at most banks, and the NCUA insures deposits at most credit unions.
| Bank name | Bank failure date | Assets* |
|---|---|---|
| Washington Mutual Bank | Sept. 25, 2008 | $307 billion |
| First Republic Bank | May 1, 2023 | $212 billion** |
| Silicon Valley Bank | March 10, 2023 | $209 billion** |
| Signature Bank | March 12, 2023 | $110 billion** |
Before Silicon Valley Bank collapsed in March, it had been 28 months since a U.S. bank went up in smoke — the longest stretch without a failure in more than 15 years.
There were 8 bank failures in 2017. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
SVB's collapse marked the second largest bank failure in U.S. history after Washington Mutual's in 2008. While bank failures aren't uncommon, it's rare to see banks of SVB's size become insolvent.
Still, the FDIC itself doesn't have unlimited money. If enough banks flounder at once, it could deplete the fund that backstops deposits. However, experts say even in that event, bank patrons shouldn't worry about losing their FDIC-insured money.
There were 5 bank failures in 2016. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
| Bank NameBank | CityCity | Closing DateClosing |
|---|---|---|
| The Woodbury Banking Company | Woodbury | August 19, 2016 |
| First CornerStone Bank | King of Prussia | May 6, 2016 |
| Trust Company Bank | Memphis | April 29, 2016 |
| North Milwaukee State Bank | Milwaukee | March 11, 2016 |
Bank Failures in Brief – Summary
There were 566 bank failures from 2001 through 2024. See Summary by Year below.
There were 24 bank failures in 2013. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
How many banks failed in 2006?
Bank failures aren't uncommon; a few typically happen each year. So it's rare for there to be years like 2022, 2021, 2018, 2006 or 2005, when there were no banks closed. Before March 2023, only three banks had failed since the coronavirus pandemic started.
There were 78 bank failures in 1984, with total assets of $2.9 billion. The FDIC? s inventory of assets in liquidation in 1984, exclusive of assets of Continental, climbed to 121,000 assets with a book value of $5.2 billion.
There were 8 bank failures in 2015. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.
There were no bank failures in 2005.
In 2008, nearly 1,000 companies received bailout funds through the Troubled Assets Relief Program (TARP). Some of the biggest bank bailout recipients included Bank of America, Citigroup, JPMorgan Chase and Wells Fargo. Other businesses like General Motors and Chrysler also received funds through TARP.
