List of largest U.S. bank failures
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Since the 1970s, over ninety U.S. banks with US$1 billion or more in assets have failed. The list below is based on assets at the time of failure of banks insured by the Federal Deposit Insurance Corporation.[1][2]
| Bank | City | State | Year | Assets at time of failure (nominal) |
Assets at time of failure (inflation-adjusted, 2021) |
Ref. |
|---|---|---|---|---|---|---|
| Washington Mutual | Seattle | Washington | 2008 | $307 billion | $386 billion | [3] |
| Silicon Valley Bank | Santa Clara | California | 2023 | $209 billion | $209 billion | [4] |
| Signature Bank | New York | New York | 2023 | $118 billion | $118 billion | [5] |
| Continental Illinois National Bank and Trust | Chicago | Illinois | 1984 | $40.0 billion | $104 billion | [3][6] |
| First Republic Bank Corporation | Dallas | Texas | 1988 | $32.5 billion | $74 billion | [7] |
| IndyMac | Pasadena | California | 2008 | $32 billion | $40 billion | [8] |
| American Savings and Loan | Stockton | California | 1988 | $30.2 billion | $69 billion | |
| Colonial Bank | Montgomery | Alabama | 2009 | $25 billion | $32 billion | [9] |
| Bank of New England | Boston | Massachusetts | 1991 | $21.7 billion | $43 billion | [7] |
| MCorp | Dallas | Texas | 1989 | $18.5 billion | $40 billion | |
| FBOP Corp banking subsidiaries | Oak Park | Illinois | 2009 | $18.4 billion | $23 billion | |
| Gibraltar Savings and Loan | Simi Valley | California | 1989 | $15.1 billion | $33 billion | |
| First City National Bank | Houston | Texas | 1988 | $13.0 billion | $30 billion | |
| Guaranty Bank | Austin | Texas | 2009 | $13.0 billion | $16 billion | [10] |
| Downey Savings and Loan | Newport Beach | California | 2008 | $12.8 billion | $16 billion | |
| BankUnited FSB | Coral Gables | Florida | 2009 | $12.8 billion | $16 billion | [10] |
| HomeFed Bank | San Diego | California | 1992 | $12.2 billion | $24 billion | |
| AmTrust Bank | Cleveland | Ohio | 2009 | $12.0 billion | $15 billion | |
| WesternBank | Mayagüez | Puerto Rico | 2010 | $11.9 billion | $15 billion | |
| United Commercial Bank | San Francisco | California | 2009 | $11.2 billion | $14 billion | |
| Southeast Bank | Miami | Florida | 1991 | $10.5 billion | $21 billion | |
| Goldome | Buffalo | New York | 1991 | $9.9 billion | $20 billion | |
| City Federal Savings and Loan | Elizabeth | New Jersey | 1989 | $9.8 billion | $21 billion | |
| Imperial Federal Savings Assoc. | San Diego | California | 1990 | $9.6 billion | $20 billion | |
| Great American Bank | San Diego | California | 1991 | $9.5 billion | $19 billion | |
| CenTrust Bank | Miami | Florida | 1990 | $8.2 billion | $17 billion | |
| Empire of America Savings | Buffalo | New York | 1990 | $8.2 billion | $17 billion | |
| California National Bank | Los Angeles | California | 2009 | $7.8 billion | $10 billion | |
| Crossland Savings Bank | Brooklyn | New York | 1992 | $7.4 billion | $14 billion | |
| The Connecticut Bank & Trust Co. | Hartford | Connecticut | 1991 | $7.2 billion | $14 billion | |
| Corus Bank | Chicago | Illinois | 2009 | $7.0 billion | $9 billion | [10] |
| Gibraltar Savings Association | Houston | Texas | 1988 | $6.5 billion | $15 billion | |
| MeraBank | Phoenix | Arizona | 1990 | $6.3 billion | $13 billion | |
| First Federal Bank of California | Santa Monica | California | 2009 | $6.1 billion | $8 billion | |
| Sunbelt Savings | Irving | Texas | 1991 | $6.0 billion | $12 billion | |
| Doral Bank | San Juan | Puerto Rico | 2015 | $5.9 billion | $7 billion | |
| R-G Premier Bank of Puerto Rico | Hato Rey | Puerto Rico | 2010 | $5.90 billion | $7 billion | |
| Western Savings and Loan | Phoenix | Arizona | 1989 | $5.7 billion | $12 billion | |
| Columbia Savings & Loan Assn. | Beverly Hills | California | 1991 | $5.4 billion | $11 billion | |
| Franklin Bank | Houston | Texas | 2008 | $5.1 billion | $6 billion | |
| Lincoln Savings and Loan Association | Irvine | California | 1989 | $4.9 billion | $11 billion | |
| Silverton Bank | Atlanta | Georgia | 2009 | $4.1 billion | $5 billion | |
| Imperial Capital Bank | La Jolla | California | 2009 | $4.0 billion | $5 billion | |
| PFF Bank & Trust | Pomona | California | 2008 | $3.7 billion | $5 billion | |
| Franklin National Bank | New York | New York | 1974 | $3.7 billion | $20 billion | |
| La Jolla Bank | La Jolla | California | 2010 | $3.6 billion | $4 billion | |
| Frontier Bank | Everett | Washington | 2010 | $3.5 billion | $4 billion | |
| Amcore Bank | Rockford | Illinois | 2010 | $3.4 billion | $4 billion | |
| First National Bank of Nevada | Reno | Nevada | 2008 | $3.4 billion | $4 billion | |
| Riverside National Bank of Florida | Fort Pierce | Florida | 2010 | $3.4 billion | $4 billion | |
| Midwest Bank and Trust Company | Elmwood Park | Illinois | 2010 | $3.2 billion | $4 billion | |
| First National Bank, also operating as The National Bank of El Paso | Edinburg | Texas | 2013 | $3.1 billion | $4 billion | |
| Superior Bank | Birmingham | Alabama | 2011 | $3.0 billion | $4 billion | |
| TierOne Bank | Lincoln | Nebraska | 2010 | $2.8 billion | $3 billion | |
| Irwin Union Bank and Trust Company | Columbus | Indiana | 2009 | $2.7 billion | $3 billion | |
| Orion Bank | Naples | Florida | 2009 | $2.7 billion | $3 billion | |
| EuroBank | San Juan | Puerto Rico | 2010 | $2.6 billion | $3 billion | |
| First Community Bank | Taos | New Mexico | 2011 | $2.3 billion | $3 billion | |
| Integra Bank, N.A. | Evansville | Indiana | 2011 | $2.2 billion | $3 billion | |
| ANB Financial | Bentonville | Arkansas | 2008 | $2.1 billion | $3 billion | |
| First Regional Bank | Los Angeles | California | 2010 | $2.1 billion | $3 billion | |
| ShoreBank | Chicago | Illinois | 2010 | $2.1 billion | $3 billion | |
| Silver State Bank | Henderson | Nevada | 2008 | $2.0 billion | $3 billion | |
| New Frontier Bank | Greeley | Colorado | 2009 | $2.0 billion | $3 billion | |
| Georgian Bank | Atlanta | Georgia | 2009 | $2.0 billion | $3 billion | |
| Vineyard Bank | Rancho Cucamonga | California | 2009 | $1.9 billion | $2 billion | |
| Peoples First Community Bank | Panama City | Florida | 2009 | $1.8 billion | $2 billion | |
| County Bank | Merced | California | 2009 | $1.7 billion | $2 billion | |
| Hillcrest Bank | Overland Park | Kansas | 2010 | $1.6 billion | $2 billion | |
| Advanta Bank Corp. | Draper | Utah | 2010 | $1.6 billion | $2 billion | |
| CF Bancorp | Port Huron | Michigan | 2010 | $1.6 billion | $2 billion | |
| Mutual Bank | Harvey | Illinois | 2009 | $1.6 billion | $2 billion | |
| Community Bank of Nevada | Las Vegas | Nevada | 2009 | $1.5 billion | $2 billion | |
| First Bank of Beverly Hills | Calabasas | California | 2009 | $1.5 billion | $2 billion | |
| Temecula Valley Bank | Temecula | California | 2009 | $1.5 billion | $2 billion | |
| New South Federal Savings Bank | Irondale | Alabama | 2009 | $1.5 billion | $2 billion | |
| Community Banks of Colorado | Greenwood Village | Colorado | 2011 | $1.4 billion | $2 billion | |
| Hamilton Bank | Miami | Florida | 2002 | $1.3 billion | $2 billion | |
| Horizon Bank | Bellingham | Washington | 2010 | $1.3 billion | $2 billion | |
| United States National Bank | San Diego | California | 1973 | $1.3 billion | $8 billion | |
| Premier Bank | Jefferson City | Missouri | 2010 | $1.2 billion | $1 billion | |
| Broadway Bank | Chicago | Illinois | 2010 | $1.2 billion | $1 billion | |
| Security Bank of Bibb County | Macon | Georgia | 2009 | $1.2 billion | $2 billion | |
| Charter Bank | Santa Fe | New Mexico | 2010 | $1.2 billion | $1 billion | |
| Alliance Bank | Culver City | California | 2009 | $1.1 billion | $1 billion | |
| City Bank | Lynnwood | Washington | 2010 | $1.1 billion | $1 billion | |
| Columbia River Bank | The Dalles | Oregon | 2010 | $1.1 billion | $1 billion | |
| Community Bank and Trust | Cornelia | Georgia | 2010 | $1.1 billion | $1 billion | |
| Integrity Bank | Alpharetta | Georgia | 2008 | $1.1 billion | $1 billion | |
| Affinity Bank | Ventura | California | 2009 | $1.0 billion | $1 billion | |
| Appalachian Community Bank | Ellijay | Georgia | 2010 | $1.0 billion | $1 billion | |
| Silvergate Bank | San Diego | California | 2023 | TBD ($3.8 billion as of January 2023)[11] | [12] |
See also[edit]
- List of bank failures in the United States (2008–present)
- List of banks acquired or bankrupted in the United States during the 2007–2008 financial crisis
- Too big to fail
References[edit]
- ^ Palumbo, Angela; Vanjani, Karishma; English, Carleton (March 9, 2023). "Silicon Valley Bank Shut Down, Biggest Bank to Fail Since Financial Crisis". Barron's. Retrieved March 14, 2023.
- ^ "Status of Washington Mutual Bank Receivership". FDIC. Retrieved March 14, 2023.
- ^ a b Comlay, Elinor; Stempel, Jonathan (September 25, 2009). "WaMu is largest U.S. bank failure". Reuters.
- ^ Flitter, Emily; Copeland, Rob (March 10, 2023). "Silicon Valley Bank Fails After Run on Deposits". The New York Times. ISSN 0362-4331. Retrieved March 11, 2023.
- ^ "Joint Statement by Treasury, Federal Reserve, and FDIC". The Federal Reserve Board. March 2023.
- ^ Haltom, Renee (May 1984). "Failure of Continental Illinois". Federal Reserve History.
- ^ a b "Ending "Too Big to Fail"". Federal Reserve. March 4, 2013.
- ^ Russell, Karl; Zhang, Christine (March 11, 2023). "The Second-Biggest Bank Failure". The New York Times. ISSN 0362-4331. Retrieved March 11, 2023.
- ^ "Colonial Bank dissolved, marking 2009's biggest bank failure". France 24. August 15, 2009.
- ^ a b c Sherter, Alain (September 12, 2009). "Corus Seized in Fourth-Largest Bank Failure This Year". CBS MoneyWatch.
- ^ Church, Steven (March 8, 2023). "Silvergate Plans to Wind Down Bank Operations and Liquidate". Bloomberg News. Archived from the original on March 9, 2023. Retrieved March 14, 2023.
- ^ "Silvergate Capital Corporation Announces Intent to Wind Down Operations and Voluntarily Liquidate Silvergate Bank". Business Wire. March 8, 2023. Archived from the original on March 13, 2023. Retrieved March 14, 2023.