Via National Credit Fixers - Matt Listro:

That's right you read the headline correctly.  Nine Banks failed in one day.  All 9 banks failed on Friday Oct. 30th making it the largest number of bank failures in one day in US history!

The banks that failed are:

North Houston Bank Houston TX
Madisonville State Bank Madisonville TX
Citizens National Bank Teague TX
Park National Bank Chicago IL
Pacific National Bank San Francisco CA
California National Bank Los Angeles CA
San Diego National Bank San Diego CA
Community Bank of Lemont Lemont IL
Bank USA, N.A. Phoenix AZ

 That brings the total of bank failures for 2009 to a whopping 115.  How does that total compare with previous years you ask?  Well in 2008 there were 26, in 2007 there were only 3, and in 2005 & 2006 there were zero (statistics obtained from FDIC at http://www.fdic.gov/bank/individual/failed/banklist.html)

☺ 

Matt

Toll Free: 888-NCFIXER (623-4937)
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2 Comments on 9 Banks Failed in 1 day !!!!

NOV
03
371,851 Points 34 Featured Posts Outside Blog

Hi Mirela... Sadly, on almost a weekly basis, that number seems to grow a bit more... but 9 in one day is quite a jump!
1:06am • #1
210,031 Points 1 Featured Post Localism Sponsor

Hi Mirela: Thanks for the re-blog.  I had this followup to put some perspective on it:

Here are the bank failure rates for the period of1982 - 1993

1993 - 50
1992 - 181
1991 - 271
1990 - 382
1989 - 534
1988 - 470
1987 - 262
1986 - 204
1985 - 180
1984 - 106
1983 - 99
1982 - 119

The other thing to put it in perspective would be the failure rate for 1930.  There were 1352 bank failures that one year. 

:)
9:41am • #2

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