Record 7 banks closed today by FDIC. Tally crosses 50 .

77 banks failed since 2008, 25 in 2008 and 52 in 2009 till now.

6 banks were closed only in Illinois.

Today Illinois has most number of bank failures with 12 bank failures till now this year.

This follows by Georgia with 9 and California with 6 banks failures.

Check the complete list of all the failed banks at :

http://portalseven.com/Failed-Banks-2009

And on google map see where the banks are failing at :

http://portalseven.com/finance/Failed_Banks_Map_2009.jsp

Some statistics about this bank failure :

(1) John Warner Bank,Clinton, IL :

# 46th bank to fail this year in USA

# 7th bank to fail this year and 8th since 2008 from Illinois state.

# As of March 31 has $71 million in assets and $64 million in deposits

# State Bank of Lincoln, Lincoln, IL will assume all deposits of failed bank

(2) First State Bank of Winchester, Winchester, IL :

# 47th bank to fail this year in USA

# 8th bank to fail this year and 8th since 2008 from Illinois state.

# As of March 31 has $32.9 million in assets and $33.3 million in deposits

# All deposit accounts have been transferred to The First National Bank of Beardstown, Beardstown, IL

(3) Rock River Bank, Oregon, IL :

# 48th bank to fail this year in USA

# 9th bank to fail this year and 10th since 2008 from Illinois state.

# As of March 31 has $77 million in assets and $75.9 million in deposits

# All deposit accounts have been transferred to The Harvard State Bank, Harvard, IL

(4) Elizabeth State Bank, Elizabeth,IL :

# 49th bank to fail this year in USA

# 10th bank to fail this year and 11th since 2008 from Illinois state.

# As of March 31 has $58.7 million in assets and $50.3 million in deposits

# All deposit accounts have been transferred to Galena State Bank and Trust Company, Galena, IL

(5) First National Bank of Danville, Danville,IL :

# 50th bank to fail this year in USA

# 11th bank to fail this year and 12th since 2008 from Illinois state.

# As of March 31 has $164.7 million in assets and $144.8 million in deposits

# All deposit accounts have been transferred to First Financial Bank, National Association, Terre Haute, IN

(6) Millennium State Bank of Texas, Dallas,TX:

# 51st bank to fail this year in USA

# 1st bank to fail this year and 4th since 2008 from Texas state.

# As of March 31 has $126.7 million in assets and $120.2 million in deposits

# All deposit accounts have been transferred to State Bank of Texas, Irving, TX

(7) Founders Bank, Worth, IL:

# 52th bank to fail this year in USA

# 12th bank to fail this year and 13th since 2008 from Illinois state.

# As of March 31 has $966 million in assets and $828 million in deposits

# All deposit accounts have been transferred to The PrivateBank and Trust Company, Chicago, IL

Posted by pravin404 on July 2, 2009 at 6:23 PM Suggest Removal

If you look just at the closures since January 2009 you now find a total of 52 banks have failed this year. Compared to the 1930's this is not too bad until you count up the number of failed offices/branch banks: 323 to be exact, (and this does not include this week's failures). Since we're just over 6-months into the year, that averages out to 53.8 bank offices per month failing.

If we pencil in the on-line services and ATM's each bank held and count the total as 'banks' as well...you get the picture.

Yet it is suggested by various media, politicians and supposed financial advisors that the economy is getting better and would be stronger if we spent more money as consumers!

If the banks have the money and they are failing, how are consumers who don't have money, or jobs, be expected to spend what they don't have without failing too?

More banks will obviously be added to the list in the near fuure...stay tuned!

Posted by Citizen on July 2, 2009 at 11:02 PM Suggest Removal