Bank Failure Snapshot

This evening, the FDIC announced the failure of Baltimore-based Bradford Bank. Bradford is the 82nd bank to fail this year. Since the housing bubble burst, 110 banks have failed. Total assets for those failed banks amount to $465 billion.

Some quick statistics follow:



In addition, three states account for 51 bank failures or 46% of the total to date:

Georgia: 24
Illinois: 14
California: 13

In sum, a quick snapshot reveals:

• The overwhelming majority (79%) of failed banks are small or medium-sized banks.
• The incidence of bank failures has increased markedly during the summer, with July and August accounting for 45% of this year’s failed banks.
• Bank failures have clustered in select states.

&&