The Woodbury Banking Company, Woodbury, Ga.įirst CornerStone Bank, King of Prussia, Pa.įirst National Bank of Crestview, Crestview, Fla.įrontier Bank (dba El Paseo Bank), Palm Desert, Calif.DR. Guaranty Bank, (dba BestBank in Georgia and Michigan), Milwaukee The Farmers and Merchants State Bank of Argonia, Argonia, Kan. Washington Federal Bank for Savings, Chicago The First State Bank, Barboursville, W.Va. 2020 list of failed banks Failed banksįirst City Bank of Florida, Fort Walton Beach, Fla. Here’s a list of banks that have failed since 2009. Quarterly assessments on FDIC-insured banks fund most of the DIF, according to the FDIC. No depositor has lost a penny of FDIC-insured funds since 1933.Īs soon as a bank fails, the FDIC estimates how much that bank failure will cost the Deposit Insurance Fund (DIF). (There was one bank failure in 2020 before the pandemic started.)īank failures happen from time to time, which is why it’s important to have your money at an FDIC bank and make sure you’re within FDIC insurance limits and guidelines. All three (The First State Bank, First City Bank of Florida and Almena State Bank) experienced previous financial problems, according to the FDIC. Only three banks have failed since the coronavirus pandemic started. So it’s rare for there to be years like 2021, 2018, 2006 or 2005, when there were no banks closed. Generally, a failure occurs when a bank becomes insolvent, meaning it lacks the funds to cover all of its customers’ deposits and the money it owes to others, according to the FDIC.īank failures aren’t uncommon, a few typically happen each year. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.ī is an independent, advertising-supported publisher and comparison service. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.īankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our experts have been helping you master your money for over four decades. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions. Our editorial team does not receive direct compensation from our advertisers.īankrate’s editorial team writes on behalf of YOU – the reader. We maintain a firewall between our advertisers and our editorial team. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. What to do when you lose your 401(k) matchīankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Should you accept an early retirement offer? How much should you contribute to your 401(k)?
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