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Bank Failures in 2008
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Since the beginning of the credit crunch in August 2007, a total of 13 banks have closed their doors, according to the Federal Deposit Insurance Corporation. This year alone, eleven banks have gone under. Take a look at the failures of 2008 (in chronological order), as measured by total assets and the cost to the FDIC’s deposit insurance fund. >Safety Nets For Savers And Investors>How to Know If Your Money Is Safe |
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Henderson, Nev.Closed: Sept. 5, 2008Assets: $2.0 billionCost to FDIC: $450 - $550 million>ARM Resets: Tsunami Ahead>What Happens When a Bank Fails |
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Alpharetta, Ga. Closed: Aug. 29, 2008Assets: $1.1 billion Cost: $250 - $350 million>The 3 C's of Getting a Mortgage>How to Know If Your Money Is Safe |
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Topeka, Kan. Closed: Aug. 22, 2008Assets: $752 millionCost: $60 million>Tips For Surviving the Credit Crunch >High Times Roll On For High-End Condo Market |
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Bradenton, Fla. Closed: Aug. 1, 2008Assets: $259 millionCost: $72 million>Safety Nets For Savers And Investors>What's In The New Housing Law |
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Closed: July 25, 2008Costs: $862 millionFirst Heritage BankNewport Beach, Calif. Assets: $254 millionFirst National Bank of NevadaReno, Nev.Assets: $3.4 billionThe costs of the two banks were combined since both are units of First National Bank Holding.>How To Be Your Own Realtor>How to Know If Your Money Is Safe |
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Pasadena, Calif. Closed: July 11, 2008 Assets: $32.01 billionCost: $4 to $8 billionThe only publicly traded bank on the list, IndyMac’s stock price reached a high of $45 on May 8, 2006, and closed at 31 cents the day before the bank was seized. >What Happens When a Bank Fails >ARM Resets: Tsunami Ahead |
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Staples, Minn. Closed: May 30, 2008 Assets: $54.7 millionCost: $2.3 million>How to Know If Your Money Is Safe>Safety Nets For Savers And Investors |
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Bentonville, Ark. Closed: May 9, 2008Assets: $2.1 billionCost: $214 million>Safety Nets For Savers And Investors>How to Be Your Own Realtor |
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Hume, Mo. Closed: March 7, 2008Assets: $18.7 millionCost: Not Available>Safety Nets For Savers And Investors>How to Know If Your Money Is Safe |
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Kansas City, Mo. Closed: Jan. 25, 2008 Assets: $58.5 millionCost: $5.6 million>Replay Slideshow>Related Slideshow: Largest US Bankruptcies>Taking Advantage of Foreclosures>How to Be Your Own Realtor |
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