US: 489 since 2008

The number of bank failures during 2013 has declined significantly from the prior year. During 2012 there were 51 bank failures compared to a year to date total of 24 for 2013. Bank failures have now declined for three years in a row since 2010 when there were 157 bank failures. The summary below shows the total number of bank failures since the beginning of the financial crisis in 2008.

Banking Failures Since 2008

Year Number of Bank Failures

2008 25

2009 140

2010 157

2011 92

2012 51

2013 24

Total 489

The estimated cost to the FDIC Deposit Insurance Fund for the failure of Texas Community Bank is $10.8 million. The total number of bank failures for 2013 now totals 24, less than half of last year’s 51 bank failures. Texas Community Bank is the second bank failure in Texas this year after the closing of First National Bank, Edinburg, on September 13, 2013..