Many recent reports about the US economy seem to suggest things are getting better. However, through the end of February, the US saw a 28% increase in bank failures when compared to the same period a year ago. During February 2009, 10 US banks failed while during February 2010, only seven banks failed.

According to the FDIC.com website, the expected losses for the failed banks total more than $1.1 billion.

Number of failed banks by state through February 28, 2010.

• WA 4
• FL 3
• MN 3
• CA 2
• GA 2
• IL 2
• MO 1
• NM 1
• NV 1
• OR 1
• TX 1
• UT 1
• 2010 Total 22

Source: FDIC.com

Failed banks in February 2010 – sorted by estimated losses.

• $882 La Jolla Bank, FSB La Jolla CA
• $141 George Washington Savings Bank Orland Park IL
• $95 Rainier Pacific Bank Tacoma WA
• $38 Marco Community Bank Marco Island FL
• $8 Carson River Community Bank Carson City NV
• $4 The La Coste National Bank La Coste TX
• $3 1st American State Bank of Minnesota Hancock MN

Source: FDIC.com

Related Reading:

Insolvency Issues and the FDIC (Financial Institutions and Services)

Review of THE DANTE CLUB by Matthew Pearl (Books Reviewed by Georganna Hancock)

Local bank market share: personal service, part of community.(Focus: Banking & Finance): An article from: Mississippi Business Journal

Microsoft Word 2010 Introduction Quick Reference Guide (Cheat Sheet of Instructions, Tips & Shortcuts - Laminated Card)

Excel 2010 Bible

The ABC's of Fdic: How to Save Your Assets from Liquidation

Excel 2010 For Dummies