U.S. banks keep failing. 19 More banks fail in the month of March – YTD Total 41

Nineteen more U.S. banks failed during the month of March bringing the year-to-date total to 41. The estimated losses for the month were estimated to be more than $3.1 billion. The FDIC is estimating the losses for 2010 at more than $7.8 million. In 2009, only nine banks failed during March – making the 211% increase ever more alarming.

Failed banks — March, 2010

The following is a list of banks that failed during the month of March in no particular order.

in Millions	Name of Bank	City	State
$107	Desert Hills Bank	Phoenix	AZ
$206	Unity National Bank	Cartersville	GA
$76	Key West Bank	Key West	FL
$363	McIntosh Commercial Bank	Carrollton	GA
$21	State Bank of Aurora	Aurora	MN
$137	First Lowndes Bank	Fort Deposit	AL
$233	Bank of Hiawassee	Hiawassee	GA
$799	Appalachian Community Bank	Ellijay	GA
$636	Advanta Bank Corp.	Draper	UT
$29	Century Security Bank	Duluth	GA
$17	American National Bank	Parma	OH
$38	Statewide Bank	Covington	LA
$95	Old Southern Bank	Orlando	FL
$51	The Park Avenue Bank	New York	NY
$25	LibertyPointe Bank	New York	NY
$96	Centennial Bank	Ogden	UT
$51	Waterfield Bank	Germantown	MD
$54	Bank of Illinois	Normal	IL
$104	Sun American Bank	Boca Raton	FL
$3,136	Total

Failed banks by state

Through the end of March, Georgia leads the way with seven failed banks followed by Florida with six and Washington state and Minnesota tied for third with four each.

The Failed Bank Leader Board by State for 2010