Commercial Real Estate Finance

Half way through 2009, we posted a list published by CNBC.com of the largest bank failures we had seen to that point.  I thought we’d revisit this topic since the second half of ’09 proved to be even worse.  To put things in perspective, consider this: Silverton Bank, which was the second largest failure on CNBC’s list in July just barely made their new version of the list at #10.  8 of the 10 banks on this list went under in the second half of ’09.

10. Silverton Bank, N.A.
Atlanta, GA
Closed : May 1, 2009
Assets : $4.1 billion
Cost to FDIC : $1.3 billion

9. Park National Bank
Chicago, IL
Closed : Oct. 30, 2009
Assets : $4.7 billion
Cost to FDIC : N.A.

8. First Federal Bank of California, F.S.B.
Santa Monica, CA
Closed: Dec. 18, 2009
Assets: $6.1 billion
Cost to FDIC: $146.3 million

7. Corus Bank
Chicago, IL
Closed : Sept. 11, 2009
Assets : $7 billion
Cost to FDIC : $1.7 billion

6. California National Bank
Los Angeles, CA
Closed : Oct. 30, 2009
Assets : $7.8 billion
Cost to FDIC : N.A.

5. United Commercial Bank
San Francisco, CA
Closed : Nov. 6, 2009
Assets : $11.2 billion
Cost to FDIC : $1.4 billion

4. AmTrust Bank
Cleveland, OH
Closed : Dec. 4, 2009
Assets : $12 billion
Cost to FDIC : $2 billion

3. BankUnited, FSB
Coral Gables, FL
Closed : May 21, 2009
Assets : $12.80 billion
Cost to FDIC : $4.9 billion

2. Guaranty Bank
Austin, TX
Closed : Aug. 21, 2009
Assets : $13 billion
Cost to FDIC : $3 billion

1. Colonial Bank
Montgomery, AL
Closed : Aug. 14, 2009
Assets : $25 billion
Cost to FDIC : $2.8 billion

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