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In 1984, Continental Illinois faced what was then the largest bank failure in U.S. history, when a run on the bank led to its seizure by the Federal Deposit Insurance Corporation (FDIC). The bank nearly collapsed under the weight of bad debt associated with oil industry financing associated with the energy price boom of the late 1970s.
Riverside National Bank of Florida Fort Pierce: Florida: 2010 $3.4 billion $4.9 billion Midwest Bank and Trust Company Elmwood Park: Illinois: 2010 $3.2 billion $4.6 billion First National Bank, also operating as The National Bank of El Paso Edinburg: Texas: 2013 $3.1 billion $4.2 billion [15] Superior Bank Birmingham: Alabama: 2011 $3.0 billion
The Huntington National Bank 538 97 Jennings State Bank Spring Grove: Minnesota October 2, 2009: Central Bank 56 98 South Colorado National Bank Pueblo: Colorado October 2, 2009: Legacy Bank 40 99 San Joaquin Bank Bakersfield: California October 16, 2009: Citizens Business Bank 775 100 Partners Bank Naples: Florida October 23, 2009: Stonegate ...
Most bank failures don't make front-page news, so many people don't know how often they happen. Recently, however, the second-biggest bank failure in American history dominated headlines as Silicon...
Panic of 1819, a U.S. recession with bank failures; culmination of U.S.'s first boom-to-bust economic cycle; Panic of 1825, a pervasive British recession in which many banks failed, nearly including the Bank of England; Panic of 1837, a U.S. recession with bank failures, followed by a 5-year depression; Panic of 1847, United Kingdom
The FDIC report covers a tumultuous period marked by an aggressive rise in interest rates and the failures of three banks in a matter of days, including Silicon Valley Bank and Signature Bank on ...
Failed banks. Date closed. Northern Star Bank, Mankato, Minn. 12/19/2014. Frontier Bank (dba El Paseo Bank), Palm Desert, Calif. 11/07/2014. The National Republic Bank of Chicago
[51] 1984 saw the largest commercial bank failure to date, that of Continental Illinois, which was infamously branded "too big to fail". [52] The bank failed amid a rise in foreign non-performing loans (mostly in Latin America) and an electronic bank run. The FDIC stepped in to prevent the failure of almost 2,300 smaller banks which had their ...