Failed Bank List | FDIC (2024)

FAQs

Failed Bank List | FDIC? ›

If the validation fails, the details are displayed under Failed Bank Accounts. The failed bank accounts can be re-submitted for validation in case of failed bank pre-validation: Click Re-Validate for the bank in the Failed Bank Accounts section and the account with status 'Validation in progress'.

If the validation fails, the details are displayed under Failed Bank Accounts. The failed bank accounts can be re-submitted for validation in case of failed bank pre-validation: Click Re-Validate for the bank in the Failed Bank Accounts section and the account with status 'Validation in progress'.

There has only been one bank failure so far in 2024. Republic First Bank (Philadelphia), which did business as Republic Bank, failed April 26. That was the first Federal Deposit Insurance Corp. (FDIC) bank to fail since Citizens Bank of Sac City, Iowa failed in November 2023.

The news: Last Friday, Pennsylvania financial regulators seized and shut down Philadelphia-based Republic First Bank in the first FDIC-insured bank failure of 2024.

The banks of greatest concern are Flagstar Bank and Zion Bancorporation, according to the screener. Flagstar Bank reported $113 billion in assets with a total CRE of $51 billion. The bank, however, only had $9.3 billion in total equity, making its total CRE exposure 553% of its total equity.

The U.S. banking sector is teetering on the edge of a significant crisis, with 63 banks currently on the brink of insolvency. This isn't just a fleeting issue; it indicates deeper financial instability that could lead to a major economic contraction.

Blacklisting typically refers to being reported to a financial database, such as ChexSystems, for past banking transgressions such as unpaid fees, frequent overdrafts, or deception.

More have closed since then, too. Between Bank of America, Chase, US Bank, Capital One, PNC Bank, Wells Fargo and TD Bank, another 400-plus have already closed in 2024. (Wells Fargo leads the pack with at least 88 bank closure filings, according to the Office of the Comptroller of the Currency.)

The collapse of Washington Mutual (WaMu) in 2008 stands out as the largest bank failure in U.S. history, according to the FDIC. When regulators seized it, WaMu had more than $300 billion in assets and $188 billion in deposits, making it the sixth-largest U.S. bank.

What banks are in crisis? ›

One question that often arises is, "Are Credit Unions Safer than Banks?" If you're looking for a short answer, you'll be happy to know that we're not making you read the whole post: Credit Unions and banks are roughly identical in safety because deposits at both are insured by the Federal government to $250,000.

JPMorgan Chase's odds of distress is less than 4% at the moment. It is unlikely to undergo any financial crunch in the next 24 months. JPMorgan Chase's Odds of distress is determined by interpolating and adjusting JPMorgan Altman Z Score to account for off-balance-sheet items and missing or unfiled public information.

A bank failure is the closing of a bank by a federal or state banking regulatory agency. Typically, a bank is closed when it becomes critically undercapitalized or is unable to meet its obligations to depositors and others.

There are different reasons for a transfer failure: Your bank account was closed; The information about your bank account is not valid (e.g. invalid account number); Your account is frozen or has restrictions; Your bank does not accept the given currency, etc.

Typically, things on your report that banks consider to be red flags include serial overdrafts, bounced checks or unpaid fees.