Bank Failures in Brief – 2013 (2024)

FAQs

How many banks failed in 2013? ›

There were 24 bank failures in 2013. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.

Signature Bank failed on March 12, 2023. Silicon Valley Bank failed on March 10, 2023. Almena State Bank failed on October 23, 2020. First City Bank of Florida failed on October 16, 2020.

Since the establishment of the Federal Deposit Insurance Corporation (FDIC) in 1934, there have been 3,516 bank failures in the United States. Washington Mutual's failure in 2008, during the financial crisis, is the largest in the country's history. It stemmed from the bank's risky mortgage lending practices.

From 2008 to 2012, bank failures shot up to an average of 93 per year. Of the 569 bank failures from 2000 to 2024, 465—or 82%—occurred from 2008 to 2012. Bank failures hit a peak in 2010 at 157 in one year—more than double the number of bank failures we've seen in the last 10 years combined.

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.

Inflation, recessions, and housing market crashes can all cause banks to shut down. Regulation: The government provides many regulations that banks must follow, especially after the 2008 recession. Specifically, the FDIC protects individuals against losing their deposits if an insured bank fails.

JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.

The FDIC is also warning consumers of recent scams where imposters are pretending to be agency representatives to perpetrate fraudulent schemes. Since 1933, no depositor has ever lost a penny of FDIC-insured funds.

How many banks failed in 2015? ›

There were 8 bank failures in 2015. See detailed descriptions below.

There were 157 bank failures in 2010. See detailed descriptions below.

In all, 9,000 banks failed--taking with them $7 billion in depositors' assets. And in the 1930s there was no such thing as deposit insurance--this was a New Deal reform. When a bank failed the depositors were simply left without a penny.

2017 in Brief

There were 8 bank failures in 2017.