100th Bank Failure Fact Sheet

• “The FDIC insures approximately 8,200 financial institutions.
• Since the beginning of 2008, the FDIC has protected more than $322.9 billion in deposits at 124 failed banks. Assets of those banks totaled more than $478.9 billion. As of September 30, the FDIC had $38.3 billion of assets in inventory from failed banks.
• Since the FDIC was created in 1933, the most failures occurred in 1989 when 534 banks and savings and loans were closed (out of 16,574 FDIC or FSLIC insured institutions at the beginning of the year), or on average more than 10 per week.
• The last time more than 100 FDIC-insured institutions were closed was in 1992, when 181 failed. The first time more than 100 FDIC-insured institutions failed in a year was 1982, when 119 were closed….”
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