FDIC Closes 3 Banks Today

The FDIC closed three banks today, bringing to 6 the number of banks closed in 2009. All three banks were on my list of 50 banks most likely to close in 2009. They were number 1 on my list, Magnet Bank of Salt Lake City, UT; number 5 on my list, Suburban Federal Savings Bank of Crofton, MD; and number 9 on my list, Ocala National Bank of Ocala, FL.

Suburban Federal Savings is being taken over by Bank of Essex. Ocala National is being taken over by CenterState Bank. In the case of Magnet Bank, the FDIC could not find an acquirer and depositors will be mailed checks for their balances on Monday.

It's worth looking at my New Year's list again of 50 banks most likely to close in 2009:

1 Magnet Bank, Salt Lake City, UT
2 Citizens Community Bank, Ridgewood, NJ
3 FirstBank Financial Services, McDonough, GA
4 Westsound Bank, Bremerton, WA
5 Suburban Federal Savings Bank, Crofton, MD
6 America West Bank, Layton, UT
7 The Community Bank, Loganville, GA
8 Silver Falls Bank, Silverton, OR
9 Ocala National Bank, Ocala, FL
10 Sun Security Bank, Ellington, MO
11 Eastern Savings Bank, FSB, Hunt Valley, MD
12 Alliance Bank, Culver City, CA
13 FirstCity Bank, Stockbridge, GA
14 Chestatee State Bank, Dawsonville, GA
15 First Security National Bank, Norcross, GA
16 Ocean Bank, Miami, FL
17 First Georgia Community Bank, Jackson, GA
18 Family Bank and Trust Co., Palos Hills, IL
19 Southern Community Bank, Fayetteville, GA
20 BankCherokee, Saint Paul, MN
21 First Tuskegee Bank, Tuskegee, AL
22 Federal Trust Bank, Sanford, FL
23 Pinnacle Bank, Beaverton, OR
24 Lake Country Community Bank, Morristown, MN
25 Mesa Bank, Mesa, AZ
26 Bank of Wyoming, Thermopolis, WY
27 1st American State Bank of Minnesota, Hancock, MN
28 First State Bank of Altus, Altus, OK
29 EvaBank, Eva, AL
30 Strategic Capital Bank, Champaign, IL
31 Ebank, Atlanta, GA
32 Polk County Bank, Johnston, IA
33 Parkway Bank, Rogers, AR
34 Security Bank of Gwinnett County, Suwanee, GA
35 State Bank of Park Rapids, Park Rapids, MN
36 Herrin Security Bank, Herrin, IL
37 Omni National Bank, Atlanta, GA
38 Northpointe Bank, Grand Rapids, MI
39 Towne Bank of Arizona, Mesa, AZ
40 Haven Trust Bank, Duluth, GA
41 Timberland Bank, El Dorado, AR
42 Blue Ridge Savings Bank, Inc., Asheville, NC
43 First Piedmont Bank, Winder, GA
44 Select Bank, Grand Rapids, MI
45 Oxford Bank, Oxford, MI
46 Security Bank of North Metro, Woodstock, GA
47 MetroPacific Bank, Irvine, CA
48 Earthstar Bank, Southampton, PA
49 Neighborhood Community Bank, Newnan, GA
50 The Home Savings and Loan Company, Youngstown, OH

Three other banks have also been closed by the FDIC in 2009. They are:
National Bank of Commerce, Berkeley, IL
Bank of Clark County, Vancouver, WA
First Centennial Bank, Redlands, CA