The first bank to fail in 2025 was Pulaski Savings Bank, a small, one-branch bank located in Chicago, Illinois. As of September 30, the bank had $49.5 million in total assets and $42.7 million in total deposits, according to the Federal Deposit Insurance Corp (FDIC). Pulaski Savings Bank closed its doors on January 17 and reopened the next day as a branch of Millennium Bank, a similarly small, Illinois-based bank that took over all of Pulaski Savings Bank’s deposits.
Bank failures are not uncommon, with a few typically occurring each year. Insolvency, where a bank lacks the funds to cover customer deposits and debts, is a common cause of bank failures, as outlined by the FDIC. Factors such as mismanagement, economic conditions, and criminal activities can contribute to bank failures.
It is crucial to have your money in an FDIC-insured bank, including savings accounts, certificates of deposit, checking, and money market accounts, and ensure that your balances are within FDIC insurance limits. The FDIC assures that no depositor has lost insured funds since 1933.
Between 2009 and 2025, there have been a total of five bank failures in 2023, marked by some of the largest bank failures in U.S. history. Noteworthy failures in 2023 included Silicon Valley Bank, Signature Bank, First Republic Bank, Heartland Tri-State Bank, and Citizens Bank.
Before the COVID-19 pandemic began, only three banks had failed, all of which had previous financial issues. The FDIC estimates the cost of each bank failure to the Deposit Insurance Fund (DIF), which is primarily funded by quarterly assessments on FDIC-insured banks.
Here is a list of banks that failed between 2009 and 2025:
– 2025: Pulaski Savings Bank
– 2024: The First National Bank of Lindsay, Oklahoma; Republic First Bank, Philadelphia
– 2023: Citizens Bank, Sac City, Iowa; Heartland Tri-State Bank, Elkhart, Kansas; First Republic Bank, San Francisco; Signature Bank, New York; Silicon Valley Bank, Santa Clara, California
– 2020: Almena State Bank, Almena, Kansas; First City Bank of Florida, Fort Walton Beach, Florida; The First State Bank, Barboursville, West Virginia
Ericson State Bank in Ericson, Nebraska, failed on February 14, 2020. Below is a list of failed banks from previous years:
2019:
1. City National Bank of New Jersey, Newark – Closed on November 1, 2019.
2. Resolute Bank, Maumee, Ohio – Closed on October 25, 2019.
3. Louisa Community Bank, Louisa, Kentucky – Closed on October 25, 2019.
4. The Enloe State Bank, Cooper, Texas – Closed on May 31, 2019.
2018:
No banks failed in 2018.
2017:
1. Washington Federal Bank for Savings, Chicago – Closed on December 15, 2017.
2. The Farmers and Merchants State Bank of Argonia, Argonia, Kansas – Closed on October 13, 2017.
3. Fayette County Bank, Saint Elmo, Illinois – Closed on May 26, 2017.
4. Guaranty Bank (dba BestBank in Georgia and Michigan), Milwaukee – Closed on May 5, 2017.
5. First NBC Bank, New Orleans – Closed on April 28, 2017.
6. Proficio Bank, Cottonwood Heights, Utah – Closed on March 3, 2017.
7. Seaway Bank & Trust Co., Chicago – Closed on January 27, 2017.
8. Harvest Community Bank, Pennsville, New Jersey – Closed on January 13, 2017.
… (continues for more years)
List of Failed Banks in 2012
Community Bank of the Ozarks in Sunrise Beach, Missouri closed on December 14, 2012.
Hometown Community Bank in Braselton, Georgia closed on November 16, 2012.
Citizens First National Bank in Princeton, Illinois closed on November 2, 2012.
Heritage Bank of Florida in Lutz, Florida closed on November 2, 2012.
NOVA Bank in Berwyn, Pennsylvania closed on October 26, 2012.
Excel Bank in Sedalia, Missouri closed on October 19, 2012.
First East Side Savings Bank in Tamarac, Florida closed on October 19, 2012.
GulfSouth Private Bank in Destin, Florida closed on October 19, 2012.
First United Bank in Crete, Illinois closed on September 28, 2012.
Truman Bank in St. Louis closed on September 14, 2012.
First Commercial Bank in Bloomington, Minnesota closed on September 7, 2012.
Waukegan Savings Bank in Waukegan, Illinois closed on August 3, 2012.
Jasper Banking Company in Jasper, Georgia closed on July 27, 2012.
Second Federal Savings and Loan Association of Chicago closed on July 20, 2012.
Heartland Bank in Leawood, Kansas closed on July 20, 2012.
First Cherokee State Bank in Woodstock, Georgia closed on July 20, 2012.
Georgia Trust Bank in Buford, Georgia closed on July 20, 2012.
The Royal Palm Bank in Naples, Florida closed on July 20, 2012.
Glasgow Savings Bank in Glasgow, Missouri closed on July 13, 2012.
Montgomery Bank & Trust in Ailey, Georgia closed on July 6, 2012.
The Farmers Bank of Lynchburg in Lynchburg, Tennessee closed on June 15, 2012.
Security Exchange Bank in Marietta, Georgia closed on June 15, 2012.
Putnam State Bank in Palatka, Florida closed on June 15, 2012.
Waccamaw Bank in Whiteville, North Carolina closed on June 8, 2012.
Farmers’ and Traders’ State Bank in Shabbona, Illinois closed on June 8, 2012.
Carolina Federal Savings Bank in Charleston, South Carolina closed on June 8, 2012.
First Capital Bank in Kingfisher, Oklahoma closed on June 8, 2012.
Alabama Trust Bank in Sylacuaga, Alabama closed on May 18, 2012.
Security Bank in North Lauderdale, Florida closed on May 4, 2012.
Palm Desert National Bank in Palm Desert, California closed on April 27, 2012.
Plantation Federal Bank in Pawleys
Here is the rewritten text in a more readable format:
– Florida, Milton, Fla. 9/09/2011
– CreekSide Bank, Woodstock, Ga. 9/02/2011
– Patriot Bank of Georgia, Cumming, Ga. 9/02/2011
– First Choice Bank, Geneva, Ill. 8/19/2011
– First Southern National Bank, Statesboro, Ga. 8/19/2011
– Lydian Private Bank, Palm Beach, Fl. 8/19/2011
– Public Savings Bank, Huntingdon Valley, Pa. 8/18/2011
– The First National Bank of Olathe, Olathe, Kan. 8/12/2011
– Bank of Whitman, Colfax, Wash. 8/5/2011
– Bank of Shorewood, Shorewood, Ill. 8/5/2011
– Integra Bank, Evansville, Ind. 7/29/2011
– BankMeridian, Columbia, S.C. 7/29/2011
– Virginia Business Bank, Richmond, Va. 7/22/2011
– Bank of Choice, Greeley, Colo. 7/22/2011
– LandMark Bank of Florida, Sarasota, Fla. 7/22/2011
– Southshore Community Bank, Apollo Beach, Fla. 7/22/2011
– Summit Bank, Prescott, Ariz. 7/15/2011
– First Peoples Bank, Port St. Lucie, Fla. 7/15/2011
– High Trust Bank, Stockbridge, Ga. 7/15/2011
– One Georgia Bank, Atlanta, Ga. 7/15/2011
– Signature Bank, Windsor, Colo. 7/8/2011
– Colorado Capital Bank, Castle Rock, Colo. 7/8/2011
– First Chicago Bank & Trust, Chicago 7/8/2011
– Mountain Heritage Bank, Clayton, Ga. 6/24/2011
– First Commercial Bank of Tampa Bay, Tampa, Fla. 6/17/2011
– McIntosh State Bank, Jackson, Ga. 6/17/2011
– Atlantic Bank & Trust, Charleston, S.C. 6/3/2011
– First Heritage Bank, Snohomish, Wash. 5/27/2011
– Summit Bank, Burlington, Wash. 5/20/2011
– First Georgia Banking Company, Franklin, Ga. 5/20/2011
– Atlantic Southern Bank, Macon, Ga. 5/20/2011
– Coastal Bank, Cocoa Beach, Fla. 5/6/2011
– Community Central Bank,
Here is the revised text:
– 12/17/2010: The Bank of Miami, Coral Gables, Fla.
– 12/17/2010: Earthstar Bank, Southampton, Pa.
– 12/10/2010: Paramount Bank, Farmington Hills, Mich.
– 12/10/2010: First Banking Center, Burlington, Wis.
– 11/19/2010: Allegiance Bank of North America, Bala Cynwyd, Pa.
– 11/19/2010: Gulf State Community Bank, Carrabelle, Fla.
– 11/19/2010: Copper Star Bank, Scottsdale, Ariz.
– 11/12/2010: Darby Bank & Trust Co., Vidalia, Ga.
– 11/12/2010: Tifton Banking Company, Tifton, Ga.
– 11/12/2010: First Vietnamese American Bank, Westminster, Calif.
– 11/5/2010: Pierce Commercial Bank, Tacoma, Wash.
– 11/5/2010: Western Commercial Bank, Woodland Hills, Calif.
– 11/5/2010: K Bank, Randallstown, Md.
– 11/5/2010: First Arizona Savings, Scottsdale, Ariz.
– 10/22/2010: Hillcrest Bank, Overland Park, Kan.
– 10/22/2010: First Suburban National Bank, Maywood, Ill.
– 10/22/2010: The First National Bank of Barnesville, Barnesville, Ga.
– 10/22/2010: The Gordon Bank, Gordon, Ga.
– 10/22/2010: Progress Bank of Florida, Tampa
– 10/22/2010: First Bank of Jacksonville, Jacksonville, Fla.
– 10/22/2010: Premier Bank, Jefferson City, Mo.
– 10/15/2010: WestBridge Bank & Trust Co., Chesterfield, Mo.
– 10/15/2010: Security Savings Bank, Olathe, Kan.
– 10/15/2010: Shoreline Bank, Shoreline, Wash.
– 10/1/2010: Wakulla Bank, Crawfordville, Fla.
– 10/1/2010: North County Bank, Arlington, Wash.
– 9/24/2010: Haven Trust Bank Florida, Ponte Verde Beach, Fla.
– 9/24/2010: Maritime Savings Bank, West Allis, Wis.
– 9/17/2010: Bramble Savings Bank, Milford, Ohio
– 9/17/2010: The Peoples Bank, Winder, Ga.
– 9/17/2010: First Commerce Community Bank, Douglasville, Ga.
– 9/17/2010: Bank of
Bank Failures in 2010:
May 28, 2010:
– Bank of Florida – Tampa
– Bank of Florida – Southwest, Naples
– Bank of Florida – Southeast, Fort Lauderdale
– Pinehurst Bank, Saint Paul, Minn.
– Midwest Bank & Trust Co., Elmwood Park, Ill.
– Southwest Community Bank, Springfield, Mo.
– New Liberty Bank, Plymouth, Mich.
– Satilla Community Bank, Saint Marys, Ga.
– 1st Pacific Bank of California, San Diego
– Towne Bank of Arizona, Mesa
– Access Bank, Champlin, Minn.
– The Bank of Bonifay, Bonifay, Fla.
– Frontier Bank, Everett, Wash.
April 30, 2010:
– BC National Banks, Butler, Mo.
– Champion Bank, Creve Coeur, Mo.
– CF Bancorp, Port Huron, Mich.
– Westernbank Puerto Rico, Mayaguez
– R-G Premier Bank of Puerto Rico, Hato Rey
– Eurobank, San Juan, Puerto Rico
– Wheatland Bank, Naperville, Ill.
– Peotone Bank & Trust Co., Peotone, Ill.
– Lincoln Park Savings Bank, Chicago
– New Century Bank, Chicago
– Citizens Bank & Trust Co. of Chicago
– Broadway Bank, Chicago
– Amcore Bank, Rockford, Ill.
– City Bank, Lynnwood, Wash.
April 16, 2010:
– Tamalpais Bank, San Rafael, Calif.
– Innovative Bank, Oakland, Calif.
– Butler Bank, Lowell, Mass.
– Riverside National Bank of Florida, Fort Pierce
– AmericanFirst Bank, Clermont, Fla.
– First Federal Bank of North Florida, Palatka
– Lakeside Community Bank, Sterling Heights, Mich.
– Beach First National Bank, Myrtle Beach, S.C.
– Desert Hills Bank, Phoenix
March 26, 2010:
– Unity National Bank, Cartersville, Ga.
– Key West Bank, Key West, Fla.
– McIntosh Commercial Bank, Carrollton, Ga.
– State Bank of Aurora, Aurora, Minn.
March 19, 2010:
– First Lowndes Bank, Fort Deposit, Ala.
– Bank of Hiawassee, Hiawassee, Ga.
– Appalachian Community Bank, Ellijay, Ga.
– Advanta Bank Corp, Draper, Utah
– Century Security Bank, Duluth, Minn.
– American National Bank, Parma, Ohio
– Statewide Bank, Covington, La.
March 12, 2010:
– Old Southern Bank, Orlando, Fla.
– The Park Avenue Bank, New York
– LibertyPointe Bank, New York
March 11, 2010:
– Centennial Bank, Ogden, Utah
– Waterfield Bank, Germantown, Md.
– Bank
Dependent Bankers’ Bank, Springfield, Ill. – 12/18/2009
New South Federal Savings Bank, Irondale, Ala. – 12/18/2009
Citizens State Bank, New Baltimore, Mich. – 12/18/2009
Peoples First Community Bank, Panama City, Fla. – 12/18/2009
RockBridge Commercial Bank, Atlanta – 12/18/2009
SolutionsBank, Overland Park, Kan. – 12/11/2009
Valley Capital Bank, Mesa, Az. – 12/11/2009
Republic Federal Bank, Miami – 12/11/2009
Greater Atlantic Bank, Reston, Va. – 12/04/2009
Benchmark Bank, Aurora, Ill. – 12/04/2009
AmTrust Bank, Cleveland – 12/04/2009
The Tattnall Bank, Reidsville, Ga. – 12/04/2009
First Security National Bank, Norcross, Ga. – 12/04/2009
The Buckhead Community Bank, Atlanta – 12/04/2009
Commerce Bank of Southwest Florida, Fort Myers, Fla. – 11/20/2009
Pacific Coast National Bank, San Clemente, Calif. – 11/13/2009
Orion Bank, Naples, Fla. – 11/13/2009
Century Bank, a Federal Savings Bank, Sarasota, Fla. – 11/13/2009
United Commercial Bank, San Francisco – 11/6/2009
Gateway Bank of St. Louis – 11/6/2009
Prosperan Bank, Oakdale, Minn. – 11/6/2009
Home Federal Savings Bank, Detroit – 11/6/2009
United Security Bank, Sparta, Ga. – 11/6/2009
North Houston Bank, Houston – 10/30/2009
Madisonville State Bank, Madisonville, Texas – 10/30/2009
Citizens National Bank, Teague, Texas – 10/30/2009
Park National Bank, Chicago – 10/30/2009
Pacific National Bank, San Francisco – 10/30/2009
California National Bank, Los Angeles – 10/30/2009
San Diego National Bank, San Diego – 10/30/2009
Community Bank of Lemont, Lemont, Ill. – 10/30/2009
Bank USA, Phoenix – 10/30/2009
First DuPage Bank, Westmont, Ill. – 10/23/2009
Riverview Community Bank, Otsego, Minn. – 10/23/2009
Bank of Elm
In April 2009, a series of bank closures rippled across the United States, affecting financial institutions from coast to coast. Security Bank of Gwinnett County in Suwanee, Georgia, was among the first casualties, followed by Waterford Village Bank in Williamsville, New York, and Temecula Valley Bank in Temecula, California. The wave of closures continued with Vineyard Bank in Rancho Cucamonga, California, BankFirst in Sioux Falls, South Dakota, First Piedmont Bank in Winder, Georgia, and Bank of Wyoming in Thermopolis, Wyoming.
The closure spree extended into July, claiming Founders Bank in Worth, Illinois, as well as banks in Texas, Illinois, California, and South Dakota. Notable closures included Mirae Bank in Los Angeles, Millennium State Bank of Texas in Dallas, and The First National Bank of Danville in Danville, Illinois. As the summer progressed, more banks met their demise, such as Rock River Bank in Oregon, Illinois, and The John Warner Bank in Clinton, Illinois.
By the end of June, the closures had reached California, Minnesota, Georgia, and Kansas. MetroPacific Bank in Irvine, California, Horizon Bank in Pine City, Minnesota, and Neighborhood Community Bank in Newnan, Georgia, were among the casualties. The closure of banks like Cooperative Bank in Wilmington, North Carolina, First National Bank of Anthony in Kansas, and Southern Community Bank in Fayetteville, Georgia, added to the growing list of failed institutions.
The downward trend continued into July and August, with banks in Illinois, Florida, Washington, Utah, and New Jersey being shuttered. Citizens National Bank in Macomb, Illinois, BankUnited in Coral Gables, Florida, and Westsound Bank in Bremerton, Washington, were just a few of the names added to the closure list. The closure of Silverton Bank in Atlanta, Georgia, and America West Bank in Layton, Utah, further highlighted the turbulent times for the banking industry.
As the year progressed, more closures ensued, with banks in California, Michigan, Missouri, Colorado, and Nevada succumbing to financial difficulties. Great Basin Bank of Nevada in Elko, American Sterling Bank in Sugar Creek, Missouri, and New Frontier Bank in Greeley, Colorado, were some of the institutions forced to close their doors. The closure of Cape Fear Bank in Wilmington, North Carolina, and Omni National Bank in Atlanta further underscored the challenges facing the banking sector.
The closures continued into 2009, affecting banks in Kansas, Oregon, Nebraska, and Georgia. Teambank in Paola, Kansas, Heritage Community Bank in Glenwood, Illinois, Pinnacle Bank in Beaverton, Oregon, and Alliance Bank in Culver City, California, were among the institutions that faced closure. The impact spread to Florida, Nevada, Oregon, and Georgia, with Riverside Bank of the Gulf Coast in Cape Coral, Florida, Security Savings Bank in Henderson, Nevada
