Number of 2011 bank failures hits 80
10/17/2011
The total number of U.S. bank and thrift failures so far in 2011 reached 80 on
Friday when state regulators closed four more institutions. This is behind last year’s
pace of 132. The Southeast region leads the way with 37 failures followed by the Midwest
with 16 and the West with 10.
Total assets of all failed institutions this year is $32.3 billion with $28.5
billion in total deposits. Last year, total assets for all 157 failures were $79.6
billion with $92.1 billion in total deposits.
Of the 80 institutions that have failed in 2011, 78, or 98%, were rated E ("Very Weak") by Weiss at the time of failure. Weiss rates 414 more banks and thrifts "Very Weak" with a rating of E+, E, or E-.
View the weakest large banks in the nation.