Failed Bank list

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5 more today
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WASHINGTON (AP) -- Regulators have shut down Colonial BancGroup
Inc., a big lender in real estate development that buckled under
the collapse of the market. It was the biggest U.S. bank to fail
this year, with about $25 billion in assets.
The Federal Deposit Insurance Corp. was appointed receiver of
Montgomery, Ala.-based Colonial. The agency approved the sale of
Colonial's $20 billion in deposits and about $22 billion of its
assets to BB&T Corp. The failed bank's 346 branches in Alabama,
Florida, Georgia, Nevada and Texas will reopen at the normal times
starting on Saturday as offices of BB&T, the FDIC said.
The failure of Colonial is expected to cost the deposit
insurance fund an estimated $2.8 billion.


and a big one

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5 more this week before the labor day holiday.

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7 more bank failures friday.

we are up over 100

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U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation's banking industry are being crippled by bad loans.

The move brought the total number of failed banks in 2009 to 115 -- their highest annual level since 1992 -- with analysts expecting more to come. Among the lenders seized Friday was Los Angeles-based California National Bank, in what was the fourth-largest U.S. bank failure this year.

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United Commercial Bank of San Francisco, whose parent company was UCBH Holdings Inc. /quotes/comstock/15*!ucbh/quotes/nls/ucbh  (UCBH  0.84, -0.02, -2.33%) , was shut down by federal banking regulators late Friday, along with four other banks. The shutdown of the five banks brings the number of bank failures for 2009 to 120.

The 63 U.S. branches of United Commercial were set to reopen Saturday under the ownership of Pasadena, Calif.-based East West Bancorp Inc. /quotes/comstock/15*!ewbc/quotes/nls/ewbc (EWBC 8.65, +0.27, +3.22%) . United Commercial, which specialized in serving the Chinese community throughout the U.S. and American companies doing business in China, had assets of $11.2 billion and deposits of $7.5 billion as of Oct. 23.

The seizure of the bank by regulators comes after it had already received $299 million in federal financial aid last year. Its closure will cost the insurance deposit fund $1.4 billion, said the Federal Deposit Insurance Corp.

The company had a banking license in China, a branch in Hong Kong and a subsidiary in Shanghai, and those will be assumed by East West Bancorp. The Hong Kong Monetary Authority said deposits at UCB Hong Kong will be fully covered, according a report on Saturday by the Xinhua news agency.

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Regulators on Friday shut down six U.S. banks, taking the total number of bank closures in the year to 130. The banks closed on Friday include AmTrust Bank in Ohio, which is the fourth-largest bank to fail this year.

The Federal Deposit Insurance Corporation, or FDIC, said it took over AmTrust Bank, based in Cleveland, with about $12 billion in assets and approximately $8 billion in deposits.

The family-owned AmTrust had been in trouble for more than a year following its aggressive foray into mortgage and construction lending. The bank's failure is expected to cost the federal deposit insurance fund about $2 billion.