Bank Failures in Brief – 2012 (2024)

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Bank Failures in Brief – 2012? ›

2012 in Brief

First State Bank failed on April 3, 2020. Ericson State Bank failed on February 14, 2020. City National Bank of New Jersey failed on November 1, 2019.

The largest bank failure ever occurred when Washington Mutual Bank went under in 2008. At the time, it had about $307 billion in assets. During the uncertainty of the banking crisis, however, Washington Mutual experienced a bank run where customers withdrew almost $17 billion in assets in less than 10 days.

There were 157 bank failures in 2010. See detailed descriptions below.

The scandal arose when it was discovered in 2012 that banks were falsely inflating or deflating their rates so as to profit from trades, or to give the impression that they were more creditworthy than they were. Libor underpins approximately $350 trillion in derivatives.

Thousands of banks failed during the Depression and loss of confidence caused anxious depositors to create "runs" on banks as they tried to withdraw their money before the banks collapsed.

April 29 (Reuters) - U.S. regulators on Friday seized Philadelphia-based Republic First Bancorp (FRBK.PK) , opens new tab and agreed to sell it to Fulton Bank, a unit of Fulton Financial Corp (FULT.O) , opens new tab.

Canada's financial-crime watchdog has levied a $9.2-million penalty against The Toronto-Dominion Bank for non-compliance with money laundering and terrorist financing measures as the bank also faces compliance investigations in the U.S.

What two major banks failed? ›

When Silicon Valley Bank and Signature Bank failed in March, they suffered two of the largest bank failures in U.S. history. Today, we released our first report on these bank failures.

The Financial Crisis of 2007–08

This sparked the Great Recession, the most-severe financial crisis since the Great Depression, and it wreaked havoc in financial markets around the world.

There were 24 bank failures in 2013. See detailed descriptions below. For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.

There were 8 bank failures in 2015. See detailed descriptions below.

Bank failures aren't uncommon; a few typically happen each year. So it's rare for there to be years like 2022, 2021, 2018, 2006 or 2005, when there were no banks closed. Before March 2023, only three banks had failed since the coronavirus pandemic started.

There were 18 bank failures in 2014. See detailed descriptions below.

In the wake of the Great Recession, it was typical to see dozens—if not hundreds—of bank failures each year. This slowed significantly from 2015 to 2020, when the U.S. saw an average of fewer than five bank failures per year. Zero banks failed in both 2021 and 2022.

There were 8 bank failures in 2017. See detailed descriptions below.

The effect was a liquidity crisis that caused the failure of 2,293 banks in 1931, or nearly four times the average annual number of failures during the 1920s.