41 failures since 1934 · $2.3 billion estimated loss
Bank failures in Virginia
Virginia has 41 bank failures on FDIC record since 1934, 1.2% of the national total and the 23rd-highest count of any state or territory. The worst year was 1992, with 9. Since 2000 there have been 5; the most recent was Millennium Bank, National Association on February 28, 2014. The largest by assets was Perpetual Savings Bank, FSB of Vienna, with $2.9 billion, in 1992.
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| February 28, 2014 | Millennium Bank, National Association | Sterling, VA | $130 million | $10.9 million |
| September 23, 2011 | Bank of the Commonwealth | Norfolk, VA | $985 million | $239 million |
| July 29, 2011 | Virginia Business Bank | Richmond, VA | $83.5 million | $19.9 million |
| August 20, 2010 | Imperial Savings and Loan Association | Martinsville, VA | $9.4 million | $4.7 million |
| December 4, 2009 | Greater Atlantic Bank | Reston, VA | $203 million | $26.6 million |
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| August 12, 1993 | New Atlantic Bank, National Association | Norfolk, VA | $15.1 million | $792 thousand |
| December 11, 1992 | The Sailors and Merchants Bank and Trust Company | Vienna, VA | $34.8 million | $5.0 million |
| October 9, 1992 | Piedmont Federal Savings Bank | Manassas, VA | $445 million | $75.6 million |
| September 18, 1992 | The Washington Bank | Fairfax County, VA | $28.1 million | $5.1 million |
| July 17, 1992 | Liberty Savings Bank | Warrenton, VA | $92.0 million | $12.3 million |
| July 10, 1992 | Home Savings Bank FSB | Norfolk, VA | $224 million | $42.8 million |
| April 10, 1992 | Federal Savings Bank of Virginia | Falls Church, VA | $31.5 million | $14.5 million |
| April 3, 1992 | Commonwealth Savings Bank of Virginia, FSB | Manassas, VA | $72.5 million | $16.4 million |
| February 28, 1992 | Vista Federal Savings Bank | Reston, VA | $113 million | $36.9 million |
| January 10, 1992 | Perpetual Savings Bank, FSB | Vienna, VA | $2.9 billion | $454 million |
| December 13, 1991 | Investors Savings Bank, F.S.B. | Richmond, VA | $2.1 billion | $471 million |
| May 24, 1991 | First Security Bank | Roanoke, VA | $15.9 million | $4.5 million |
| May 10, 1991 | Madison National Bank of Virginia | McLean, VA | $174 million | $18.2 million |
| May 3, 1991 | Sentry Federal Savings Bank | Norfolk, VA | $50.3 million | $12.3 million |
| February 1, 1991 | Coreast Savings Bank, FSB | Richmond, VA | $1.2 billion | $211 million |
| January 25, 1991 | Trustbank Savings, F.S.B. | Tysons Corner, VA | $1.8 billion | $173 million |
| October 19, 1990 | Heritage Savings Bank, FSB | Richmond, VA | $889 million | $124 million |
| July 31, 1990 | United Savings Bank | Vienna, VA | $416 million | $135 million |
| March 2, 1990 | Security Federal Savings and Loan Association | Richmond, VA | $342 million | $24.0 million |
| December 8, 1989 | Atlantic Permanent Savings Bank FSB | Norfolk, VA | $581 million | $79.9 million |
| December 7, 1989 | Atlantic National Bank | Norfolk, VA | $14.4 million | $627 thousand |
| October 19, 1989 | Seasons Savings Bank, FSB | Richmond, VA | $261 million | $49.4 million |
| June 29, 1989 | Peoples Savings and Loan Association FA | Hampton, VA | $23.9 million | $1.4 million |
| March 30, 1989 | Community Federal Savings and Loan Association | Newport News, VA | $9.4 million | $1.3 million |
| September 16, 1988 | Ultimate Savings Bank, FSB | Richmond, VA | $206 million | $34.9 million |
| January 27, 1984 | Union Federal Savings and Loan Association | Richmond, VA | $8.6 million | not estimated |
| April 3, 1982 | Aquia Bank and Trust Company | Stafford, VA | $14.0 million | $3.5 million |
| September 4, 1964 | Crown Savings Bank | Newport News, VA | $7.9 million | not estimated |
| September 14, 1946 | Augusta County Bank, Inc. | Churchville, VA | $351 thousand | not estimated |
| January 13, 1945 | The Farmers & Merchants State Bank | Fredericksburg, VA | $6.4 million | not estimated |
| May 18, 1939 | The Parksley National Bank | Parksley, VA | $279 thousand | not estimated |
| March 26, 1938 | Merchants' and Mechanics' Savings Bank of Norfolk | Norfolk, VA | not reported | not estimated |
| March 3, 1938 | Bank of Northampton, Incorporated | Nassawadox, VA | not reported | not estimated |
| July 19, 1937 | Peoples Bank of Bloxom, Inc. | Bloxom, VA | $101 thousand | not estimated |
| May 22, 1937 | Farmers & Merchants Trust Bank | Cape Charles, VA | not reported | not estimated |
| January 9, 1935 | The National Bank of Herndon | Herndon, VA | $387 thousand | not estimated |