Failed Bank List

5 failures · $277 million in assets

Bank failures in 2016

Five insured banks failed in 2016, down from 8 in 2015. Together they reported $277 million in assets, and the FDIC's estimated loss on them is $42.5 million. The largest was First CornerStone Bank of King of Prussia, Pennsylvania, at $103 million. The costliest for the insurance fund was North Milwaukee State Bank, at an estimated $11.8 million.

Week by week

  • $1 billion or more
  • $100 million to $1 billion
  • under $100 million
Bank failures in 2016 by week of closingNorth Milwaukee State Bank, 2016-03-11Trust Company Bank, 2016-04-29First CornerStone Bank, 2016-05-06The Woodbury Banking Company, 2016-08-19Allied Bank, 2016-09-23JanFebMarAprMayJunJulAugSepOctNovDec
One square per failed bank, stacked in the week it closed. 100% of these closings fell on a Friday. The median estimated loss was 15% of a failed bank's assets.

Where they failed

Failures by state in 2016: Wisconsin 1, Tennessee 1, Pennsylvania 1, Georgia 1, Arkansas 1.

Explore

Filter and sort the 2016 failures by state, size or loss. Other years: 2015 · 2017.

All 5 failures in 2016, in closing order
ClosedBankLocationAcquired byTotal assetsEst. loss
March 11, 2016North Milwaukee State BankMilwaukee, WIFirst-Citizens Bank & Trust Company$67.1 million$11.8 million
April 29, 2016Trust Company BankMemphis, TNThe Bank of Fayette County$19.0 million$10.4 million
May 6, 2016First CornerStone BankKing of Prussia, PAFirst-Citizens Bank & Trust Company$103 million$10.8 million
August 19, 2016The Woodbury Banking CompanyWoodbury, GAUnited Bank$21.4 million$3.3 million
September 23, 2016Allied BankMulberry, ARToday's Bank$66.3 million$6.2 million