5 failures ยท $532 billion in assets
Bank failures in 2023
Five insured banks failed in 2023; none had failed in 2022. Together they reported $532 billion in assets, and the FDIC's estimated loss on them is $34.3 billion. The largest was First Republic Bank of San Francisco, California, at $213 billion. The costliest for the insurance fund was Silicon Valley Bank, at an estimated $18.7 billion.
Week by week
- $1 billion or more
- $100 million to $1 billion
- under $100 million
Where they failed
Failures by state in 2023: California 2, New York 1, Kansas 1, Iowa 1.
Explore
Filter and sort the 2023 failures by state, size or loss.
| Closed | Bank | Location | Acquired by | Total assets | Est. loss |
|---|---|---|---|---|---|
| March 10, 2023 | Silicon Valley Bank | Santa Clara, CA | First-Citizens Bank & Trust Company | $209 billion | $18.7 billion |
| March 12, 2023 | Signature Bank | New York, NY | Flagstar Bank, N.A. | $110 billion | none |
| May 1, 2023 | First Republic Bank | San Francisco, CA | JPMorgan Chase Bank, N.A. | $213 billion | $15.5 billion |
| July 28, 2023 | Heartland Tri-State Bank | Elkhart, KS | Dream First Bank, N.A. | $139 million | $42.7 million |
| November 3, 2023 | Citizens Bank | Sac City, IA | Iowa Trust & Savings Bank | $60.4 million | $12.5 million |