There was one bank in the US that closed its doors on Friday, March 30th in the state of Michigan. Fidelity Bank, located in Dearborn, Michigan, is the fifth bank casualty for the month of March, and brings the total for 2012, to 16.
3/30/2012 *** MI *** Dearborn *** Fidelity Bank *** $92.8 million dollar estimated FDIC DIF cost.
The total DIF for failed banks this week is $92.8 million dollars.
If you were banking at the Fidelity Bank in Dearborn, Michigan, you are now banking at The Huntington National Bank.
For more on the FDIC bank closure lists you can go to the FDIC website and search through their report of failed banks, credit unions, and Trusts.
In 2011, there were a total of 92 banks that went into receivership, were merged with another financial institution, or closed their doors entirely.
Currently, there are nearly 1000 banks and other financial organizations on the troubled list due to mortgages, derivatives, and bad investments.
At the current rate of bank and financial institutions closing their doors so far this year, the estimated total number of closures for 2012 could reach 62.