And the grandaddy of the week, Guaranty Bank of Austin, Texas
As of June 30, 2009, Guaranty Bank had total assets of approximately $13 billion and total deposits of approximately $12 billion. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3 billion. ... Guaranty Bank is the 81st FDIC-insured institution to fail in the nation this year, and the second in Texas.
Guaranty Bank will cost the FDIC nearly as much as Colonial did last week.
In just the last two weeks, the FDIC has dropped an estimated $7 Billion that doesn't actually exist in the DIF. That amount is only certainly an understatement because FDIC estimates have been off by about 92% so far this year.
Meanwhile, Meredith Whitney predicts more than 300 bank failures to come.
That would be an improvement over FDIC's Bair's prediction, which is 500.