Bank Failure Friday: Midwest Edition

Venture Bank of Lacy, Washington
Brickwell Community Bank of Woodbury, Minnesota

And the winner is (drumroll please) Corus Bank of Chicago, Illinois.

As of June 30, 2009, Corus Bank had total assets of $7 billion and total deposits of approximately $7 billion.
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The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $1.7 billion. MB Financial Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to alternatives. Corus Bank is the 90th FDIC-insured institution to fail in the nation this year, and the sixteenth in Illinois.

Actually its up to 92 banks now.

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up to 92

my question is now....do all of these smaller bank failures add up to more than the TARP recipient potential failures?

what was that expression about a bunch of small twigs bundled together is stronger than the largest branch?

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