Nine Banks Fail in One Day

On Friday October 30, 2009 there were nine banks that failed, making it the largest number of bank failures in one day in US history.

Here is the the list of banks that failed:

• North Houston Bank; Houston, TX
• Madisonville State Bank; Madisonville, TX
• Citizens National Bank; Teague, TX
• Park National Bank; Chicago, IL
• Pacific National Bank; San Francisco, CA
• California National Bank; Los Angeles, CA
• San Diego National Bank; San Diego, CA
• Community Bank of Lemont; Lemont, IL
• Bank USA, N.A.; Phoenix, AZ

That brings the total of bank failures for 2009 to an incredible 115. Compared to previous years: In 2008 there were 26, in 2007 there were 3, and in 2006 and 2005 there were none.

Stats from: http://www.fdic.gov/bank/individual/failed/banklist.html