Bank Failures | featured news

The largest bank failure so far in 2009 is also notable because the failed bank's buyer is a consortium of private-equity firms. BankUnited, FSB, based in Coral Gables, Fla., was closed by the Office of Thrift Supervision on Thursday, and the Federal Insurance Deposit Corporation was appointed receiver.

Reserve Primary Fund founder Bruce Bent Sr. was among those charged with fraud on Tuesday by securities regulators for allegedly failing to tell investors about the fund's vulnerability to Lehman Brothers' bankruptcy.

A deal maker at Lehman pioneered ways to package debt which brought huge profits but set off the bank’s collapse.

Regulators on Friday shut down four more banks, boosting the number of failures this year to 29 -- more bank closures than in all of last year.

The latest banks seized were American Southern Bank in Georgia, Michigan Heritage Bank, First Bank of Idaho, and First Bank of Beverly Hills in California.

Washington Mutual Inc, the failed U.S. savings and loan, has sued the Federal Deposit Insurance Corp for well over $13 billion in connection with the loss of its banking operations, which was acquired by JPMorgan Chase & Co.

State and federal bank regulators shut down tiny Silver Falls Bank of Silverton, Ore., making it the 14th bank to fail this year.

Iceland's Minister of Business Affairs Bjorgvin Sigurdsson resigned Sunday, three months after the collapse of several of the country's leading banks and its stock market.

The FDIC announced 1st Centennial Bank of California was closed by the California Department of Financial Institutions.