List of Acquired or Bankrupt Banks in The Late 2000s Financial Crisis

List Of Acquired Or Bankrupt Banks In The Late 2000s Financial Crisis

This is a list of financial institutions that have been affected by the Great Recession. The list includes banks (including commercial banks and investment banks), building societies and insurance companies that have either been:

  • taken over or merged with another financial institution;
  • nationalised by a government or central bank; or
  • declared insolvent or liquidated.

In the United States, the Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the presumed Merrill Lynch acquisition by Bank of America, the Bear Stearns acquisition by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America. IndyMac Bank was also a large bank that was changed into a bridge bank by the FDIC, after its failure, until the funds can be disposed of. In addition, the investment bank Lehman Brothers has filed for Chapter 11 bankruptcy protection.

In the United Kingdom, Her Majesty's Treasury has the power to acquire failing banks under the Banking (Special Provisions) Act 2008. Using powers granted by this Act, Her Majesty's Treasury acquired the shareholdings of both Northern Rock and the Bradford & Bingley; and transferred the savings accounts of failed Icelandic banks to ING Direct. Anti-terrorism legislation has been used to seize assets of the Icelandic banks, the Government of Iceland and the Icelandic central bank in the UK.


02008-04-01April 1, 2008 Bear Stearns, New York City JPMorgan Chase, New York City Investment bank $70092200000000000002,200,000,000
02008-06-07June 7, 2008 Catholic Building Society Chelsea Building Society Building Society £700751000000000000051,000,000
02008-07-01July 1, 2008 Countrywide Financial, Calabasas, California Bank of America, Charlotte, North Carolina Subprime mortgage lender $70094000000000000004,000,000,000
02008-07-14July 14, 2008 Alliance & Leicester Grupo Santander retail and mortgage bank £70091260000000000001,260,000,000
02008-08-26August 26, 2008 Roskilde Bank Danmarks Nationalbank (Danish Central Bank) Retail bank $7008896800000000000896,800,000 (kr4,500,000,000)
02008-09-07September 7, 2008 Fannie Mae and Freddie Mac Federal Housing Finance Agency Subprime mortgage lender
02008-09-08September 8, 2008 Derbyshire Building Society Nationwide Building Society Building society £70097100000000000007,100,000,000
02008-09-08September 8, 2008 Cheshire Building Society Nationwide Building Society Building society £70094900000000000004,900,000,000
02008-09-14September 14, 2008 Merrill Lynch, New York City Bank of America, Charlotte, North Carolina Investment bank $701044000000000000044,000,000,000
02008-09-16September 16, 2008 - Presumed American International Group, New York City United States federal governmentA Insurance company $7011182000000000000182,000,000,000
02008-09-17September 17, 2008 - Lehman Brothers, New York City B Barclays plc Investment bank $70091300000000000001,300,000,000
02008-09-18September 18, 2008 HBOS Lloyds TSB Diversified financial services $701021850000000000021,850,000,000
02008-09-26September 26, 2008 Washington Mutual, Seattle, Washington JPMorgan Chase, New York City Savings and loan association $70091900000000000001,900,000,000
02008-09-26September 26, 2008 Lehman BrothersC Nomura Holdings Investment bank $70002000000000000002
02008-09-28September 28, 2008 Bradford & BingleyD Government of the United Kingdom (Mortgage Assets)
Grupo Santander (Savings Liabilities)
Diversified financial services £700712000000000000012,000,000
02008-09-28September 28, 2008 Fortis Government of the Netherlands (Dutch assets including ABN AMRO)
BNP Paribas (Belgian and Luxembourg assets)
Diversified financial services €701011200000000000011,200,000,000
02008-09-30September 30, 2008 Dexia The Belgian, French and Luxembourg governments Public finance and retail
02008-10-03October 3, 2008 Wachovia, Charlotte, North Carolina Wells Fargo, San Francisco, California F Retail and investment banking $701015000000000000015,000,000,000
02008-10-07October 7, 2008 Landsbanki Icelandic Financial Supervisory Authority Commercial Bank
02008-10-08October 8, 2008 Glitnir Icelandic Financial Supervisory Authority Commercial bank
02008-10-09October 9, 2008 Kaupthing Bank Icelandic Financial Supervisory Authority Commercial bank
02008-10-09October 9, 2008 BankWest (subsidiary of HBOS) Commonwealth Bank of Australia Bank £70091200000000000001,200,000,000
02008-10-13October 13, 2008 Sovereign Bank, Wyomissing, Pennsylvania Banco Santander SA Bank $70091900000000000001,900,000,000
02008-10-22October 22, 2008 Barnsley Building Society Yorkshire Building Society Building society £7008376000000000000376,000,000
02008-10-24October 24, 2008 National City Bank, Cleveland, Ohio PNC Financial Services, Pittsburgh, Pennsylvania Bank $70095580000000000005,580,000,000
02008-10-24October 24, 2008 Commerce Bancorp, Cherry Hill, New Jersey Toronto-Dominion Bank, Toronto, Canada Bank $70098500000000000008,500,000,000
02008-11-04November 4, 2008 Scarborough Building Society Skipton Building Society Building Society
02008-11-23November 23, 2008 - Presumed Citigroup, New York City United States Federal GovernmentA Bank $300,000,000,000+
02009-01-10January 10, 2009 IndyMac Federal Bank IMB Management Holdings Savings and loan association $701013900000000000013,900,000,000
02009-01-15January 15, 2009 Anglo Irish Bank Government of the Republic of Ireland Bank
02009-02-03February 3, 2009 BTA Bank Government of Kazakhstan Bank $70092100000000000002,100,000,000
02009-02-03February 3, 2009 Alliance Bank Government of Kazakhstan Bank
02009-02-21February 21, 2009 Bank of Antigua Eastern Caribbean Central Bank Bank
02009-03-09March 9, 2009 Straumur Investment Bank Icelandic Financial Supervisory Authority Investment Bank
02009-03-09March 9, 2009 Dunfermline Building Society Bank of England (social housing loans)
Nationwide Building Society (savings, residential mortgages, branch network)
Building Society
02009-03-29March 29, 2009 Caja de Ahorros Castilla La Mancha Banco de España Savings and loan association €70099000000000000009,000,000,000
02009-12-18December 18, 2009 Philippine American Life and General Insurance Company American International Assurance Insurance company
02010-02-24February 24, 2010 Chesham Building Society (100% Bought) Skipton Building Society Building Society £7008230000000000000230,000,000
02010-05-24May 24, 2010 CajaSur Banco de España Savings and loan association €7008550000000000000550,000,000

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