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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