FDIC Announces Sale of 20 Bridge Banks Established in October to Resolve Closed Bank Subsidiaries of First City Bancorporation of Texas, Houston; Agency Also Adds to Previous Payment to Certain Uninsured Depositors

The federal government administers insurance funds responsible for protecting depositors from losses when banks fail. More than 1,400 banks and 700 savings and loans closed between 1982 and 1992. Five hundred banks failed during the great recession of 2008 including the largest ever, Washington Mutual – with $182 billion in deposits. Don’t assume that because your bank, savings and loan or credit union no longer exists that unclaimed funds are lost forever. Your account may have been transferred to a successor bank or a government custodian after a merger or acquisition, or you may be entitled to collect insurance proceeds – up to $250,0000 per account.

closed banks fdic gov funds home index

The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships. Even if the above investments were purchased from an insured bank. This list includes banks which have failed since October 1, 2000. Before sharing sensitive information, make sure you’re on a federal government site.

Contact the FDIC

Unclaimed accounts may be recovered after years of inactivity, even if a passbook is lost or destroyed. The calculations provided by EDIE are current through March 31, 2024. The rules for revocable trust accounts (including formal trusts, ITF/POD), irrevocable trust accounts and mortgage servicing accounts will change on April 1, 2024.

closed banks fdic gov funds home index

EDIE also allows the user to print the report for their records. The FDIC is proud to be a pre-eminent source of U.S. banking industry research, including quarterly banking profiles, working papers, and state banking performance data. The Federal Deposit Insurance Corporation is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system.

Is My Account Fully Insured?

The Federal Deposit Insurance Corporation is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system. Learn about the FDIC’s mission, leadership, history, career opportunities, and more. Linking to a non-federal Website does not constitute an endorsement by FDIC or any of its employees of the sponsors or the information and products presented on the website.

Links with this icon indicate that you are leaving the FDIC website.The Federal Deposit Insurance Corporation cannot attest to the accuracy of a non-federal website. The FDIC provides a wealth of resources for consumers, bankers, analysts, and other stakeholders. Browse our collection of financial education materials, data tools, documentation of laws and regulations, information on important initiatives, and more.

FDIC Dividends from Failed Banks

You can learn more about all the new changes by visiting /resources/deposit-insurance/. Keep up with FDIC announcements, read speeches and testimony on the latest banking issues, learn about policy changes for banks, and get the details on upcoming conferences and events. EDIE lets consumers and bankers know, on a per-bank basis, how the insurance rules and limits apply to a depositor's specific group of deposit accounts—what's insured and what portion exceeds coverage limits at that bank.

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