FDIC Failed Bank List
The FDIC failed bank list is something that you should keep tabs on. Today I’ll share with you which banks are failing in my endless pursuit of keeping people informed about the economy and wealth preservation.
With Silicon Valley Bank being the latest bank to go under, it’s becoming a scary time as we’re definitely entering a recession, if we haven’t already. Please follow us as we intend to help savvy investors get past these challenging times, and even get rich during a recession.
Personally, I’m parking most of my retirement savings in precious metals. I feel we have VERY turbulent times ahead. Follow the link below to see why I advise my readers to do the same:
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What Will I Learn?
- How to Track Which Banks Have Failed
- Which Banks Will Fail in 2023?
- Customers Bankcorp
- First Republic Bank
- Sandy Spring Bancorp Inc
- New York Community Bancorp Inc
- First Foundation Inc.
- Ally Financial Inc.
- Dime Community Bancshares Inc.
- Pacific Premier Bancorp Inc.
- Prosperity Bancshares Inc.
- Columbia Financial Inc.
- Are You Prepared for a Recession?
How to Track Which Banks Have Failed
The FDIC failed bank list can be accessed here. So far, in 2023, only one bank has been added, the aforementioned Silicon Valley Bank.
This graphic above shows the banks that have been added to the list since 2017. In 2018, there weren’t any additions to the list.
Which Banks Will Fail in 2023?
There is speculation that other banks will fail in 2023. Multiple credible sources, such as Hedge Fund Manager Bill Ackman and even former chair of the Federal Deposit Insurance Corporation, William Isaac, have both gone on record saying that they feel other banks will eventually fail this year.
Silicon Valley Bank, (SVB) was a go-to resource for tech start-ups. Reports state that the bank wasn’t ready for increasing interest rates. With that bank failing, which other banks could be in trouble this year?
According to a story posted on MarketWatch, here are some banks to keep an eye on.
From this list, let’s take a look at how the market is reacting to the above information.
Shares are currently down 48% today.
First Republic Bank
The stock has dropped 60% today and it’s not even 10:30 EST as I write this.
Sandy Spring Bancorp Inc
Currently down just under 9% for today.
New York Community Bancorp Inc
Down almost 19% today.
First Foundation Inc.
Trading down 26%.
Ally Financial Inc.
Trading down about 12% today.
Dime Community is down over 16% today.
Pacific Premier Bancorp Inc.
The stock is down over 8% today.
Shares are down just under 6%, which compared to the others is a banner day!
Columbia Financial Inc.
Shares of Columbia Financial Inc. are down around 16%.
It’s been a bloodbath for regional bank stocks today in the aftermath of the SVB collapse. Which of these banks will make it, and which will ultimately fail? That will be something I cover here over time, and here’s to hoping the economy doesn’t accelerate it’s decline into a recession.
Are You Prepared for a Recession?
The best way to prepare for a recession is to make sure you not only diversify your portfolio, but also your retirement portfolio. You can do this by moving your 401k to a gold IRA.
The process is very simple.
We’ve compiled a list of the best gold IRAS you can invest with. Click the link to visit our list, or should you want to get a free wealth protection guide from our #1 recommended company for several years over, click below.
You can choose whatever amount you want to invest, but most people will decide somewhere between 5 – 30% of their retirement, depending on how close they are to retirement age.