Slideshow Areas of Concern

Published
  • December 13 2011, 3:52pm EST
6 Images Total

State: Georgia<br>Number of failures: 74 (2008-present)

Georgia, particularly the area around Atlanta, has been a Circle of Death for community banks. Most of those banks were overly exposed to residential development, which crashed when housing demand flat lined.

State: Florida<br>Number of Failures: 57

Most of the bank failures in Florida, a victim of a collapsed housing bubble, has been along the state’s east and west coasts.

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State: Illinois<br>Number of failures: 47

Illinois, and specifically Chicago, has suffered from an overabundance of banks, creating intense competition and creating a higher number of institutions at risk of getting shut down.

State: California<br>Number of failures: 38

California, like Florida, suffered tremendously from a sudden crash in housing valuations. Many banks suffered as borrowers often handed over the keys on underwater mortgages, particularly in Southern California.

State: Minnesota<br>Number of failures: 17

An overheated real estate market, particularly in major metropolitan areas, has been bad news for Minnesota’s banks.

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State: Washington<br>Number of failures: 17

Commercial real estate is often faulted for the high level of problematic assets on the balance sheets of banks in Washington.