APPENDICES 131

6

Appendices
132 APPENDICES

The FDIC’s Strategic Plan and Annual 

Performance Plan provide the basis for annual 

planning and budgeting for needed resources. The 

2010 aggregate budget (for corporate, receivership, 

and investment spending) was $4.0 billion, while 

actual expenditures for the year were $3.4 billion, 

about $1.1 billion more than 2009 expenditures.

Over the past decade, the FDIC’s expenditures 

have varied in response to workload. During the 

last two years, expenditures have risen, largely due 

to increasing resolution and receivership activity. 

To a lesser extent, increased expenses have resulted 

from supervision-related costs associated with the 

oversight of more troubled institutions. 

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Dollars in Millions

0

500

1,000

1,500

2,000

2,500

3,000

FDIC EXPENDITURES 2001 – 2010

$3,500

A. Key Statistics
APPENDICES 133

Estimated Insured Deposits and the Deposit Insurance Fund, 

December 31, 1934, through December 31, 2010

Dollars in Millions (except Insurance Coverage)

Deposits in Insured 

Institutions

Insurance Fund as a 

Percentage of

Year

Insurance 

Coverage1

Total Domestic 

Deposits

Est. Insured 

Deposits2

Percentage 

of Insured 

Deposits

Deposit 

Insurance 

Fund

Total Domestic 

Deposits

Est. Insured 

Deposits

2010 $250,000 $7,887,730 $6,221,127 78.9 $(7,352.2) (0.09) (0.12)

2009 250,000 7,705,329 5,407,733 70.2 (20,861.8) (0.27) (0.39)

2008 100,000 7,505,409 4,750,783 63.3 17,276.3 0.23 0.36

2007 100,000 6,921,678 4,292,211 62.0 52,413.0 0.76 1.22

2006 100,000 6,640,097 4,153,808 62.6 50,165.3 0.76 1.21

2005 100,000 6,229,823 3,891,000 62.5 48,596.6 0.78 1.25

2004 100,000 5,724,775 3,622,213 63.3 47,506.8 0.83 1.31

2003 100,000 5,224,030 3,452,606 66.1 46,022.3 0.88 1.33

2002 100,000 4,916,200 3,383,720 68.8 43,797.0 0.89 1.29

2001 100,000 4,565,068 3,216,585 70.5 41,373.8 0.91 1.29

2000 100,000 4,211,895 3,055,108 72.5 41,733.8 0.99 1.37

1999 100,000 3,885,826 2,869,208 73.8 39,694.9 1.02 1.38

1998 100,000 3,817,150 2,850,452 74.7 39,452.1 1.03 1.38

1997 100,000 3,602,189 2,746,477 76.2 37,660.8 1.05 1.37

1996 100,000 3,454,556 2,690,439 77.9 35,742.8 1.03 1.33

1995 100,000 3,318,595 2,663,873 80.3 28,811.5 0.87 1.08

1994 100,000 3,184,410 2,588,619 81.3 23,784.5 0.75 0.92

1993 100,000 3,220,302 2,602,781 80.8 14,277.3 0.44 0.55

1992 100,000 3,275,530 2,677,709 81.7 178.4 0.01 0.01

1991 100,000 3,331,312 2,733,387 82.1 (6,934.0) (0.21) (0.25)

1990 100,000 3,415,464 2,784,838 81.5 4,062.7 0.12 0.15

1989 100,000 3,412,503 2,755,471 80.7 13,209.5 0.39 0.48

1988 100,000 2,337,080 1,756,771 75.2 14,061.1 0.60 0.80

1987 100,000 2,198,648 1,657,291 75.4 18,301.8 0.83 1.10

1986 100,000 2,162,687 1,636,915 75.7 18,253.3 0.84 1.12

1985 100,000 1,975,030 1,510,496 76.5 17,956.9 0.91 1.19

1984 100,000 1,805,334 1,393,421 77.2 16,529.4 0.92 1.19

1983 100,000 1,690,576 1,268,332 75.0 15,429.1 0.91 1.22

1982 100,000 1,544,697 1,134,221 73.4 13,770.9 0.89 1.21

1981 100,000 1,409,322 988,898 70.2 12,246.1 0.87 1.24

1980 100,000 1,324,463 948,717 71.6 11,019.5 0.83 1.16
134 APPENDICES

Estimated Insured Deposits and the Deposit Insurance Fund, 

December 31, 1934, through December 31, 2010 (continued)

Dollars in Millions (except Insurance Coverage)

Deposits in Insured 

Institutions

Insurance Fund as a 

Percentage of

Year

Insurance 

Coverage1

Total Domestic 

Deposits

Est. Insured 

Deposits2

Percentage 

of Insured 

Deposits

Deposit 

Insurance 

Fund

Total Domestic 

Deposits

Est. Insured 

Deposits

1979 40,000 $1,226,943 $808,555 65.9 $9,792.7 0.80 1.21

1978 40,000 1,145,835 760,706 66.4 8,796.0 0.77 1.16

1977 40,000 1,050,435 692,533 65.9 7,992.8 0.76 1.15

1976 40,000 941,923 628,263 66.7 7,268.8 0.77 1.16

1975 40,000 875,985 569,101 65.0 6,716.0 0.77 1.18

1974 40,000 833,277 520,309 62.4 6,124.2 0.73 1.18

1973 20,000 766,509 465,600 60.7 5,615.3 0.73 1.21

1972 20,000 697,480 419,756 60.2 5,158.7 0.74 1.23

1971 20,000 610,685 374,568 61.3 4,739.9 0.78 1.27

1970 20,000 545,198 349,581 64.1 4,379.6 0.80 1.25

1969 20,000 495,858 313,085 63.1 4,051.1 0.82 1.29

1968 15,000 491,513 296,701 60.4 3,749.2 0.76 1.26

1967 15,000 448,709 261,149 58.2 3,485.5 0.78 1.33

1966 15,000 401,096 234,150 58.4 3,252.0 0.81 1.39

1965 10,000 377,400 209,690 55.6 3,036.3 0.80 1.45

1964 10,000 348,981 191,787 55.0 2,844.7 0.82 1.48

1963 10,000 313,304 177,381 56.6 2,667.9 0.85 1.50

1962 10,000 297,548 170,210 57.2 2,502.0 0.84 1.47

1961 10,000 281,304 160,309 57.0 2,353.8 0.84 1.47

1960 10,000 260,495 149,684 57.5 2,222.2 0.85 1.48

1959 10,000 247,589 142,131 57.4 2,089.8 0.84 1.47

1958 10,000 242,445 137,698 56.8 1,965.4 0.81 1.43

1957 10,000 225,507 127,055 56.3 1,850.5 0.82 1.46

1956 10,000 219,393 121,008 55.2 1,742.1 0.79 1.44

1955 10,000 212,226 116,380 54.8 1,639.6 0.77 1.41

1954 10,000 203,195 110,973 54.6 1,542.7 0.76 1.39

1953 10,000 193,466 105,610 54.6 1,450.7 0.75 1.37

1952 10,000 188,142 101,841 54.1 1,363.5 0.72 1.34

1951 10,000 178,540 96,713 54.2 1,282.2 0.72 1.33

1950 10,000 167,818 91,359 54.4 1,243.9 0.74 1.36
APPENDICES 135

Estimated Insured Deposits and the Deposit Insurance Fund, 

December 31, 1934, through December 31, 2010 (continued)

Dollars in Millions (except Insurance Coverage)

Deposits in Insured 

Institutions

Insurance Fund as a 

Percentage of

Year

Insurance 

Coverage1

Total Domestic 

Deposits

Est. Insured 

Deposits2

Percentage 

of Insured 

Deposits

Deposit 

Insurance 

Fund

Total Domestic 

Deposits

Est. Insured 

Deposits

1949 5,000 156,786 76,589 48.8 1,203.9 0.77 1.57

1948 5,000 153,454 75,320 49.1 1,065.9 0.69 1.42

1947 5,000 154,096 76,254 49.5 1,006.1 0.65 1.32

1946 5,000 148,458 73,759 49.7 1,058.5 0.71 1.44

1945 5,000 157,174 67,021 42.6 929.2 0.59 1.39

1944 5,000 134,662 56,398 41.9 804.3 0.60 1.43

1943 5,000 111,650 48,440 43.4 703.1 0.63 1.45

1942 5,000 89,869 32,837 36.5 616.9 0.69 1.88

1941 5,000 71,209 28,249 39.7 553.5 0.78 1.96

1940 5,000 65,288 26,638 40.8 496.0 0.76 1.86

1939 5,000 57,485 24,650 42.9 452.7 0.79 1.84

1938 5,000 50,791 23,121 45.5 420.5 0.83 1.82

1937 5,000 48,228 22,557 46.8 383.1 0.79 1.70

1936 5,000 50,281 22,330 44.4 343.4 0.68 1.54

1935 5,000 45,125 20,158 44.7 306.0 0.68 1.52

1934 5,000 40,060 18,075 45.1 291.7 0.73 1.61

1 The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) temporarily provides unlimited 

coverage for noninterest-bearing transaction accounts for two years beginning December 31, 2010. Coverage limits do 

not reflect temporary increases authorized by the Emergency Economic Stabilization Act of 2008. Coverage for certain 

retirement accounts increased to $250,000 in 2006. Initial coverage limit was $2,500 from January 1 to June 30, 1934.

2 Beginning in the fourth quarter of 2010, estimates of insured deposits include the Dodd-Frank Act temporary 

unlimited coverage for noninterest-bearing transaction accounts. Prior to 1989, figures are for the Bank Insurance Fund 

(BIF) only and exclude insured branches of foreign banks. For 1989 to 2005, figures represent sum of the BIF and 

Savings Association Insurance Fund (SAIF) amounts; for 2006 to 2010, figures are for DIF. Amounts for 1989 - 2010 

include insured branches of foreign banks. Prior to year-end 1991, insured deposits were estimated using percentages 

determined from June Call and Thrift Financial Reports.
136 APPENDICES

Income and Expenses, Deposit Insurance Fund, from Beginning of Operations, 

September 11, 1933, through December 31, 2010

Dollars in Millions

Income Expenses and Losses

Year Total

Assessment 

Income

Assessment 

Credits

Investment 

and Other

Effective 

Assessment 

Rate1 Total

Provision for 

Ins. Losses

Administrative 

and Operating 

Expenses2

Interest & 

Other Ins. 

Expenses

Funding 

Transfer from 

the FSLIC 

Resolution 

Fund

Net Income/

(Loss)

Total $155,776.5 $101,879.8 $11,391.8 $65,877.3 $164,345.5 $134,894.6 $19,731.5 $9,719.4 $139.5 $(8,429.5)

2010 13,379.9 13,611.2 0.8 (230.5) 0.1772% 75.0 (847.8) 1,592.6 (669.8) 0 13,304.9 

2009 24,706.4 17,865.4 148.0 6,989.0 0.2330% 60,709.0 57,711.8 1,271.1 1,726.1 0 (36,002.6)

2008 7,306.3 4,410.4 1,445.9 4,341.8 0.0418% 44,339.5 41,838.8 1,033.5 1,467.2 0 (37,033.2)

2007 3,196.2 3,730.9 3,088.0 2,553.3 0.0093% 1,090.9 95.0 992.6 3.3 0 2,105.3 

2006 2,643.5 31.9 0.0 2,611.6 0.0005% 904.3 (52.1) 950.6 5.8 0 1,739.2 

2005 2,420.5 60.9 0.0 2,359.6 0.0010% 809.3 (160.2) 965.7 3.8 0 1,611.2 

2004 2,240.3 104.2 0.0 2,136.1 0.0019% 607.6 (353.4) 941.3 19.7 0 1,632.7 

2003 2,173.6 94.8 0.0 2,078.8 0.0019% (67.7) (1,010.5) 935.5 7.3 0 2,241.3 

2002 1,795.9 107.8 0.0 2,276.9 0.0023% 719.6 (243.0) 945.1 17.5 0 1,076.3 

2001 2,730.1 83.2 0.0 2,646.9 0.0019% 3,123.4 2,199.3 887.9 36.2 0 (393.3)

2000 2,570.1 64.3 0.0 2,505.8 0.0016% 945.2 28.0 883.9 33.3 0 1,624.9 

1999 2,416.7 48.4 0.0 2,368.3 0.0013% 2,047.0 1,199.7 823.4 23.9 0 369.7 

1998 2,584.6 37.0 0.0 2,547.6 0.0010% 817.5 (5.7) 782.6 40.6 0 1,767.1 

1997 2,165.5 38.6 0.0 2,126.9 0.0011% 247.3 (505.7) 677.2 75.8 0 1,918.2 

1996 7,156.8 5,294.2 0.0 1,862.6 0.1622% 353.6 (417.2) 568.3 202.5 0 6,803.2 

1995 5,229.2 3,877.0 0.0 1,352.2 0.1238% 202.2 (354.2) 510.6 45.8 0 5,027.0 

1994 7,682.1 6,722.7 0.0 959.4 0.2192% (1,825.1) (2,459.4) 443.2 191.1 0 9,507.2 

1993 7,354.5 6,682.0 0.0 672.5 0.2157% (6,744.4) (7,660.4) 418.5 497.5 0 14,098.9 

1992 6,479.3 5,758.6 0.0 720.7 0.1815% (596.8) (2,274.7) 614.83 1,063.1 35.4 7,111.5

1991 5,886.5 5,254.0 0.0 632.5 0.1613% 16,925.3 15,496.2 326.1 1,103.0 42.4 (10,996.4)

1990 3,855.3 2,872.3 0.0 983.0 0.0868% 13,059.3 12,133.1 275.6 650.6 56.1 (9,147.9)

1989 3,496.6 1,885.0 0.0 1,611.6 0.0816% 4,352.2 3,811.3 219.9 321.0 5.6 (850.0)

1988 3,347.7 1,773.0 0.0 1,574.7 0.0825% 7,588.4 6,298.3 223.9 1,066.2 0 (4,240.7)

1987 3,319.4 1,696.0 0.0 1,623.4 0.0833% 3,270.9 2,996.9 204.9 69.1 0 48.5 

1986 3,260.1 1,516.9 0.0 1,743.2 0.0787% 2,963.7 2,827.7 180.3 (44.3) 0 296.4 

1985 3,385.5 1,433.5 0.0 1,952.0 0.0815% 1,957.9 1,569.0 179.2 209.7 0 1,427.6 

1984 3,099.5 1,321.5 0.0 1,778.0 0.0800% 1,999.2 1,633.4 151.2 214.6 0 1,100.3 

1983 2,628.1 1,214.9 164.0 1,577.2 0.0714% 969.9 675.1 135.7 159.1 0 1,658.2 

1982 2,524.6 1,108.9 96.2 1,511.9 0.0769% 999.8 126.4 129.9 743.5 0 1,524.8 

1981 2,074.7 1,039.0 117.1 1,152.8 0.0714% 848.1 320.4 127.2 400.5 0 1,226.6 

1980 1,310.4 951.9 521.1 879.6 0.0370% 83.6 (38.1) 118.2 3.5 0 1,226.8 
APPENDICES 137

Income and Expenses, Deposit Insurance Fund, from Beginning of Operations, 

September 11, 1933, through December 31, 2010 (continued)

Dollars in Millions

Income Expenses and Losses

Year Total

Assessment 

Income

Assessment 

Credits

Investment 

and Other 

Effective 

Assessment 

Rate1 Total

Provision for 

Ins. Losses

Administrative 

and Operating 

Expenses2

Interest & 

Other Ins. 

Expenses

Funding 

Transfer from 

the FSLIC 

Resolution 

Fund

Net Income/

(Loss)

1979 1,090.4 881.0 524.6 734.0 0.0333% 93.7 (17.2) 106.8 4.1 0 996.7 

1978 952.1 810.1 443.1 585.1 0.0385% 148.9 36.5 103.3 9.1 0 803.2 

1977 837.8 731.3 411.9 518.4 0.0370% 113.6 20.8 89.3 3.5 0 724.2 

1976 764.9 676.1 379.6 468.4 0.0370% 212.3 28.0 180.44 3.9 0 552.6

1975 689.3 641.3 362.4 410.4 0.0357% 97.5 27.6 67.7 2.2 0 591.8 

1974 668.1 587.4 285.4 366.1 0.0435% 159.2 97.9 59.2 2.1 0 508.9 

1973 561.0 529.4 283.4 315.0 0.0385% 108.2 52.5 54.4 1.3 0 452.8 

1972 467.0 468.8 280.3 278.5 0.0333% 65.7 10.1 49.6 6.05 0 401.3

1971 415.3 417.2 241.4 239.5 0.0345% 60.3 13.4 46.9 0.0 0 355.0 

1970 382.7 369.3 210.0 223.4 0.0357% 46.0 3.8 42.2 0.0 0 336.7 

1969 335.8 364.2 220.2 191.8 0.0333% 34.5 1.0 33.5 0.0 0 301.3 

1968 295.0 334.5 202.1 162.6 0.0333% 29.1 0.1 29.0 0.0 0 265.9 

1967 263.0 303.1 182.4 142.3 0.0333% 27.3 2.9 24.4 0.0 0 235.7 

1966 241.0 284.3 172.6 129.3 0.0323% 19.9 0.1 19.8 0.0 0 221.1 

1965 214.6 260.5 158.3 112.4 0.0323% 22.9 5.2 17.7 0.0 0 191.7 

1964 197.1 238.2 145.2 104.1 0.0323% 18.4 2.9 15.5 0.0 0 178.7 

1963 181.9 220.6 136.4 97.7 0.0313% 15.1 0.7 14.4 0.0 0 166.8 

1962 161.1 203.4 126.9 84.6 0.0313% 13.8 0.1 13.7 0.0 0 147.3 

1961 147.3 188.9 115.5 73.9 0.0323% 14.8 1.6 13.2 0.0 0 132.5 

1960 144.6 180.4 100.8 65.0 0.0370% 12.5 0.1 12.4 0.0 0 132.1 

1959 136.5 178.2 99.6 57.9 0.0370% 12.1 0.2 11.9 0.0 0 124.4 

1958 126.8 166.8 93.0 53.0 0.0370% 11.6 0.0 11.6 0.0 0 115.2 

1957 117.3 159.3 90.2 48.2 0.0357% 9.7 0.1 9.6 0.0 0 107.6 

1956 111.9 155.5 87.3 43.7 0.0370% 9.4 0.3 9.1 0.0 0 102.5 

1955 105.8 151.5 85.4 39.7 0.0370% 9.0 0.3 8.7 0.0 0 96.8 

1954 99.7 144.2 81.8 37.3 0.0357% 7.8 0.1 7.7 0.0 0 91.9 

1953 94.2 138.7 78.5 34.0 0.0357% 7.3 0.1 7.2 0.0 0 86.9 

1952 88.6 131.0 73.7 31.3 0.0370% 7.8 0.8 7.0 0.0 0 80.8 

1951 83.5 124.3 70.0 29.2 0.0370% 6.6 0.0 6.6 0.0 0 76.9 

1950 84.8 122.9 68.7 30.6 0.0370% 7.8 1.4 6.4 0.0 0 77.0 
138 APPENDICES

Income and Expenses, Deposit Insurance Fund, from Beginning of Operations, 

September 11, 1933, through December 31, 2010 (continued)

Dollars in Millions

Income Expenses and Losses

Year Total

Assessment 

Income

Assessment 

Credits

Investment 

and Other

Effective 

Assessment 

Rate1 Total

Provision for 

Ins. Losses

Administrative 

and Operating 

Expenses2

Interest & 

Other Ins. 

Expenses

Funding 

Transfer from 

the FSLIC 

Resolution 

Fund

Net Income/

(Loss)

1949 151.1 122.7 0.0 28.4 0.0833% 6.4 0.3 6.1 0.0 0 144.7 

1948 145.6 119.3 0.0 26.3 0.0833% 7.0 0.7 6.36 0.0 0 138.6

1947 157.5 114.4 0.0 43.1 0.0833% 9.9 0.1 9.8 0.0 0 147.6 

1946 130.7 107.0 0.0 23.7 0.0833% 10.0 0.1 9.9 0.0 0 120.7 

1945 121.0 93.7 0.0 27.3 0.0833% 9.4 0.1 9.3 0.0 0 111.6 

1944 99.3 80.9 0.0 18.4 0.0833% 9.3 0.1 9.2 0.0 0 90.0 

1943 86.6 70.0 0.0 16.6 0.0833% 9.8 0.2 9.6 0.0 0 76.8 

1942 69.1 56.5 0.0 12.6 0.0833% 10.1 0.5 9.6 0.0 0 59.0 

1941 62.0 51.4 0.0 10.6 0.0833% 10.1 0.6 9.5 0.0 0 51.9 

1940 55.9 46.2 0.0 9.7 0.0833% 12.9 3.5 9.4 0.0 0 43.0 

1939 51.2 40.7 0.0 10.5 0.0833% 16.4 7.2 9.2 0.0 0 34.8 

1938 47.7 38.3 0.0 9.4 0.0833% 11.3 2.5 8.8 0.0 0 36.4 

1937 48.2 38.8 0.0 9.4 0.0833% 12.2 3.7 8.5 0.0 0 36.0 

1936 43.8 35.6 0.0 8.2 0.0833% 10.9 2.6 8.3 0.0 0 32.9 

1935 20.8 11.5 0.0 9.3 0.0833% 11.3 2.8 8.5 0.0 0 9.5 

1933-34 7.0 0.0 0.0 7.0 N/A 10.0 0.2 9.8 0.0 0 (3.0)

1 Figures represent only BIF-insured institutions prior to 1990, BIF- and SAIF-insured institutions from 1990 through 2005, and DIF-insured 

institutions beginning in 2006. After 1995, all thrift closings became the reponsibility of the FDIC and amounts are reflected in the SAIF. 

The effective assessment rate is calculated from annual assessment income (net of assessment credits), excluding transfers to the Financing 

Corporation (FICO), Resolution Funding Corporation (REFCORP) and FSLIC Resolution Fund, divided by the four quarter average 

assessment base. The effective rates from 1950 through 1984 varied from the statutory rate of 0.0833 percent due to assessment credits provided 

in those years. The statutory rate increased to 0.12 percent in 1990 and to a minimum of 0.15 percent in 1991. The effective rates in 1991 and 

1992 varied because the FDIC exercised new authority to increase assessments above the statutory minimum rate when needed. Beginning in 

1993, the effective rate was based on a risk-related premium system under which institutions paid assessments in the range of 0.23 percent to 

0.31 percent. In May 1995, the BIF reached the mandatory recapitalization level of 1.25 percent. As a result, BIF assessment rates were reduced 

to a range of 0.04 percent to 0.31 percent of assessable deposits, effective June 1995, and assessments totaling $1.5 billion were refunded in 

September 1995. Assessment rates for the BIF were lowered again to a range of 0 to 0.27 percent of assessable deposits, effective the start of 

1996. In 1996, the SAIF collected a one-time special assessment of $4.5 billion. Subsequently, assessment rates for the SAIF were lowered 

to the same range as the BIF, effective October 1996. This range of rates remained unchanged for both funds through 2006. As part of the 

implementation of the Federal Deposit Insurance Reform Act of 2005, assessment rates were increased to a range of 0.05 percent to 0.43 percent 

of assessable deposits effective at the start of 2007, but many institutions received a one-time assessment credit ($4.7 billion in total) to offset the 

new assessments. On December 16, 2008, the FDIC Board of Directors (the “Board”) adopted a final rule to temporarily increase assessment 

rates for the first quarter of 2009 to a range of 0.12 percent to 0.50 percent of assessable deposits. On February 27, 2009, the Board adopted a 

final rule effective April 1, 2009, setting initial base assessment rates to a range of 0.12 percent to 0.45 percent of assessable deposits. On June 

30, 2009, a special assessment was imposed on all insured banks and thrifts, which amounted in aggregate to approximately $5.4 billion. For 

8,106 institutions, with $9.3 trillion in assets, the special assessment was 5 basis points of each institution’s assets minus tier one capital; 89 other 

institutions, with assets of $4.0 trillion, had their special asssessment capped at 10 basis points of their second quarter assessment base.

2 These expenses, which are presented as operating expenses in the Statement of Income and Fund Balance, pertain to the FDIC in its corporate 

capacity only and do not include costs that are charged to the failed bank receiverships that are managed by the FDIC. The receivership expenses 

are presented as part of the “Receivables from Resolutions, net” line on the Balance Sheet. The narrative and graph presented in the “Corporate 

Planning and Budget” section of this report (page 132) show the aggregate (corporate and receivership) expenditures of the FDIC.

3 Includes $210 million for the cumulative effect of an accounting change for certain postretirement benefits.

4 Includes a $106 million net loss on government securities.

5 This amount represents interest and other insurance expenses from 1933 to 1972.

6 Includes the aggregate amount of $81 million of interest paid on capital stock between 1933 and 1948.
APPENDICES 139

Number, Assets, Deposits, Losses, and Loss To Funds of Insured

Thrifts Taken Over or Closed Because of Financial Difficulties, 

1989 Through 19951

Dollars in Thousands

Year Total Assets Deposits Estimated 

Receivership 

Loss2

Loss to Funds3

Total 748 $393,986,574 $317,501,978 $75,318,843 $81,580,645

1995 2 423,819 414,692 28,192 27,750

1994 2 136,815 127,508 11,472 14,599

1993 10 6,147,962 4,881,461 267,595 65,212

1992 59 44,196,946 34,773,224 3,234,883 3,780,121

1991 144 78,898,904 65,173,122 8,627,894 9,126,190

1990 213 129,662,498 98,963,962 16,063,762 19,258,655

19894 318 134,519,630 113,168,009 47,085,045 49,308,118

1

 Beginning in 1989 through July 1, 1995, all thrift closings were the responsibility of the Resolution Trust Corporation 

(RTC). Since the RTC was terminated on December 31, 1995, and all assets and liabilities transferred to the FSLIC 

Resolution Fund (FRF), all the results of the thrift closing activity from 1989 through 1995 are now reflected on FRF’s 

books. Year is the year of failure, not the year of resolution.

2

 The estimated losses represent the projected loss at the fund level from receiverships for unreimbursed subrogated claims 

of the FRF and unpaid advances to receiverships from the FRF.

3

 The Loss to Funds represents the total resolution cost of the failed thrifts in the FRF-RTC fund, which includes 

corporate revenue and expense items such as interest expense on Federal Financing Bank debt, interest expense on 

escrowed funds, and interest revenue on advances to receiverships, in addition to the estimated losses for receiverships.

4

 Total for 1989 excludes nine failures of the former FSLIC.
140 APPENDICES

FDIC-Insured Institutions Closed During 2010

Dollars in Thousands

Name and Location

Bank

Class

Number 

of Deposit 

Accounts

Total 

Assets1

Total 

Deposits1

Insured 

Deposit Funding 

and Other 

Disbursements

Estimated 

Loss to 

the DIF2

Date of 

Closing or 

Acquisition

Receiver/Assuming Bank 

and Location

Purchase and Assumption - All Deposits

Bank of Leeton

Leeton, MO

NM 1,662 $20,128 $20,335 $20,091 $9,046 01/22/10 Sunflower Bank, N.A.

Salina, KS

Citizens Bank Trust Company of Chicago

Chicago, IL

NM 2,259 $73,490 $74,519 $71,552 $42,861 04/23/10 Republic Bank of Chicago

Oak Brook, IL

The Bank of Bonifay

Bonifay, FL

NM 10,577 $242,871 $230,190 $225,391 $78,605 05/07/10 First Federal Bank of Florida

Lake City, FL

Towne Bank of Arizona

Mesa, AZ

NM 1,018 $120,246 $113,243 $98,547 $44,096 05/07/10 Commerce Bank of Arizona

Tucson, AZ

First National Bank

Savannah, GA 

N 3,856 $252,520 $231,857 $211,261 $93,989 06/25/10 The Savannah Bank, N.A.

Savannah, GA

The Gordon Bank

Gordon, GA

NM 2,548 $29,259 $26,867 $29,273 $8,882 10/22/10 Morris Bank

Dublin, GA

Whole Bank Purchase and Assumption - All Deposits

Horizon Bank

Bellingham, WA

NM 39,716 $1,188,956 $1,049,063 $1,040,135 $383,684 01/08/10 Washington FS&LA

Seattle, WA

St. Stephen State Bank

St. Stephen, MN

NM 2,347 $22,895 $23,912 $23,371 $12,197 01/15/10 First State Bank of St. Joseph

St. Joseph, MN

Town Community Bank & Trust

Antioch, IL

NM 1,717 $70,758 $68,323 $69,557 $26,642 01/15/10 First American Bank

Elk Grove Village, IL

Evergreen Bank

Seattle, WA

NM 11,116 $395,980 $340,378 $315,121 $109,168 01/22/10 Umpqua Bank

Roseburg, OR

Premier American Bank

Miami, FL

NM 4,865 $299,225 $285,554 $268,053 $112,344 01/22/10 Premier American Bank, N.A.

Miami, FL

Charter Bank

Santa Fe, NM

SB 19,945 $1,201,922 $859,933 $821,503 $246,120 01/22/10 Charter Bank

Albuquerque, NM

Columbia River Bank

The Dalles, OR

NM 49,744 $955,112 $908,132 $891,998 $167,875 01/22/10 Columbia State Bank

Tacoma, WA

First Regional Bank

Los Angeles, CA

NM 17,633 $2,082,684 $1,664,450 $1,540,091 $545,163 01/29/10 First-Citizens Bank & Trust 

Company

Raleigh, NC

American Marine Bank

Bainbridge Island, WA

NM 22,622 $329,246 $287,443 $269,735 $81,369 01/29/10 Columbia State Bank

Tacoma, WA

First National Bank of Georgia

Carrollton, GA

N 49,467 $840,633 $780,196 $751,253 $197,132 01/29/10 Community & Southern Bank

Carrollton, GA

Community Bank and Trust

Cornelia, GA

NM 99,016 $1,181,717 $1,067,957 $1,020,389 $363,060 01/29/10 SCBT, N.A.

Orangeburg, SC 

Florida Community Bank

Immokalee, FL

NM 25,340 $835,701 $776,556 $794,414 $331,055 01/29/10 Premier American Bank, N.A.

Miami, FL

Marshall Bank National Association

Hallock, MN

N 3,837 $58,566 $55,662 $49,297 $14,524 01/29/10 United Valley Bank

Cavalier, ND

1st American State Bank of Minnesota

Hancock, MN

NM 1,375 $18,155 $16,327 $14,452 $5,042 02/05/10 Community Development 

Bank, FSB

Ogema, MN

George Washington Savings Bank

Orland Park, IL

SI 15,015 $413,673 $395,310 $398,398 $91,528 02/19/10 FirstMerit Bank, N.A.

Akron, OH 
APPENDICES 141

FDIC-Insured Institutions Closed During 2010 (continued)

Dollars in Thousands

Name and Location

Bank

Class

Number 

of Deposit 

Accounts

Total 

Assets1

Total 

Deposits1

Insured 

Deposit Funding 

and Other 

Disbursements

Estimated 

Loss to 

the DIF2

Date of 

Closing or 

Acquisition

Receiver/Assuming Bank 

and Location

La Jolla Bank, FSB

La Jolla, CA

SB 43,243 $3,646,071 $2,799,362 $2,879,761 $1,035,182 02/19/10 OneWest Bank, FSB

Pasadena, CA

The La Coste National Bank

La Coste, TX

N 3,052 $53,936 $49,275 $49,068 $3,684 02/19/10 Community National Bank

Hondo, TX

Marco Community Bank

Marco Island, FL

SM 4,326 $119,578 $117,097 $120,435 $33,844 02/19/10 Mutual of Omaha Bank

Omaha, NE

Carson River Community Bank

Carson City, NV

NM 937 $51,095 $50,024 $51,024 $19,057 02/26/10 Heritage Bank of Nevada

Reno, NV

Rainier Pacific Bank

Tacoma, WA

SI 38,259 $717,806 $446,192 $429,154 $184,644 02/26/10 Umpqua Bank

Roseburg, OR

Bank of Illinois

Normal, IL

SM 8,050 $211,711 $198,487 $185,977 $41,856 03/05/10 Heartland Bank and Trust 

Company

Bloomington, IL

Sun American Bank

Boca Raton, FL

SM 9,845 $535,724 $443,481 $438,042 $149,588 03/05/10 First-Citizens Bank & Trust 

Company

Raleigh, NC

LibertyPointe Bank

New York, NY

NM 4,809 $216,500 $209,477 $198,442 $39,489 03/11/10 Valley National Bank

Wayne, NJ

The Park Avenue Bank

New York, NY

NM 8,771 $520,146 $494,505 $477,584 $107,539 03/12/10 Valley National Bank

Wayne, NJ

Statewide Bank

Covington, LA

NM 9,696 $243,215 $207,821 $206,074 $59,955 03/12/10 Home Bank

Lafayette, LA

Old Southern Bank

Orlando, FL

SM 6,110 $336,390 $319,746 $328,893 $87,984 03/12/10 Centennial Bank

Conway, AR

Century Security Bank

Duluth, GA

NM 1,256 $96,535 $93,967 $95,230 $39,269 03/19/10 Bank of Upson

Thomaston, GA

Appalachian Community Bank

Ellijay, GA

NM 40,289 $1,010,075 $917,575 $924,510 $309,652 03/19/10 Community & Southern Bank

Carrollton, GA

American National Bank

Parma, OH

N 1,173 $70,318 $66,752 $67,496 $26,511 03/19/10 The National Bank & Trust 

Company

Wilmington, OH

Bank of Hiawassee

Hiawassee, GA

NM 17,119 $377,779 $339,597 $329,792 $116,484 03/19/10 Citizens South Bank

Gastonia, NC

State Bank of Aurora

Aurora, MN

NM 2,641 $28,159 $27,801 $26,502 $8,693 03/19/10 Northern State Bank

Ashland, WI

First Lowndes Bank

Fort Deposit, AL

NM 8,621 $137,175 $131,117 $122,594 $35,314 03/19/10 First Citizens Bank

Luverne, AL

Desert Hills Bank

Phoenix, AZ

NM 9,393 $496,552 $426,473 $410,763 $108,310 03/26/10 New York Community Bank

Westbury, NY

Key West Bank

Key West, FL

SB 1,477 $88,031 $67,662 $76,254 $25,370 03/26/10 Centennial Bank

Conway, AR

McIntosh Commercial Bank

Carrollton, GA

NM 7,785 $363,405 $343,339 $315,912 $141,844 03/26/10 CharterBank

West Point, GA

Unity National Bank

Cartersville, GA

N 13,028 $300,590 $264,286 $244,923 $70,961 03/26/10 Bank of the Ozarks

Little Rock, AR

Beach First National Bank

Myrtle Beach, SC

N 12,329 $590,024 $516,026 $518,344 $119,396 04/09/10 Bank of North Carolina

Thomasville, NC

AmericanFirst Bank

Clermont, FL

NM 2,684 $104,034 $81,887 $92,563 $19,084 04/16/10 TD Bank, N.A. 

Wilmington, DE
142 APPENDICES

FDIC-Insured Institutions Closed During 2010 (continued)

Dollars in Thousands

Name and Location

Bank

Class

Number 

of Deposit 

Accounts

Total 

Assets1

Total 

Deposits1

Insured 

Deposit Funding 

and Other 

Disbursements

Estimated 

Loss to 

the DIF2

Date of 

Closing or 

Acquisition

Receiver/Assuming Bank 

and Location

Butler Bank

Lowell, MA

SI 8,010 $245,534 $233,222 $225,408 $27,738 04/16/10 People’s United Bank

Bridgeport, CT

City Bank

Lynwood, WA

NM 26,952 $981,913 $1,020,494 $903,819 $264,329 04/16/10 Whidbey Island Bank

Coupeville, WA

First Federal Bank of North Florida

Palatka, FL

SB 16,768 $440,122 $324,198 $371,552 $13,095 04/16/10 TD Bank, N.A.

Wilmington, DE

Innovative Bank

Oakland, CA

NM 4,349 $266,816 $225,241 $211,111 $44,817 04/16/10 Center Bank

Los Angeles, CA

Riverside National Bank of Florida

Fort Pierce, FL

N 235,048 $3,393,818 $2,724,623 $2,861,518 $605,501 04/16/10 TD Bank, N.A.

Wilmington, DE

Tamalpais Bank

San Rafael, CA

NM 12,006 $611,504 $487,582 $462,814 $76,525 04/16/10 Union Bank, N.A.

San Francisco, CA

Amcore Bank, N.A.

Rockford, IL

N 154,667 $3,066,240 $3,421,194 $2,774,842 $320,947 04/23/10 Harris National Association

Chicago, IL

Broadway Bank

Chicago, IL

NM 8,086 $1,059,194 $1,113,959 $1,021,203 $391,357 04/23/10 MB Financial Bank, N.A.

Chicago, IL

Lincoln Park Savings Bank

Chicago, IL

SI 11,153 $194,618 $162,627 $162,662 $52,020 04/23/10 Northbrook Bank and Trust 

Company

Northbrook, IL

New Century Bank

Chicago, IL

NM 6,612 $447,239 $492,046 $427,045 $125,868 04/23/10 MB Financial Bank, N.A. 

Chicago, IL

Peotone Bank and Trust Company

Peotone, IL

NM 8,405 $130,165 $124,676 $124,317 $46,514 04/23/10 First Midwest Bank

Itasca, IL

Wheatland Bank

Naperville, IL

NM 8,011 $441,694 $438,502 $445,153 $136,915 04/23/10 Wheaton Bank and Trust

Wheaton, IL

BC National Bank

Butler, MO

N 3,382 $52,204 $43,635 $40,180 $15,798 04/30/10 Community First Bank

Butler, MO

CF Bancorp

Port Huron, MI

SI 73,727 $1,599,122 $1,418,445 $1,732,557 $487,779 04/30/10 First Michigan Bank

Troy, MI

Champion Bank

Creve Coeur, MO

NM 4,242 $195,510 $153,763 $160,292 $68,999 04/30/10 BankLiberty 

Liberty, MO

Frontier Bank

Everett, WA

NM 96,539 $3,250,734 $2,846,886 $2,759,290 $1,096,211 04/30/10 Union Bank, N.A.

San Francisco, CA

Eurobank

San Juan, PR

NM 23,521 $2,453,138 $1,970,724 $2,313,651 $1,187,775 04/30/10 Oriental Bank and Trust

San Juan, PR

R-G Premier Bank of Puerto Rico

Hato Rey, PR

NM 325,495 $5,681,177 $4,220,108 $5,496,730 $1,455,166 04/30/10 Scotiabank de Puerto Rico

San Juan, PR

Westernbank Puerto Rico

Mayaguez, PR

NM 302,338 $10,797,345 $8,619,969 $10,274,407 $4,249,644 04/30/10 Banco Popular de Puerto Rico

San Juan, PR

1st Pacific Bank of California

San Diego, CA

SM 4,299 $335,798 $291,173 $267,981 $80,457 05/07/10 City National Bank

Los Angeles, CA

Access Bank

Champlin, MN

NM 1,602 $31,996 $31,969 $29,681 $8,644 05/07/10 Prinsbank

Prinsburg, MN

Midwest Bank and Trust Company

Elmwood Park, IL

SM 78,283 $3,172,915 $2,420,738 $2,265,630 $221,301 05/14/10 FirstMerit Bank, N.A.

Akron, OH

New Liberty Bank

Plymouth, MI

NM 3,125 $111,239 $101,884 $99,290 $28,640 05/14/10 Bank of Ann Arbor

Ann Arbor, MI
APPENDICES 143

FDIC-Insured Institutions Closed During 2010 (continued)

Dollars in Thousands

Name and Location

Bank

Class

Number 

of Deposit 

Accounts

Total 

Assets1

Total 

Deposits1

Insured 

Deposit Funding 

and Other 

Disbursements

Estimated 

Loss to 

the DIF2

Date of 

Closing or 

Acquisition

Receiver/Assuming Bank 

and Location

Satilla Community Bank

Saint Marys, GA

NM 2,348 $135,688 $134,005 $122,425 $32,822 05/14/10 Ameris Bank

Moultrie, GA

Southwest Community Bank

Springfield, MO

NM 1,505 $100,659 $102,463 $97,449 $32,114 05/14/10 Simmons First National Bank

Pine Bluff, AR

Pinehurst Bank

St. Paul, MN

NM 1,597 $61,215 $58,288 $54,630 $11,474 05/21/10 Coulee Bank

La Crosse, WI

Bank of Florida–Southeast

Ft. Lauderdale, FL

NM 7,333 $595,318 $531,752 $477,614 $77,586 05/28/10 Everbank

Jacksonville, FL

Bank of Florida–Southwest

Naples, FL

NM 11,061 $640,894 $559,897 $567,536 $106,905 05/28/10 Everbank

Jacksonville, FL

Bank of Florida–Tampa Bay

Tampa, FL

NM 2,628 $240,513 $224,024 $244,489 $40,273 05/28/10 Everbank

Jacksonville, FL

Granite Community Bank

Granite Bay, CA

N 2,920 $102,913 $94,252 $94,825 $21,447 05/28/10 Tri Counties Bank

Chico, CA

Sun West Bank

Las Vegas, NV

NM 6,753 $360,662 $353,943 $331,949 $96,693 05/28/10 City National Bank

Los Angeles, CA

First National Bank

Rosedale, MS

N 2,122 $60,449 $63,483 $72,828 $25,123 06/04/10 The Jefferson Bank

Fayette, MS

TierOne Bank

Lincoln, NE

SB 176,888 $2,824,737 $2,185,817 $1,897,433 $313,755 06/04/10 Great Western Bank

Sioux Falls, SD

Washington First International Bank

Seattle, WA

NM 10,035 $520,887 $441,362 $396,237 $136,118 06/11/10 East West Bank

Pasadena, CA

Nevada Security Bank

Reno, NV

NM 9,846 $492,491 $479,759 $475,638 $87,810 06/18/10 Umpqua Bank

Roseburg, OR

High Desert State Bank

Albuquerque, NM

NM 2,026 $80,343 $80,985 $73,025 $24,829 06/25/10 First American Bank

Artesia, NM

Peninsula Bank

Englewood, FL

NM 13,339 $630,179 $580,140 $605,285 $226,929 06/25/10 Premier American Bank

Miami, FL

USA Bank

Port Chester, NY

NM 2,985 $190,678 $188,644 $190,006 $65,243 07/09/10 New Century Bank

Phoenixville, PA

Bay National Bank

Lutherville, MD

N 2,661 $217,743 $212,612 $205,167 $23,368 07/09/10 Bay Bank, FSB

Lutherville, MD

Home National Bank 

Blackwell, OK

N 25,726 $585,445 $514,038 $512,769 $83,213 07/09/10 RCB Bank

Claremore, OK

Mainstreet Savings Bank, FSB

Hastings, MI

SB 8,132 $96,584 $63,291 $62,759 $15,690 07/16/10 Commercial Bank

Alma, MI

Metro Bank of Dade County

Miami, FL

SM 8,766 $399,441 $375,522 $369,253 $75,556 07/16/10 NAFH National Bank

Miami, FL

Olde Cypress Community Bank

Clewiston, FL

SB 8,110 $161,355 $157,997 $160,183 $38,643 07/16/10 CenterState Bank of 

Florida, N.A.

Winter Haven, FL

Turnberry Bank

Aventura, FL

SB 3,888 $240,250 $179,169 $177,459 $40,535 07/16/10 NAFH National Bank

Miami, FL

Woodlands Bank

Bluffton, SC

SB 6,554 $382,803 $364,808 $360,454 $120,068 07/16/10 Bank of the Ozarks

Little Rock, AR

First National Bank of the South

Spartanburg, SC

N 20,097 $619,374 $550,891 $540,575 $83,037 07/16/10 NAFH National Bank

Miami, FL
144 APPENDICES

FDIC-Insured Institutions Closed During 2010 (continued)

Dollars in Thousands

Name and Location

Bank

Class

Number 

of Deposit 

Accounts

Total 

Assets1

Total 

Deposits1

Insured 

Deposit Funding 

and Other 

Disbursements

Estimated 

Loss to 

the DIF2

Date of 

Closing or 

Acquisition

Receiver/Assuming Bank 

and Location

Community Security Bank

New Prague, MN

NM 4,984 $100,649 $95,100 $94,987 $21,438 07/23/10 Roundbank 

Waseca, MN 

Crescent Bank & Trust Company

Jasper, GA

NM 28,701 $970,235 $932,809 $918,107 $279,759 07/23/10 Renasant Bank

Tupelo, MS

Home Valley Bank

Cave Junction, OR

SM 13,230 $250,488 $227,935 $227,449 $44,651 07/23/10 South Valley Bank & Trust

Klamath Falls, OR

Southwest USA Bank

Las Vegas, NV

NM 2,068 $203,690 $183,985 $178,885 $79,904 07/23/10 Plaza Bank

Irvine, CA

Sterling Bank

Lantana, FL

SM 7,533 $354,966 $329,541 $317,657 $54,119 07/23/10 IBERIABANK

Lafayette, LA

Thunder Bank

Sylvan Grove, KS

SM 1,454 $28,248 $27,048 $25,813 $8,007 07/23/10 The Bennington State Bank

Salina, KS

Williamsburg First National Bank

Kingstree, SC

N 8,801 $130,411 $126,993 $117,906 $10,103 07/23/10 First Citizens Bank and Trust 

Company, Inc. 

Columbia, SC

Bayside Savings Bank

Port Saint Joe, FL

SB 2,191 $64,344 $52,720 $49,891 $19,966 07/30/10 Centennial Bank

Conway, AR

Coastal Community Bank

Panama City Beach, FL

NM 12,152 $377,469 $370,016 $372,707 $106,767 07/30/10 Centennial Bank

Conway, AR

Liberty Bank

Eugene, OR

NM 30,465 $714,574 $692,670 $679,600 $200,197 07/30/10 Home Federal Bank

Nampa, ID

NorthWest Bank and Trust

Acworth, GA

NM 3,861 $160,763 $155,531 $152,916 $39,380 07/30/10 State Bank and Trust Company

Macon, GA

The Cowlitz Bank

Longview, WA

NM 10,709 $489,019 $474,742 $448,186 $82,180 07/30/10 Heritage Bank

Olympia, WA

Ravenswood Bank

Chicago, IL

NM 4,472 $264,628 $269,448 $265,043 $104,994 08/06/10 Northbrook Bank and 

Trust Company

Northbrook, IL

Palos Bank and Trust Company

Palos Heights, IL

NM 26,165 $493,391 $467,784 $462,086 $86,611 08/13/10 First Midwest Bank

Itasca, IL

Butte Community Bank

Chico, CA

NM 45,195 $498,751 $471,256 $461,309 $34,729 08/20/10 Rabobank, N.A.

El Centro, CA

Community National Bank at Bartow

Bartow, FL

N 2,804 $67,918 $63,708 $60,308 $15,429 08/20/10 CenterState Bank of Florida, N.A. 

Winter Haven, FL

Imperial Savings & Loan Association

Martinsville, VA 

SB 1,363 $9,448 $10,090 $9,374 $5,062 08/20/10 River Community Bank, N.A.

Martinsville, VA

Independent National Bank

Ocala, FL

N 10,146 $156,218 $141,877 $143,569 $32,403 08/20/10 CenterState Bank of Florida, N.A. 

Winter Haven, FL 

Los Padres Bank

Solvang, CA

SB 22,198 $866,459 $770,899 $754,140 $120,143 08/20/10 Pacific Western Bank

San Diego, CA

Pacific State Bank

Stockton, CA

SM 9,957 $312,077 $278,832 $254,769 $38,909 08/20/10 Rabobank, N.A.

El Centro, CA

ShoreBank

Chicago, IL

NM 39,039 $2,166,431 $1,547,403 $2,147,161 $570,625 08/20/10 Urban Partnership Bank

Chicago, IL

Sonoma Valley Bank

Sonoma, CA

NM 12,728 $337,113 $255,501 $251,413 $19,076 08/20/10 Westamerica Bank

San Rafael, CA

Horizon Bank

Bradenton, FL

SM 6,284 $187,819 $164,594 $162,893 $68,863 09/10/10 Bank of the Ozarks

Little Rock, AR
APPENDICES 145

FDIC-Insured Institutions Closed During 2010 (continued)

Dollars in Thousands

Name and Location

Bank

Class

Number 

of Deposit 

Accounts

Total 

Assets1

Total 

Deposits1

Insured 

Deposit Funding 

and Other 

Disbursements

Estimated 

Loss to 

the DIF2

Date of 

Closing or 

Acquisition

Receiver/Assuming Bank 

and Location

Bank of Ellijay

Ellijay, GA

NM 4,524 $168,820 $160,718 $172,102 $60,270 09/17/10 Community & Southern Bank

Carrollton, GA

Bramble Savings Bank

Milford, OH

SI 1,936 $47,523 $41,551 $41,548 $17,588 09/17/10 Foundation Bank

Cincinnati, OH

First Commerce Community Bank

Douglasville, GA

NM 4,173 $248,151 $242,831 $228,416 $77,233 09/17/10 Community & Southern Bank

Carrollton, GA

ISN Bank

Cherry Hill, NJ

NM 1,106 $81,564 $79,652 $76,930 $27,799 09/17/10 New Century Bank

Phoenixville, PA

Maritime Savings Bank

West Allis, WI

SB 12,973 $350,488 $248,134 $344,476 $105,372 09/17/10 North Shore Bank, FSB

Brookfield, WI

The Peoples Bank

Winder, GA

NM 24,437 $447,185 $398,181 $373,755 $100,169 09/17/10 Community & Southern Bank

Carrollton, GA

Haven Trust Bank Florida

Ponte Vedra Beach, FL

NM 2,223 $148,575 $133,561 $130,909 $36,793 09/24/10 First Southern Bank

Boca Raton, FL

North County Bank

Arlington, WA

NM 7,602 $288,776 $276,081 $258,513 $80,531 09/24/10 Whidbey Island Bank

Coupeville, WA

Shoreline Bank

Shoreline, WA

NM 4,649 $92,980 $90,644 $90,930 $40,381 10/01/10 GBC International Bank

Los Angeles, CA

Wakulla Bank

Crawfordville, FL

NM 26,383 $402,205 $367,228 $394,803 $109,487 10/01/10 Centennial Bank

Conway, AR

Premier Bank

Jefferson City, MO

NM 28,804 $989,382 $869,367 $965,935 $404,596 10/15/10 Providence Bank

Columbia, MO

Security Savings Bank

Olathe, KS

SA 18,336 $453,349 $347,080 $339,787 $80,362 10/15/10 Simmons First National Bank

Pine Bluff, AR

Westbridge Bank and Trust

Chesterfield, MO

NM 1,261 $87,782 $70,131 $67,242 $18,588 10/15/10 Midland States Bank

Effingham, IL

First Bank of Jacksonville

Jacksonville, FL

NM 1,814 $73,922 $72,198 $72,037 $16,098 10/22/10 Ameris Bank

Moultrie, GA

First Suburban National Bank

Maywood, IL

N 6,482 $143,451 $135,475 $137,665 $28,974 10/22/10 Seaway Bank and Trust 

Company

Chicago, IL

Hillcrest Bank

Overland Park, KS

NM 38,922 $1,583,611 $1,488,785 $1,476,695 $318,195 10/22/10 Hillcrest Bank, N.A. 

Overland Park, KS

Progress Bank of Florida

Tampa, FL

SM 1,882 $94,823 $86,861 $85,294 $24,996 10/22/10 Bay Cities Bank

Tampa, FL

The First National Bank of Barnesville

Barnesville, GA

N 6,835 $126,622 $122,880 $123,943 $32,885 10/22/10 United Bank

Zebulon, GA

First Vietnamese American Bank

Westminster, CA

NM 721 $48,000 $47,012 $38,028 $9,635 11/05/10 Grandpoint Bank

Los Angeles, CA

K Bank

Randallstown, MD

NM 23,944 $538,258 $500,056 $498,567 $196,706 11/05/10 Manufacturers & Traders Trust 

Co. (M&T Bank) 

Buffalo, NY

Pierce Commercial Bank

Tacoma, WA

SM 3,356 $221,082 $193,473 $181,310 $19,814 11/05/10 Heritage Bank

Olympia, WA

Western Commercial Bank

Woodland Hills, CA

NM 1,241 $98,635 $101,127 $105,176 $24,310 11/05/10 First California Bank

Westlake Village, CA

Cooper Star Bank

Scottsdale, AZ

NM 3,321 $203,955 $190,182 $194,655 $43,169 11/12/10 Stearns Bank, N.A.

St. Cloud, MN 
146 APPENDICES

FDIC-Insured Institutions Closed During 2010 (continued)

Dollars in Thousands

Name and Location

Bank

Class

Number 

of Deposit 

Accounts

Total 

Assets1

Total 

Deposits1

Insured 

Deposit Funding 

and Other 

Disbursements

Estimated 

Loss to 

the DIF2

Date of 

Closing or 

Acquisition

Receiver/Assuming Bank 

and Location

Darby Bank & Trust Co.

Vidalia, GA

NM 19,886 $654,714 $587,626 $582,144 $129,590 11/12/10 Ameris Bank

Moultrie, GA

Tifton Banking Company

Tifton, GA

NM 2,685 $143,729 $141,573 $132,992 $24,576 11/12/10 Ameris Bank

Moultrie, GA

Allegiance Bank of America

Bala Cynwyd, PA

NM 2,765 $106,595 $91,996 $96,741 $14,235 11/19/10 VIST Bank

Wyomissing, PA

First Banking Center

Burlington, WI

SM 44,356 $750,724 $664,752 $676,743 $139,746 11/19/10 First Michigan Bank

Troy, MI

Gulf State Community Bank

Carrabelle, FL

NM 7,338 $112,144 $112,193 $108,568 $42,279 11/19/10 Centennial Bank

Conway, AR

Earthstar Bank

Southhampton, PA

NM 4,313 $112,643 $104,505 $98,170 $22,926 12/10/10 Polonia Bank

Huntingdon Valley, PA

Paramount Bank

Farmington Hills, MI

SM 4,725 $252,744 $213,550 $187,403 $89,354 12/10/10 Level One Bank

Farmington Hills, MI

Appalachian Community Bank, F.S.B.

McCaysville, GA

SA 2,639 $68,201 $76,360 $68,552 $25,876 12/17/10 Peoples Bank of 

East Tennessee

Madisonville, TN

Chestatee State Bank

Dawsonville, GA

NM 10,740 $244,376 $244,476 $234,908 $75,136 12/17/10 Bank of the Ozarks

Little Rock, AR

Community National Bank

Lino Lakes, MN

N 2,604 $31,569 $28,916 $27,269 $3,717 12/17/10 Farmers & Merchants

Savings Bank

Manchester, IA

First Southern Bank

Batesville, AR

NM 3,746 $191,764 $172,514 $141,827 $22,751 12/17/10 Southern Bank

Poplar Bluff, MO

United Americas Bank, N.A.

Atlanta, GA

N 3,851 $242,339 $244,172 $198,466 $75,294 12/17/10 State Bank and Trust Company

Macon, GA

The Bank of Miami

Coral Gables, FL

N 3,595 $448,150 $374,218 $344,755 $59,267 12/17/10 1st United Bank

Boca Raton, FL

Insured Deposit Transfer

Barnes Banking Company

Kaysville, UT

SM 31,597 $709,171 $697,109 $660,026 $207,813 01/15/10 Deposit Insurance National Bank 

of Kaysville

Kaysville, UT

Insured Deposit Payoff

Centennial Bank

Ogden, UT

NM 3,809 $212,839 $205,076 $222,567 $78,843 03/05/10 Federal Deposit Insurance 

Corporation

Advanta Bank Corp.

Draper, UT

NM 12,975 $1,525,931 $1,519,471 $1,335,574 $606,732 03/19/10 Federal Deposit Insurance 

Corporation

Lakeside Community Bank

Sterling Heights, MI

NM 1,920 $49,173 $52,290 $58,990 $21,471 04/16/10 Federal Deposit Insurance 

Corporation

Arcola Homestead Savings Bank

Arcola, IL

SI 613 $17,028 $18,092 $17,115 $10,829 06/04/10 Federal Deposit Insurance 

Corporation

Ideal Federal Savings Bank

Baltimore, MD

SB 807 $6,177 $5,803 $5,378 $5,370 07/09/10 Federal Deposit Insurance 

Corporation
APPENDICES 147

FDIC-Insured Institutions Closed During 2010 (continued)

Dollars in Thousands

Name and Location

Bank

Class

Number 

of Deposit 

Accounts

Total 

Assets1

Total 

Deposits1

Insured 

Deposit Funding 

and Other 

Disbursements

Estimated 

Loss to 

the DIF2

Date of 

Closing or 

Acquisition

Receiver/Assuming Bank 

and Location

First Arizona Savings, FSB

Scottsdale, AZ

SA 11,574 $255,920 $190,615 $265,711 $32,316 10/22/10 Federal Deposit Insurance 

Corporation

Insured Deposit Transfer/Purchase & Assumption

Waterfield Bank

Germantown, MD

SB 5,987 $155,566 $156,188 $562,273 $41,733 03/05/10 Federal Deposit Insurance 

Corporation

Codes for Bank Class:

NM = State-chartered bank that is not a member of the Federal Reserve System

N = National Bank

SB = Savings Bank

SI = Stock and Mutual Savings Bank

SM = State-chartered bank that is a member of the Federal Reserve System

SA = Savings Association

1 Total Assets and Total Deposits data is based upon the last Call Report filed by the institution prior to failure.

2 Estimated losses are as of 12/31/10. Estimated losses are routinely adjusted with updated information from new appraisals and asset sales, which 

ultimately affect the asset values and projected recoveries. Represents the estimated loss to the DIF from deposit insurance obligations. This 

amount does not include the estimated loss allocable to the Transaction Account Guarantee claim.
148 APPENDICES

Recoveries and Losses by the Deposit Insurance Fund on Disbursements for the 

Protection of Depositors, 1934 – 2010

Dollars in Thousands

Bank and Thrift Failures1

Year2

Number 

of Banks/

Thrifts Total Assets3 Total Deposits3

Insured Deposit 

Funding and Other 

Disbursements Recoveries

Estimated 

Additional 

Recoveries Estimated Losses

2,417 $879,080,555 $653,997,204 $529,207,216 $381,767,253 $31,024,200 $116,415,763 

20104 157 92,084,987 79,548,141 82,015,397 45,848,906 11,342,867 24,823,624 

20094 140 169,709,160 137,067,132 135,769,886 82,055,693 14,902,675 38,811,518 

20084 25 371,945,480 234,321,715 205,407,426 181,587,856 4,199,157 19,620,413 

2007 3 2,614,928 2,424,187 1,914,177 1,364,131 365,827 184,219 

2006 0 0 0 0 0 0 0 

2005 0 0 0 0 0 0 0 

2004 4 170,099 156,733 138,895 134,978 0 3,917 

2003 3 947,317 901,978 883,772 812,933 8,192 62,647 

2002 11 2,872,720 2,512,834 2,126,922 1,689,034 14,415 423,473 

2001 4 1,821,760 1,661,214 1,605,147 1,128,577 166,110 310,460 

2000 7 410,160 342,584 297,313 265,175 0 32,138 

1999 8 1,592,189 1,320,573 1,307,045 685,154 7,557 614,334 

1998 3 290,238 260,675 292,678 58,248 11,600 222,830 

1997 1 27,923 27,511 25,546 20,520 0 5,026 

1996 6 232,634 230,390 201,533 140,918 0 60,615 

1995 6 802,124 776,387 609,043 524,571 0 84,472 

1994 13 1,463,874 1,397,018 1,224,769 1,045,718 0 179,051 

1993 41 3,828,939 3,509,341 3,841,658 3,209,012 0 632,646 

1992 120 45,357,237 39,921,310 14,540,771 10,866,745 14 3,674,012 

1991 124 64,556,512 52,972,034 21,499,236 15,500,130 5,786 5,993,320 

1990 168 16,923,462 15,124,454 10,812,484 8,040,995 0 2,771,489 

1989 206 28,930,572 24,152,468 11,443,281 5,247,995 0 6,195,286 

1988 200 38,402,475 26,524,014 10,432,655 5,055,158 0 5,377,497 

1987 184 6,928,889 6,599,180 4,876,994 3,014,502 0 1,862,492 

1986 138 7,356,544 6,638,903 4,632,121 2,949,583 0 1,682,538 

1985 116 3,090,897 2,889,801 2,154,955 1,506,776 0 648,179 

1984 78 2,962,179 2,665,797 2,165,036 1,641,157 0 523,879 

1983 44 3,580,132 2,832,184 3,042,392 1,973,037 0 1,069,355 

1982 32 1,213,316 1,056,483 545,612 419,825 0 125,787 

1981 7 108,749 100,154 114,944 105,956 0 8,988 

1980 10 239,316 219,890 152,355 121,675 0 30,680 

1934-1979 558 8,615,743 5,842,119 5,133,173 4,752,295 0 380,878 
APPENDICES 149

Recoveries and Losses by the Deposit Insurance Fund on Disbursements for the 

Protection of Depositors, 1934 – 2010 (continued)

Dollars in Thousands

Assistance Transactions

Year2

Number 

of Banks/

Thrifts Total Assets3 Total Deposits3

Insured Deposit 

Funding and Other

Disbursements Recoveries

Estimated 

Additional 

Recoveries Estimated Losses

154 $3,317,099,253 $1,442,173,417 $11,630,356 $6,199,875 $0 $5,430,481 

20105 0 0 0 0 0 0 0 

20095 8 1,917,482,183 1,090,318,282 0 0 0 0 

20085 5 1,306,041,994 280,806,966 0 0 0 0 

2007 0 0 0 0 0 0 0 

2006 0 0 0 0 0 0 0 

2005 0 0 0 0 0 0 0 

2004 0 0 0 0 0 0 0 

2003 0 0 0 0 0 0 0 

2002 0 0 0 0 0 0 0 

2001 0 0 0 0 0 0 0 

2000 0 0 0 0 0 0 0 

1999 0 0 0 0 0 0 0 

1998 0 0 0 0 0 0 0 

1997 0 0 0 0 0 0 0 

1996 0 0 0 0 0 0 0 

1995 0 0 0 0 0 0 0 

1994 0 0 0 0 0 0 0 

1993 0 0 0 0 0 0 0 

1992 2 33,831 33,117 1,486 1,236 0 250 

1991 3 78,524 75,720 6,117 3,093 0 3,024 

1990 1 14,206 14,628 4,935 2,597 0 2,338 

1989 1 4,438 6,396 2,548 252 0 2,296 

1988 80 15,493,939 11,793,702 1,730,351 189,709 0 1,540,642 

1987 19 2,478,124 2,275,642 160,877 713 0 160,164 

1986 7 712,558 585,248 158,848 65,669 0 93,179 

1985 4 5,886,381 5,580,359 765,732 406,676 0 359,056 
150 APPENDICES

Recoveries and Losses by the Deposit Insurance Fund on Disbursements for the 

Protection of Depositors, 1934 – 2010 (continued)

Dollars in Thousands

Assistance Transactions (continued)

Year2

Number 

of Banks/

Thrifts Total Assets3 Total Deposits3

Insured Deposit 

Funding and Other

Disbursements Recoveries

Estimated 

Additional 

Recoveries Estimated Losses

154 $3,317,099,253 $1,442,173,417 $11,630,356 $6,199,875 $0 $5,430,481 

1984 2 40,470,332 29,088,247 5,531,179 4,414,904 0 1,116,275 

1983 4 3,611,549 3,011,406 764,690 427,007 0 337,683 

1982 10 10,509,286 9,118,382 1,729,538 686,754 0 1,042,784 

1981 3 4,838,612 3,914,268 774,055 1,265 0 772,790 

1980 1 7,953,042 5,001,755 0 0 0 0 

1934-1979 4 1,490,254 549,299 0 0 0 0 

1 Institutions closed by the FDIC, including deposit payoff, insured deposit transfer, and deposit assumption cases.

2 For 1990 through 2005, amounts represent the sum of BIF and SAIF failures (excluding those handled by the RTC); prior to 1990, figures are 

only for the BIF. After 1995, all thrift closings became the responsibility of the FDIC and amounts are reflected in the SAIF. For 2006 to 2010, 

figures are for the DIF.

3 Assets and deposit data are based on the last Call Report or TFR filed before failure.

4 Includes amounts related to transaction account coverage under the Transaction Account Guarantee Program (TAG). The estimated losses as of 

12/31/10 for TAG accounts in 2010, 2009, and 2008 are $643 million, $1,689 million, and $16 million, respectively.

5 Includes institutions where assistance was provided under a systemic risk determination. Any costs that exceed the amounts estimated under 

the least cost resolution requirement would be recovered through a special assessment on all FDIC-insured institutions.
APPENDICES 151

FDIC Actions on Financial Institutions Applications 2008 – 2010

2010 2009 2008

Deposit Insurance 16 19 123

Approved1 16 19 123

Denied 0 0 0

New Branches 461 521 1,012

Approved 459 521 1,012

Denied 2 0 0

Mergers 182 190 275

Approved 182 190 275

Denied 0 0 0

Requests for Consent to Serve2 840 503 283

Approved 840 503 283

Section 19 10 20 8

Section 32 830 483 275

Denied 0 0 0

Section 19 0 0 0

Section 32 0 0 0

Notices of Change in Control 33 18 28

Letters of Intent Not to Disapprove 33 18 28

Disapproved 0 0 0

Brokered Deposit Waivers 67 35 38

Approved 66 34 38

Denied 1 1 0

Savings Association Activities3 31 39 45

Approved 31 39 45

Denied 0 0 0

State Bank Activities/Investments4 3 2 11

Approved 3 2 11

Denied 0 0 0

Conversion of Mutual Institutions 2 6 10

Non-Objection 2 6 10

Objection 0 0 0

1 Includes deposit insurance applications filed on behalf of: (1) newly organized institutions, (2) existing uninsured 

financial services companies seeking establishment as an insured institution, and (3) interim institutions established to 

facilitate merger or conversion transactions, and applications to facilitate the establishment of thrift holding companies.

2 Under Section 19 of the Federal Deposit Insurance (FDI) Act, an insured institution must receive FDIC approval 

before employing a person convicted of dishonesty or breach of trust. Under Section 32, the FDIC must approve 

any change of directors or senior executive officers at a state non-member bank that is not in compliance with capital 

requirements or is otherwise in troubled condition. 

3 Amendments to Part 303 of the FDIC Rules and Regulations changed FDIC oversight responsibility in October 1998. 

In 1998, Part 303 changed the Delegations of Authority to act upon applications. 

4 Section 24 of the FDI Act, in general, precludes a federally-insured state bank from engaging in an activity not 

permissible for a national bank and requires notices to be filed with the FDIC.
152 APPENDICES

Compliance, Enforcement, and Other Related Legal Actions 2008 – 2010

2010 2009 2008

Total Number of Actions Initiated by the FDIC 758 551 273

Termination of Insurance

Involuntary Termination

Sec. 8a For Violations, Unsafe/Unsound Practices 

or Conditions 0 0 0

Voluntary Termination

Sec. 8a By Order Upon Request 0 0 1

Sec. 8p No Deposits 4 4 2

Sec. 8q Deposits Assumed 1 2 1

Sec. 8b Cease-and-Desist Actions

Notices of Charges Issued1,2 1 3 1

Consent Orders 372 302 97

Sec. 8e Removal/Prohibition of Director or Officer

Notices of Intention to Remove/Prohibit 10 2 4

Consent Orders 111 64 62

Sec. 8g Suspension/Removal When Charged With Crime 0 0 0

Civil Money Penalties Issued

Sec. 7a Call Report Penalties 0 1 0

Sec. 8i Civil Money Penalties 212 154 98

Sec. 8i Civil Money Penalty Notices of Assessment 8 0 0

Sec. 10c Orders of Investigation 15 10 2

Sec. 19 Waiver Orders

Approved Section 19 Waiver Orders 24 12 2

Denied Section 19 Waiver Orders 0 0 0

Sec. 32 Notices Disapproving Officer/Director’s 

Request for Review 0 0 0

Truth-in-Lending Act Reimbursement Actions

Denials of Requests for Relief 0 0 1

Grants of Relief 0 0 0

Banks Making Reimbursement1 64 94 94

Suspicious Activity Reports (Open and closed institutions)1 126,098 128,973 133,153

Other Actions Not Listed 1 0 3

1 These actions do not constitute the initiation of a formal enforcement action and, therefore, are not included in the total number of 

actions initiated.

2 Correction for 2008.
APPENDICES 153

B. More About the FDIC

FDIC Board of Directors

Sheila C. Bair

Sheila C. Bair was sworn 

in as the 19th Chairman 

of the Federal Deposit 

Insurance Corporation 

(FDIC) on June 26, 

2006. She was appointed 

Chairman for a five-year term, and as a member of 

the FDIC Board of Directors through July 2013.

Chairman Bair has an extensive background in 

banking and finance in a career that has taken 

her from Capitol Hill, to academia, to the highest 

levels of government. Before joining the FDIC 

in 2006, she was the Dean’s Professor of Financial 

Regulatory Policy for the Isenberg School of 

Management at the University of MassachusettsAmherst since 2002. While there, she also 

served on the FDIC’s Advisory Committee on 

Banking Policy. 

Other career experience includes serving as 

Assistant Secretary for Financial Institutions at the 

U.S. Department of the Treasury (2001 to 2002), 

Senior Vice President for Government Relations 

of the New York Stock Exchange (1995 to 2000), 

a Commissioner and Acting Chairman of the 

Commodity Futures Trading Commission (1991 

to 1995), and Research Director, Deputy Counsel 

and Counsel to Senate Majority Leader Robert 

Dole (1981 to 1988). 

As FDIC Chairman, Ms. Bair has presided over a 

tumultuous period in the nation’s financial sector. 

Her innovations have transformed the agency 

with programs that provide temporary liquidity 

guarantees, increases in deposit insurance limits, 

and systematic loan modifications to troubled 

borrowers. Ms. Bair’s work at the FDIC has also 

focused on consumer protection and economic 

inclusion. She has championed the first survey of 

the unbanked by the U.S. Census, the creation of 

an Advisory Committee on Economic Inclusion, 

seminal research on small-dollar loan programs, 

and the formation of broad-based alliances in nine 

regional markets to bring underserved populations 

into the financial mainstream. 

Ms. Bair has served as a member of several 

professional and nonprofit organizations, 

including the Insurance Marketplace Standards 

Association, Women in Housing and Finance, 

Center for Responsible Lending, NASD Aheadof-the-Curve Advisory Committee, Massachusetts 

Savings Makes Cents, American Bar Association, 

Exchequer Club, and Society of Children’s Book 

Writers and Illustrators.

Chairman Bair topped The Wall Street Journal’s 

annual 50 “Women to Watch List” for 2008. In 

2008 and 2009, Forbes Magazine named Ms. Bair 

as the world’s second most powerful woman after 

Germany’s Chancellor Angela Merkel.

Chairman Bair has also received several honors for 

her published work on financial issues, including 

her educational writings on money and finance 

for children, and for professional achievement. 

Among the honors she has received are: 

Distinguished Achievement Award, Association 

of Education Publishers (2005); Personal Service 

Feature of the Year, and Author of the Month 

Awards, Highlights Magazine for Children (2002, 

2003 and 2004); and The Treasury Medal (2002). 

Her first children’s book – Rock, Brock, and the 

Savings Shock, was published in 2006 and her 

second, Isabel’s Car Wash, in 2008.

Chairman Bair received a bachelor’s degree from 

the University of Kansas and a J.D. from the 

University of Kansas School of Law. She is married 

to Scott P. Cooper and has two children.
154 APPENDICES

Martin J. 

Gruenberg 

Martin J. Gruenberg was 

sworn in as Vice Chairman 

of the FDIC Board of 

Directors on August 22, 

2005. Upon the resignation 

of Chairman Donald Powell, he served as Acting 

Chairman from November 15, 2005, to June 26, 

2006. On November 2, 2007, Mr. Gruenberg 

was named Chairman of the Executive Council 

and President of the International Association of 

Deposit Insurers (IADI).

Mr. Gruenberg joined the FDIC Board after 

broad congressional experience in the financial 

services and regulatory areas. He served as 

Senior Counsel to Senator Paul S. Sarbanes 

(D-MD) on the staff of the Senate Committee 

on Banking, Housing, and Urban Affairs from 

1993 to 2005. Mr. Gruenberg advised the 

Senator on issues of domestic and international 

financial regulation, monetary policy and trade. 

He also served as Staff Director of the Banking 

Committee’s Subcommittee on International 

Finance and Monetary Policy from 1987 to 

1992. Major legislation in which Mr. Gruenberg 

played an active role during his service on the 

Committee includes the Financial Institutions 

Reform, Recovery, and Enforcement Act of 

1989 (FIRREA), the Federal Deposit Insurance 

Corporation Improvement Act of 1991 

(FDICIA), the Gramm-Leach-Bliley Act, and the 

Sarbanes-Oxley Act of 2002.

Mr. Gruenberg holds a J.D. from Case Western 

Reserve Law School and an A.B. from Princeton 

University, Woodrow Wilson School of Public and 

International Affairs.

Thomas J. Curry 

Thomas J. Curry took 

office on January 12, 

2004, as a member of the 

Board of Directors of the 

Federal Deposit Insurance 

Corporation for a six-year 

term. Mr. Curry serves as Chairman of the 

FDIC’s Assessment Appeals Committee and Case 

Review Committee.

Mr. Curry also serves as the Chairman of the 

NeighborWorks® America Board of Directors. 

NeighborWorks® America is a national nonprofit organization chartered by Congress to 

provide financial support, technical assistance, 

and training for community-based neighborhood 

revitalization efforts.

Prior to joining the FDIC’s Board of Directors, 

Mr. Curry served five Massachusetts Governors 

as the Commonwealth’s Commissioner of Banks 

from 1990 to 1991 and from 1995 to 2003. He 

served as Acting Commissioner from February 

1994 to June 1995. He previously served as First 

Deputy Commissioner and Assistant General 

Counsel within the Massachusetts Division of 

Banks. He entered state government in 1982 as 

an attorney with the Massachusetts’ Secretary of 

State’s Office.

Director Curry served as the Chairman of the 

Conference of State Bank Supervisors from 2000 

to 2001. He served two terms on the State Liaison 

Committee of the Federal Financial Institutions 

Examination Council, including a term as 

Committee chairman.

He is a graduate of Manhattan College (summa 

cum laude), where he was elected to Phi Beta 

Kappa. He received his law degree from the New 

England School of Law. 
APPENDICES 155

John E. Bowman 

John E. Bowman became 

Acting Director of the 

Office of Thrift Supervision 

(OTS) in March 2009. Mr. 

Bowman joined the OTS in 

June of 1999 as Deputy 

Chief Counsel for Business Transactions. In May 

2004, he was appointed Chief Counsel and in 

April 2007, he was appointed Deputy Director 

and Chief Counsel. Before joining the OTS, Mr. 

Bowman was a partner with the law firm of Brown 

& Wood LLP in its Washington, DC, office, 

where he specialized in government and corporate 

finance, securities and financial services regulation.

Before entering private practice, Mr. Bowman 

served for many years as Assistant General 

Counsel for Banking and Finance at the U.S. 

Department of the Treasury. While at Treasury, 

he provided counsel to the Treasury Under 

Secretary for Domestic Finance, the Assistant 

Secretaries for Financial Institutions Policy, 

Financial Markets and Economic Policy, and 

the Fiscal Assistant Secretary on a broad range 

of issues from financial services legislation to the 

financing of the federal debt.

During his government career, Mr. Bowman 

has been the recipient of numerous awards and 

honors, including the Presidential Rank Award 

and the Secretary of the Treasury’s Distinguished 

Service Award.

John Walsh 

John Walsh became Acting 

Comptroller of the Office 

of the Comptroller of the 

Currency (OCC) on August 

15, 2010, succeeding John 

C. Dugan. He also serves 

on the FDIC Board of Directors and as a board 

member of NeighborWorks® America. Mr. Walsh 

joined the OCC in October 2005 and previously 

served as Chief of Staff and Public Affairs.

Prior to joining the OCC, Mr. Walsh was the 

Executive Director of the Group of Thirty, a 

consultative group that focuses on international 

economic and monetary affairs. He joined the 

Group in 1992, and became Executive Director 

in 1995. Mr. Walsh served on the Senate Banking 

Committee from 1986 to 1992 and as an 

international economist for the U.S. Department 

of the Treasury from 1984 to 1986. Mr. Walsh 

also served with the Office of Management and 

Budget as an international program analyst, with 

the Mutual Broadcasting System, and in the U.S. 

Peace Corps in Ghana.

Mr. Walsh holds a masters’ degree in public 

policy from the Kennedy School of Government, 

Harvard University (1978), and graduated magna 

cum laude from the University of Notre Dame in 

1973. He lives in Catonsville, Maryland, and is 

married with four children.
156 APPENDICES

FDIC Organization Chart/Officials

As of December 31, 2010

Sheila C. Bair

Martin J. Gruenberg

Thomas J. Curry

John E. Bowman

John Walsh

BOARD OF DIRECTORS

Sheila C. Bair

Chairman

OFFICE OF THE CHAIRMAN

Martin J. Gruenberg

VICE CHAIRMAN

Jesse O. Villarreal, Jr.

CHIEF OF STAFF

Michael H. Krimminger

DEPUTY TO THE CHAIRMAN

FOR RESOLUTION AND LEGAL POLICY

Russell G. Pittman

CHIEF INFORMATION OFFICER/

CHIEF PRIVACY OFFICER

Andrew S. Gray

Director

OFFICE OF PUBLIC AFFAIRS

Jason C. Cave

DEPUTY TO THE CHAIRMAN

Jon T. Rymer

Inspector General

OFFICE OF INSPECTOR GENERAL

Steven O. App

DEPUTY TO THE

CHAIRMAN AND

CHIEFFINANCIAL OFFICER

Craig R. Jarvill

Acting Director

DIVISION OF FINANCE

Vacant

Director

OFFICE OF

LEGISLATIVE AFFAIRS

Thom H. Terwilliger

Chief Learning Officer

CORPORATE

UNIVERSITY

Michael H. Krimminger

Acting General Counsel

LEGAL DIVISION

Arleas Upton Kea

Director

DIVISION

OF ADMINISTRATION

Cottrell L. Webster

Ombudsman

OFFICE OF THE

OMBUDSMAN

James H. Angel, Jr.

Director

OFFICE OF ENTERPRISE

RISK MANAGEMENT

Russell G. Pittman

Director

DIVISION OF

INFORMATION

TECHNOLOGY

D. Michael Collins

Director

OFFICE OF DIVERSITY

AND ECONOMIC

OPPORTUNITY

Sandra L. Thompson

Director

DIVISION OF

SUPERVISION AND

CONSUMER PROTECTION

Arthur J. Murton

Director

DIVISION OF

INSURANCE AND

RESEARCH

Bret D. Edwards

Acting Director

DIVISION OF

RESOLUTIONS AND

RECEIVERSHIPS

Fred S. Carns

Director

OFFICE OF

INTERNATIONAL

AFFAIRS

Michael H. Krimminger

ACTING 

GENERAL COUNSEL

Paul M. Nash

DEPUTY TO THE

CHAIRMAN

FOR EXTERNAL AFFAIRS

James Wigand

Director

OFFICE OF

COMPLEX FINANCIAL

INSTITUTIONS

Mark Pearce

Director

DIVISION OF DEPOSITOR

AND CONSUMER

PROTECTION
APPENDICES 157

STAFFING TRENDS 2001 – 2010

2001 2002 2003 0

3,000

6,000

9,000

2004 2005 2006 2007 2008 2009 2010

FDIC YearEnd Staffing 6,167 5,430 5,311 5,078 4,514 4,476 4,532 4,988 6,557 8,150

Corporate Staffing

Note: 2008-2010 staffing totals reflect year-end full time equivalent staff. Prior to 2008, staffing 

totals reflect total employees on board.
158 APPENDICES

Division of Supervision and Consumer Protection2

Division of Resolutions and Receiverships3

Legal Division 

Division of Administration 

Division of Information Technology 

Corporate University 

Division of Insurance and Research 

Division of Finance 

Office of Inspector General 

Executive Offices4

Office of the Ombudsman

Office of Diversity and Economic Opportunity

Office of Enterprise Risk Management 

Total

Total Washington Regional/Field

2010 2009 2010 2009 2010 2009

3,649 3,168 379 222 3,270 2,946

2,110 1,158 155 78 1,955 1,080

805 625 352 302 453 323

430 373 265 217 165 156

328 298 245 227 83 71

207 350 199 52 8 298

203 193 173 150 30 43

165 155 165 145 0 10

128 120 92 84 36 36

55 53 55 53 0 0

31 22 12 11 19 11

26 29 26 29 0 0

13 13 13 13 0 0

8,150 6,557 2,131 1,584 6,019 4,973

Number of Employees by Division/Office 2009 – 2010 

(Year-End)1

1 The FDIC reports staffing totals using a full-time equivalent methodology, which is based on an employee’s scheduled work hours. Totals 

may not foot due to rounding.

2 The Division of Supervision and Consumer Protection staffing count includes one staff member hired to lead the newly created Division of 

Depositor and Consumer Protection (DCP). DCP was not fully recognized as a separate division until January 1, 2011. 

3 The Division of Resolutions and Receiverships staffing count includes one staff member hired to lead the newly created Office of Complex 

Financial Institutions (OCFI). OCFI was not fully recognized as a separate division until January 1, 2011.

4 Includes the Offices of the Chairman, Vice Chairman, Director (Appointive), Chief Operating Officer, Chief Financial Officer, Chief 

Information Officer, Legislative Affairs, Public Affairs, International Affairs and External Affairs.
APPENDICES 159

Sources of Information

FDIC Website

www.fdic.gov

A wide range of banking, consumer and financial 

information is available on the FDIC’s website. This 

includes the FDIC’s Electronic Deposit Insurance 

Estimator (EDIE), which estimates an individual’s 

deposit insurance coverage; the Institution Directory 

– financial profiles of FDIC-insured institutions; 

Community Reinvestment Act evaluations and 

ratings for institutions supervised by the FDIC; Call 

Reports – banks’ reports of condition and income; 

and Money Smart, a training program to help 

individuals outside the financial mainstream enhance 

their money management skills and create positive 

banking relationships. Readers also can access a 

variety of consumer pamphlets, FDIC press releases, 

speeches, and other updates on the agency’s activities, 

as well as corporate databases and customized reports 

of FDIC and banking industry information.

FDIC Call Center

PHONE: 877-275-3342 (877-ASK-FDIC) 

703-562-2222

HEARING

IMPAIRED: 800-925-4618

703-562-2289

The FDIC Call Center in Washington, DC, is 

the primary telephone point of contact for general 

questions from the banking community, the public 

and FDIC employees. The Call Center directly, or 

in concert with other FDIC subject-matter experts, 

responds to questions about deposit insurance and 

other consumer issues and concerns, as well as 

questions about FDIC programs and activities. The 

Call Center also makes referrals to other federal 

and state agencies as needed. Hours of operation 

are 8:00 a.m. to 8:00 p.m., Eastern Time, Monday 

– Friday and 9:00 a.m. to 5:00 p.m., Saturday 

– Sunday. Recorded information about deposit 

insurance and other topics is available 24 hours a 

day at the same telephone number.

As a customer service, the FDIC Call Center has 

many bilingual Spanish agents on staff and has 

access to a translation service able to assist with 

over 40 different languages.

Public Information Center 

3501 Fairfax Drive

Room E-1021

Arlington, VA 22226

PHONE: 877-275-3342 (877-ASK-FDIC), 

703-562-2200

FAX: 703-562-2296

FDIC ONLINE CATALOG:

 https://vcart.velocitypayment.com/

fdic/

E-MAIL: publicinfo@fdic.gov

Publications such as FDIC Quarterly, Consumer 

News and a variety of deposit insurance and 

consumer pamphlets are available at www.fdic.

gov or may be ordered in hard copy through the 

FDIC online catalog. Other information, press 

releases, speeches and congressional testimony, 

directives to financial institutions, policy manuals, 

and FDIC documents are available on request 

through the Public Information Center. Hours 

of operation are 9:00 a.m. to 4:00 p.m., Eastern 

Time, Monday – Friday.

Office of the Ombudsman

3501 Fairfax Drive

Room E-2022

Arlington, VA 22226

PHONE: 877-275-3342 (877-ASK-FDIC)

FAX: 703-562-6057

E-MAIL: ombudsman@fdic.gov

The Office of the Ombudsman (OO) is an 

independent, neutral, and confidential resource 

and liaison for the banking industry and the 

general public. The OO responds to inquiries 

about the FDIC in a fair, impartial, and timely 

manner. It researches questions and fields 

complaints from bankers and bank customers. 

OO representatives are present at all bank 

closings to provide accurate information to bank 

customers, the media, bank employees, and the 

general public. The OO also recommends ways 

to improve FDIC operations, regulations, and 

customer service.
160 APPENDICES

Regional and Area Offices

ATLANTA REGIONAL OFFICE

10 Tenth Street, NE

Suite 800

Atlanta, Georgia 30309

(678) 916-2200

Alabama

Florida

Georgia

North Carolina

South Carolina

Virginia

West Virginia

CHICAGO REGIONAL OFFICE

300 South Riverside Plaza

Suite 1700

Chicago, Illinois 60606

(312) 382-6000 

Illinois

Indiana

Kentucky

Michigan

Ohio

Wisconsin

DALLAS REGIONAL OFFICE

1601 Bryan Street

Dallas, Texas 75201

(214) 754-0098

Colorado

New Mexico

Oklahoma

Texas

MEMPHIS AREA OFFICE

5100 Poplar Avenue

Suite 1900

Memphis, Tennessee 38137

(901) 685-1603

Arkansas

Louisiana

Mississippi

Tennessee

KANSAS CITY REGIONAL OFFICE

1100 Walnut Street

Suite 2100

Kansas City, Missouri 64106

(816) 234-8000

Iowa

Kansas

Minnesota

Missouri

Nebraska

North Dakota

South Dakota
APPENDICES 161

NEW YORK REGIONAL OFFICE

350 Fifth Avenue

Suite 1200

New York, New York 10118

(917) 320-2500

Delaware

District of Columbia

Maryland

New Jersey

New York

Pennsylvania

Puerto Rico

Virgin Islands

BOSTON AREA OFFICE

15 Braintree Hill Office Park

Suite 100

Braintree, Massachusetts 02184

(781) 794-5500

Connecticut

Maine

Massachusetts

New Hampshire

Rhode Island

Vermont

SAN FRANCISCO REGIONAL OFFICE

25 Jessie Street at Ecker Square

Suite 2300

San Francisco, California 94105

(415) 546-0160

Alaska

Arizona

California

Guam

Hawaii

Idaho

Montana

Nevada

Oregon

Utah

Washington

Wyoming
162 APPENDICES

C. Office of Inspector General’s Assessment of the 

Management and Performance Challenges Facing the FDIC

Under the Reports Consolidation Act of 2000, 

the Office of Inspector General (OIG) is required 

to identify the most significant management and 

performance challenges facing the Corporation 

and provide its assessment to the Corporation 

for inclusion in its annual performance and 

accountability report. The OIG conducts this 

assessment annually and identifies specific areas 

of challenge facing the Corporation at the time. 

In identifying the challenges, we keep in mind 

the Corporation’s overall program and operational 

responsibilities; financial industry, economic, 

and technological conditions and trends; areas of 

congressional interest and concern; relevant laws 

and regulations; the Chairman’s priorities and 

corresponding corporate goals; and the ongoing 

activities to address the issues involved. Taking 

time to reexamine the corporate mission and 

priorities as the OIG identifies the challenges 

helps in planning assignments and directing OIG 

resources to key areas of risk.

A significant milestone that will impact multiple 

facets of the FDIC’s programs and operations 

was the enactment of the Dodd-Frank Wall 

Street Reform and Consumer Protection Act 

(Dodd-Frank Act) on July 21, 2010. The stated 

aim of the Dodd-Frank Act is “To promote 

the financial stability of the United States by 

improving accountability and transparency in the 

financial system, to end ‘too big to fail,’ to protect 

the American taxpayer by ending bailouts, to 

protect consumers from abusive financial services 

practices, and for other purposes”.

In looking at the recent past and the current 

environment and anticipating—to the extent 

possible—what the future holds, the OIG believes 

that the FDIC faces challenges in the areas listed 

below. While the Corporation will sustain its 

efforts to restore and maintain public confidence 

and stability, particularly as it implements key 

provisions of the Dodd-Frank Act, challenges will 

persist in other areas as well. We note in particular 

that the Corporation is devoting significant 

additional resources to carrying out its massive 

resolution and receivership workload, brought on 

by 140 financial institution failures during 2009 

and an additional 157 during 2010. At the same 

time, the FDIC will face continuing challenges 

in meeting its deposit insurance responsibilities, 

enhancing its supervision of financial institutions, 

protecting consumers, and managing its expanded 

internal workforce and other corporate resources.

The Corporation can take pride in having 

made great efforts to maintain stability and 

confidence in the nation’s banking system: 

completing or sustaining a number of new 

initiatives, responding to new demands, and 

playing a key part in shaping the future of bank 

regulation over the past year. Passage of the 

Dodd-Frank Act presents new opportunities and 

challenges for the FDIC to continue its efforts in 

restoring the vitality and stability of the financial 

system over the coming months.

Restoring and Maintaining Public 

Confidence and Stability in the 

Financial System

With signs of recovery in the economy and the 

financial services industry, the FDIC and other 

regulators have turned a corner, but much work 

remains. Institutions continue to fail, and the 

economy is still stressed. Public confidence has 

been shaken and still needs to be bolstered. 

Reforms under the Dodd-Frank Act involve 

far-reaching changes designed to restore market 

discipline, internalize the costs of risk-taking, 

protect consumers, and make the regulatory 

process more attuned to systemic risks. The FDIC 

will have significant involvement in this regard 

during the upcoming year.

The Dodd-Frank Act created the Financial 

Stability Oversight Council (FSOC), of which 

the FDIC is a voting member. The FSOC 

will monitor sources of systemic risk and 

promulgate rules that will be implemented by 

the various financial regulators represented on 

the FSOC. In most instances, the FSOC will 

reach decisions based on a simple majority of 
APPENDICES 163

the FSOC’s 10 voting members. In certain 

circumstances, however, a supermajority of seven 

votes will be required, one of which must be cast 

by the Secretary of the Treasury. The Dodd-Frank 

Act also establishes an independent Consumer 

Financial Protection Bureau (CFPB) within the 

Federal Reserve System; abolishes the Office 

of Thrift Supervision (OTS) and transfers its 

supervisory responsibilities for federal and statechartered thrift institutions and thrift holding 

companies to the Office of the Comptroller of 

the Currency (OCC), the FDIC, and the Federal 

Reserve System, respectively; and gives the FDIC 

new authorities to help address the risks in 

systemically important financial companies.

So that the FDIC can best carry out its 

responsibilities under the Dodd-Frank Act, 

the Board of Directors approved a number of 

internal organizational changes, establishing a 

new Office of Complex Financial Institutions 

(OCFI) and a new Division of Depositor and 

Consumer Protection (DCP). In connection 

with these changes, the Division of Supervision 

and Consumer Protection (DSC) has been 

renamed the Division of Risk Management 

Supervision (RMS). New leadership impacting 

these organizations was announced, effective 

December 31, 2010, and those named to 

lead them will face challenges in establishing 

policies, procedures, and practices to guide their 

new efforts.

Taken together, and along with lessons learned 

from the past several years, these changes to 

the FDIC’s responsibilities and organizational 

structure should go a long way toward restoring 

confidence and public trust in the nation’s 

financial system. The coming months will be 

challenging for the FDIC and all of the regulatory 

agencies as they work collaboratively to reposition 

themselves to carry out the mandates of the DoddFrank Act, writing rules to implement key sections 

and undertaking their new responsibilities.

Assuming New Resolution Authority, 

Resolving Failed Institutions, and 

Managing Receiverships

Perhaps the most fundamental reform under the 

Dodd-Frank Act is the new resolution authority 

for large bank holding companies and systemically 

important nonbank financial companies. The 

FDIC has historically carried out a prompt and 

orderly resolution process under its receivership 

authority for insured banks and thrifts. The 

Dodd-Frank Act now gives the FDIC a similar 

set of receivership powers to liquidate failed 

systemically important financial firms.

A new challenge associated with this responsibility 

includes determining how to handle the claims 

process under this new authority. The FDIC has 

proposed a rule to ensure that all creditors—

shareholders and holders of subordinated, 

unsecured, and secured debt—know they are at 

risk of loss in a failure. This proposed rule is an 

important step in implementing the resolution 

authority under the Dodd-Frank Act and ending 

“Too Big to Fail.”

Another challenging key step will be to develop 

requirements for the resolution plans that all 

systemically important financial companies now 

have to establish. These resolution plans are 

essentially blueprints for the orderly unwinding 

of these companies should they run into serious 

problems. Under the Dodd-Frank Act, the FDIC 

and the Federal Reserve can exercise considerable 

authority to shape the content of these plans in 

the interest of ensuring that they are an effective 

means to guide the resolution of these companies.

In addition to the future challenges associated 

with exercising this new resolution authority, the 

Corporation is currently dealing with a daunting 

resolution and receivership workload. Onehundred-forty institutions failed during 2009, 

with total assets, based upon last call reports filed, 

of $171.2 billion and total estimated losses to the 

Deposit Insurance Fund (DIF) of approximately 

$37.1 billion. By year-end 2009, the number 

of institutions on the FDIC’s “Problem List” 

also rose to its highest level in 16 years. During 

2010, an additional 157 institutions failed, 
164 APPENDICES

and there were 884 insured institutions on the 

“Problem List” at the end of the year, indicating 

a probability of more failures to come and an 

increased asset disposition workload. Total assets 

of problem institutions decreased to $390.0 

billion as of year-end 2010. 

Franchise marketing activities are at the heart 

of the FDIC’s resolution and receivership work. 

The FDIC pursues the least costly resolution to 

the DIF for each failing institution. Each failing 

institution is subject to the FDIC’s franchise 

marketing process, which includes valuation, 

marketing, bidding and bid evaluation, and 

sale components. The FDIC is often able to 

market institutions such that all deposits, not 

just insured deposits, are purchased by the 

acquiring institution, thus avoiding losses to 

uninsured depositors.

Of special note, through purchase and assumption 

(P&A) agreements with acquiring institutions, 

the Corporation has entered into 223 loss-share 

agreements covering $193 billion in assets (at 

inception). Under these agreements, the FDIC 

agrees to absorb a portion of the loss—generally 

80-95 percent—which may be experienced by 

the acquiring institution with regard to those 

assets, for a period of up to 10 years. In addition, 

the FDIC has entered into a series of structured 

asset sales to dispose of assets with an unpaid 

principal balance of $22.5 billion (at inception). 

Under these arrangements, the FDIC retains a 

participation interest in future net positive cash 

flows derived from third-party management of 

these assets.

Other post-closing asset management activities 

will continue to require much FDIC attention. 

FDIC receiverships manage assets from failed 

institutions, mostly those that are not purchased 

by acquiring institutions through P&A 

agreements or involved in structured sales. The 

FDIC is managing 344 receiverships holding 

about $27.0 billion in assets, mostly securities, 

delinquent commercial real-estate and singlefamily loans, and participation loans. Post-closing 

asset managers are responsible for managing 

many of these assets and rely on receivership 

assistance contractors to perform day-to-day asset 

management functions. Since these loans are often 

sub-performing or nonperforming, workout and 

asset disposition efforts are more intensive.

The FDIC has increased its permanent 

resolution and receivership staffing and has 

significantly increased its reliance on contractor 

and term employees to fulfill the critical 

resolution and receivership responsibilities 

associated with the ongoing FDIC interest in the 

assets of failed financial institutions. At the end 

of 2008, on-board resolution and receivership 

staff totaled 491, while on-board staffing at the 

end of 2010 was 2,118. As of year-end 2010, 

the FDIC also had about 1,900 active contracts 

valued at $4.5 billion; approximately 1,700 of 

these were related to the receivership function and 

accounted for approximately $3.5 billion of the 

total value. 

The significant surge in failed-bank assets and 

associated contracting activities requires effective 

and efficient contractor oversight management 

and technical monitoring functions. Bringing 

on so many contractors and new employees in 

a short period of time can strain personnel and 

administrative resources in such areas as employee 

background checks, which, if not timely and 

properly executed, can compromise the integrity 

of FDIC programs and operations.

As the Corporation’s workforce responds to 

institution failures and carries out all of the 

resolution and receivership responsibilities 

outlined above, it will face a number of challenges. 

To summarize, first and foremost, it needs to 

ensure that it develops and implements strong and 

effective controls to mitigate the risks involved 

in all of its business dealings with acquirers, 

contractors, and other third parties. It also needs 

to ensure that related processes, negotiations, and 

decisions regarding the future status of the failed 

or failing institutions are marked by fairness, 

transparency, and integrity. Marketing failing 

institutions to qualified and interested potential 

bidders, selling assets, and maximizing potential 

values of failed bank franchises will continue to 

challenge FDIC staff. Over time, these tasks may 
APPENDICES 165

be even more difficult, given concentrations of 

assets in the same geographic area, a decreasing 

pool of interested buyers, and an inventory of less 

attractive, hard-to-sell assets. It is also possible that 

individuals or entities that may have been involved 

in previous institution failures or activities 

contributing to losses to the insurance fund 

could try to reenter the FDIC’s asset purchase 

and management arena. Appropriate safeguards 

must be in place to ensure that the Corporation 

knows the backgrounds of its bidders to prevent 

those parties from profiting at the expense of 

the Corporation. Finally, in order to minimize 

costs, it is important to terminate in a timely 

manner those receiverships not subject to lossshare agreements, structured sales, or other legal 

impediments.

Ensuring and Maintaining the Viability of 

the Deposit Insurance Fund

As of December 31, 2010, there were 7,657 

FDIC-insured banking institutions with FDICestimated insured deposits of $6.2 trillion. A 

critical priority for the FDIC is to ensure that the 

DIF remains viable to protect insured depositors 

in the event of an institution’s failure. The DIF has 

suffered from the failures of the past several years. 

Losses from failures in 2008 and 2009 totaled 

$19.6 billion and $37.1 billion, respectively. 

As of year-end, 2010, failures during 2010 had 

caused losses of approximately $24.2 billion. In 

September 2009, the DIF’s fund balance—or net 

worth—fell below zero for the first time since the 

third quarter of 1992. Although the balance of the 

DIF declined by $38.1 billion during 2009 and 

totaled negative $7.4 billion as of December 31, 

2010, the DIF’s liquidity was enhanced during 

the fourth quarter of 2009 by 3 years of prepaid 

assessments and the DIF has been well positioned 

to fund resolution activity in 2010 and beyond. 

To maintain a sufficient fund balance, the FDIC 

collects risk-based insurance premiums from 

insured institutions and invests DIF funds.

The FDIC Board of Directors recently voted 

in December 2010 to set the DIF’s designated 

reserve ratio at 2 percent of estimated insured 

deposits. The Dodd-Frank Act set a minimum 

designated reserve ratio of 1.35 percent, and 

left unchanged the requirement that the FDIC 

Board set a designated reserve ratio annually. The 

Board sets the reserve ratio according to risk of 

loss to the DIF, economic conditions affecting the 

banking industry, preventing sharp swings in the 

assessment rates, and any other factors it deems 

important. The decision to set the designated 

reserve ratio at 2 percent was based on a historical 

analysis of losses to the DIF. The analysis showed 

that in order to maintain a positive fund balance 

and steady, predictable assessment rates, the 

reserve ratio should be at least 2 percent as a longterm, minimum goal.

The final rule for the reserve ratio is part of 

a comprehensive fund management plan 

proposed by the Board in October 2010. The 

plan is intended to provide insured institutions 

with moderate, steady assessment rates 

throughout economic cycles, and to maintain a 

positive fund balance even during severe economic 

times. The Board acted on other aspects of the 

comprehensive plan—assessments, dividends, 

assessment base, and large bank pricing—during 

the first quarter of 2011.

Importantly, with respect to the largest institutions 

and any potential negative impact of their 

failure on the fund, Title II of the Dodd-Frank 

Act helps to address the notion of “Too Big to 

Fail.” The largest institutions will be subjected 

to the same type of market discipline facing 

smaller institutions. Title II provides the FDIC 

authority to wind down systemically important 

bank holding companies and nonbank financial 

companies as a companion to the FDIC’s 

existing authority to resolve insured depository 

institutions. As noted earlier, the FDIC’s new 

Office of Complex Financial Institutions will play 

a key role in overseeing these new functions.

Ensuring Institution Safety and Soundness 

Through an Effective Examination and 

Supervision Program

The Corporation’s supervision program promotes 

the safety and soundness of FDIC-supervised 

insured depository institutions. The FDIC is 

the primary federal regulator for approximately 

4,700 FDIC-insured, state-chartered institutions 
166 APPENDICES

that are not members of the Federal Reserve 

System—often referred to as “state non-member” 

institutions. The OCC, OTS, and Federal Reserve 

supervise other banks and thrifts, depending on 

the institution’s charter. (Note that the institutions 

under the OTS’s purview will be transferred to 

the other regulators when the OTS is abolished 

pursuant to the Dodd-Frank Act, as referenced 

previously.) As insurer, the Corporation also has 

backup examination authority to protect the 

interests of the DIF for about 2,800 national 

banks, state-chartered banks that are members 

of the Federal Reserve System, and savings 

associations.

In the current environment, efforts to continue 

to ensure safety and soundness and to carry out 

the examination function will be challenging in 

a number of ways. Of particular importance for 

2011 is that the Corporation needs to continue to 

assess the implications of the recent financial and 

economic crisis and to integrate lessons learned 

and any needed changes to the examination 

program into the supervisory process. At the same 

time, it needs to continue to conduct scheduled 

examinations to ensure the safety and soundness 

of the thousands of institutions that it regulates.

The Corporation has developed a comprehensive 

“forward-looking supervision” training program 

and will need to continue to put that training 

into practice going forward. This approach 

involves carefully assessing the institution’s overall 

risks, and basing ratings not on current financial 

condition alone, but rather on consideration 

of possible future risks. These risks should be 

identified by rigorous and effective on-site and offsite review mechanisms and accurate metrics that 

identify risks embedded in the balance sheets and 

operations of the insured depository institutions 

so that steps can be taken to mitigate their impact 

on the institutions.

In all cases, examiners need to continue to bring 

any identified problems to the bank’s board’s 

and management’s attention, assign appropriate 

ratings, and make actionable recommendations 

to address areas of concern. Subsequently, the 

FDIC’s corrective action and follow-up processes 

must be effective to ensure that institutions 

are acting on recommendations and promptly 

complying with any supervisory enforcement 

actions—informal or formal—resulting from the 

FDIC’s risk-management examination process. 

In some cases, to maintain the integrity of the 

banking system, the Corporation will also need to 

aggressively pursue prompt actions against bank 

boards of directors or senior officers who may have 

contributed to an institution’s failure.

The rapid changes in the banking industry, 

increase in electronic and online banking, growing 

sophistication of fraud schemes, and the mere 

complexity of financial transactions and financial 

instruments all create potential risks at FDICinsured institutions and their service providers. 

These risks can negatively impact the FDIC and 

the integrity of the U.S. financial system and 

contribute to institution failures if existing checks 

and balances falter or are intentionally bypassed. 

The FDIC must seek to minimize the extent to 

which the institutions it supervises are involved in 

or victims of financial crimes and other abuses. It 

needs to continue to focus on Bank Secrecy Act 

examinations to prevent banks and other financial 

service providers from being used as intermediaries 

for, or to hide the transfer or deposit of money 

derived from, criminal activity. FDIC examiners 

need to be alert to the possibility of other 

fraudulent activity in financial institutions and 

make full use of reports, information, and other 

resources available to them to help detect 

such fraud.

With the passage of the Dodd-Frank Act, 

the coming months will bring significant 

organizational changes to the FDIC’s current 

supervision program, as well as corresponding 

challenges. As referenced earlier, the FDIC 

Board of Directors approved the establishment 

of the OCFI and DCP. In conjunction with 

these changes, DSC has been renamed RMS, 

and its mandate will be focused on supervision 

rather than consumer protection, the function 

of which is being transferred to DCP. OCFI has 

begun operations and will focus on overseeing 

bank holding companies with more than 

$100 billion in assets and their corresponding 
APPENDICES 167

insured depository institutions. OCFI will also 

be responsible for nonbank financial companies 

designated as systemically important by the 

FSOC. OCFI and RMS will coordinate closely 

on all supervisory activities for state non-member 

institutions that exceed $100 billion in assets; 

RMS will be responsible for the overall Large 

Insured Depository Institution program.

Protecting and Educating Consumers and 

Ensuring an Effective Compliance Program

The FDIC’s efforts to ensure that banks serve 

their communities and treat consumers fairly 

continue to be a priority. The FDIC carries out its 

consumer protection role by educating consumers, 

providing them with access to information about 

their rights and disclosures that are required 

by federal laws and regulations, and examining 

the banks where the FDIC is the primary 

federal regulator to determine the institutions’ 

compliance with laws and regulations governing 

consumer protection, unfair or deceptive acts 

and practices, fair lending, and community 

investment. The FDIC’s compliance program, 

including examinations, visitations, and followup supervisory attention on violations and other 

program deficiencies, is critical to ensuring that 

consumers and businesses obtain the benefits and 

protections afforded them by law. Proactively 

identifying and assessing potential risks associated 

with new and existing consumer products will 

continue to challenge the FDIC. As a further 

means of remaining responsive to consumers, the 

FDIC’s Consumer Response Center investigates 

consumer complaints about FDIC-supervised 

institutions and responds to inquiries from the 

public about consumer laws and regulations, 

consumer products, and banking practices.

Going forward, the FDIC will be experiencing 

and implementing changes related to the DoddFrank Act that have direct bearing on consumer 

protection. The Dodd-Frank Act establishes 

a new Consumer Financial Protection Bureau 

within the Federal Reserve and transfers to this 

bureau the FDIC’s examination and enforcement 

responsibilities over most federal consumer 

financial laws for insured depository institutions 

with over $10 billion in assets and their insured 

depository institution affiliates. However, even 

for these large organizations, the FDIC will have 

backup authority to enforce federal consumer 

laws and address violations. Under the DoddFrank Act, the FDIC will maintain compliance, 

examination, and enforcement responsibility for 

over 4,700 insured institutions with $10 billion or 

less in assets. As previously discussed, during early 

2011, the FDIC established DCP, responsible for 

the Corporation’s compliance examination and 

enforcement program, as well as the depositor 

protection and consumer and community affairs 

activities that support that program.

Effectively Managing the FDIC Workforce 

and Other Corporate Resources

The FDIC must effectively manage and utilize a 

number of critical strategic resources in order to 

carry out its mission successfully, particularly its 

human, financial, information technology, and 

physical resources. These resources have been 

stretched over the past year, and the Corporation 

will continue to face challenges during 2011.

Importantly, and as referenced earlier, in the 

coming months, as the Corporation responds to 

Dodd-Frank Act requirements and continues to 

pursue its long-standing mission in the face of 

lingering financial and economic turmoil, the 

resources of the entire FDIC will be challenged. 

For example, as required by the Dodd-Frank 

Act, the Corporation established an Office of 

Minority and Women Inclusion responsible 

for all agency matters relating to diversity in 

management, employment, and business activities. 

The Corporation has transferred its former Office 

of Diversity and Economic Opportunity staff 

to this new office. Other new responsibilities, 

reorganizations, and changes in senior leadership 

and in the makeup of the FDIC Board will 

greatly impact the FDIC workforce in the months 

ahead. Promoting sound governance and effective 

stewardship of its core business processes and 

human and physical resources will be key to the 

Corporation’s success.

Of particular note, FDIC staffing levels have 

increased dramatically. The Board approved an 

authorized 2011 staffing level of 9,252 employees, 
168 APPENDICES

up about 2.5 percent from the 2010 authorization 

of 9,029. Thirty-nine percent of the total 9,252 

authorized positions for 2011 are temporary 

positions. Temporary employees have been 

hired by the FDIC to assist with bank closings, 

management and sale of failed bank assets, and 

other activities that are expected to diminish 

substantially as the industry returns to more 

stable conditions. To that end, the FDIC opened 

three temporary satellite offices (East Coast, 

West Coast, and Midwest) for resolving failed 

financial institutions and managing the resulting 

receiverships.

The Corporation’s contracting level has also grown 

significantly, especially with respect to resolution 

and receivership work. Over $1.6 billion was 

available for contracting for receivership-related 

services during 2010. To support the increases in 

FDIC staff and contractor resources, the Board 

of Directors approved a $3.9 billion Corporate 

Operating Budget for 2011, down slightly 

from the 2010 budget the Board approved in 

December 2009. The FDIC’s operating expenses 

are paid from the DIF, and consistent with sound 

corporate governance principles, the Corporation’s 

financial management efforts must continuously 

seek to be efficient and cost-conscious.

Opening new offices, rapidly hiring and training 

many new employees, expanding contracting 

activity, and training those with contract oversight 

responsibilities are all placing heavy demands on 

the Corporation’s personnel and administrative 

staff and operations. When conditions improve 

throughout the industry and the economy, a 

number of employees will need to be released 

and staffing levels will move closer to a pre-crisis 

level, which may cause additional disruption 

to ongoing operations and current workplaces 

and working environments. Among other 

challenges, pre- and post-employment checks for 

employees and contractors will need to ensure the 

highest standards of ethical conduct, and for all 

employees, the Corporation will seek to sustain 

its emphasis on fostering employee engagement 

and morale.

From an information technology perspective, 

amidst the heightened activity in the industry 

and economy, the FDIC is engaging in massive 

amounts of information sharing, both internally 

and with external partners. FDIC systems 

contain voluminous amounts of critical data. 

The Corporation needs to ensure the integrity, 

availability, and appropriate confidentiality of 

bank data, personally identifiable information, 

and other sensitive information in an environment 

of increasingly sophisticated security threats 

and global connectivity. Continued attention 

to ensuring the physical security of all FDIC 

resources is also a priority. The FDIC needs 

to be sure that its emergency response plans 

provide for the safety and physical security of its 

personnel and ensure that its business continuity 

planning and disaster recovery capability keep 

critical business functions operational during any 

emergency.

The FDIC is led by a five-member Board of 

Directors, all of whom are appointed by the 

President and confirmed by the Senate, with no 

more than three being from the same political 

party. The FDIC has three internal directors—the 

Chairman, Vice Chairman, and one independent 

Director—and two ex officio directors, the 

Comptroller of the Currency and the Director of 

OTS. With the passage of the Dodd-Frank Act, 

the OTS will no longer exist and the Director of 

OTS will be replaced on the FDIC Board by the 

Director of the CFPB in mid-2011. The FDIC 

Chairman has announced her intention to leave 

the Corporation when her term expires—by the 

end of June 2011. Given the relatively frequent 

turnover on the Board, it is essential that strong 

and sustainable governance and communication 

processes be in place throughout the FDIC 

and that Board members possess and share the 

information needed at all times to understand 

existing and emerging risks and to make sound 

policy and management decisions.

Enterprise risk management is a key component of 

governance at the FDIC. The FDIC’s numerous 

enterprise risk management activities need to 

consistently identify, analyze, and mitigate 

operational risks on an integrated, corporate-
APPENDICES 169

wide basis. Additionally, such risks need to be 

communicated throughout the Corporation, 

and the relationship between internal and 

external risks and related risk mitigation activities 

should be understood by all involved. To further 

enhance risk monitoring efforts, the Corporation 

established six Program Management Offices to 

address risks associated with such activities as lossshare agreements, contracting oversight for new 

programs and resolution activities, the systemic 

resolution authority program, and human 

resource management concerns. Lessons from 

these areas need to be integrated into corporate 

thinking and decision-making. Additionally, 

the FDIC Chairman charged members of her 

senior staff with planning for and presenting 

a case to the Board for the establishment of a 

Chief Risk Officer at the FDIC to better ensure 

that risks to the Corporation are identified and 

mitigated to the fullest extent. In 2011, the 

Chairman announced creation of a new Office of 

Corporate Risk Management to be led by a Chief 

Risk Officer. The addition of such a function is 

another important organizational change that 

will require carefully thought-out and effective 

implementation in order to be successful.