The year 2009 is proving to be a big blot on the US banking industry with 92 banks getting closed down so far due to systemic issues. There were three bank closures this week alone which took the total bank closures in the first 36 weeks of 2009 to 92.
This is nearly four times the 25 banks closed in the whole of 2008. And the year 2007 was the best for US banking industry with only five banks getting closed down. The US FED report talks of another 408 banks failing the US FED standards as of last month. That only means that there could be more US bank failures in the next twelve months.