USA - US bank Regulators have closed another bank on Friday 3^rd August 2012.

This takes the total of failed banks in the USA to 40 for the year.

Last year, 2011 93 US banks failed, a 33% drop on the previous year. In 2010 157 Banks failed, exceeding the total for the year before, 2009 when 140 Banks failed and just 25 banks failing in all of 2008, and only three in 2007.

1.  On Friday, August 3, 2012, Waukegan Savings Bank, Waukegan, IL was closed by the Illinois Department of Financial & Professional Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

All deposit accounts have been transferred to First Midwest Bank, Itasca, IL ("assuming institution") and will be available immediately. The former Waukegan Savings Bank locations will reopen as branches of First Midwest Bank during regular business hours.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $19.8 million.

The FDIC estimates that the total cost to the Deposit Insurance Fund (DIF) of this weeks Bank failures will be $ 19.8 million.