UCBH Holdings Inc (fka UCBHQ)

[mlkrborn]

The bank failure map is color-coded, with states having the greatest number of failures highlighted in red, and states with no failures in grey.

The most significant failure -- and the seventh-largest during the 2008-2009 crisis -- was United Commercial Bank of San Francisco, the main subsidiary of UCBH Holdings (UCBH Quote). The Federal Deposit Insurance Corp. and Chinese bank regulators worked together to arrange for East West Bank of Pasadena, Calif. to take over United Commercial's operations, as well as its UCB-China subsidiary in Shanghai.

East West Bank is a subsidiary of East West Bancorp (EWBC Quote). United Commercial had $10.2 billion in assets when it failed, and the FDIC estimated the cost of the failure to its insurance fund would be $1.4 billion.

Georgia regulators closed United Security Bank of Sparta and the FDIC sold the failed bank's deposits and its total assets of $157 million to Ameris Bank of Moultrie, Ga., a subsidiary of Ameris Bancorp (ABCB Quote). The FDIC agreed to share in losses on $123 million of the acquired assets and estimated the cost to its insurance fund would be $58 million.

The Office of Thrift Supervision shuttered Home Federal Savings Bank of Detroit, and the FDIC arranged for Liberty Bank and Trust Co. of New Orleans to assume the failed thrift's deposits and its $14.9 million in total assets, with the failure costing the insurance fund an estimated $5.4 million

State regulators in Minnesota took over Prosperan Bank of Oakdale, with the FDIC selling the failed bank's deposits and $174 million of Prosperan's $200 million in assets to Alerus Financial NA of Grand Forks, N.D., a subsidiary of Alerus Financial ( ALRS.PK Quote). The FDIC agreed to share in losses on the acquired assets and estimated the cost to its insurance fund would be $60.1 million.

The Missouri Division of Finance closed Gateway Bank of St. Louis. The FDIC arranged for Central Bank of Kansas City, Mo. to assume the failed bank's deposits and its total assets of $27.7 million and estimated the cost to its insurance fund would be $9.2 million.

Georgia leads all states with 26 bank or thrift failures during 2008 and 2009, followed by Illinois with 20, California with 19, and Floridawith 11 failures.

Large holding companies acquiring failed institutions during 2008 and 2009 have included JPMorgan Chase (JPM Quote), which acquired Washington Mutual, the largest-ever bank or thrift to fail in the U.S; U.S. Bancorp (USB Quote); SunTrust Banks (STI Quote); Regions Financial (RF Quote); Fifth Third Bancorp (FITB Quote); Zions Bancorp (ZION Quote); and PNC Financial (PNC Quote); and BB&T (BBT Quote).