biggest bank failures

Banking On Change: The Hidden Cost of Bank Failures (2001 – 2023)

By:Katie McGarrigle

Bank closures and failures have become a present-day reality in the fluctuating world of finance. They can leave behind a trail of economic repercussions, sometimes felt for years.

As the banking crisis that began in March continues to unfold, we’ve been asking lots of questions in an effort to understand who’s to blame.

Check out Tom and Dylan tackle this exact question on Truth Or Skepticism: Just Let Me Buy A Bank

We took a deep dive into data released from the FDIC (Federal Deposit Insurance Corporation) from 2001 – 2023, to chart the ebb and flow of bank strength, mapping the financial fall out across two decades.

Download our tastylive infographic right here

biggest bank closures

Extending beyond the bank closures themselves, each failure delivers its own tale of the tumultuous 22-year period, illuminating the hidden costs of bank failures and their demise.

The trend of heavy blows is not at all a constant though, with years of relative calm and stability including years 2005, 2006, 2018, 2021 and 2022, punctuated by zero bank closures.

number of bank failures per year

So, why should we care?

Understanding the ripple effect is key as we know these failures impact the broader baseline, potentially affecting credit availability, business and consumer finance, and of course, interest rates.

Check out this show from Jermal with his run-down on the 3 Most Unstable Banks In The World!

Looking beyond local, there’s an argument that regional banks haven’t innovated and there’s a consensus that banks across the industry are incompetent. Only time will tell but stay up-to-date with all latest on the financial fault lines as we continue to unmask the impact and tally the toll across the network – tastylive streaming 7 days a week!

top 5 biggest bank failures

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