During the subprime mortgage crisis, many banks and insurance companies have failed or were acquired due to being in a poor state. The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. So far, one investment and two diversified service banks have been acquired by other banks with government assistance in selling the company. The largest banks to be acquired have been the presumed Merrill Lynch acquisition by Bank of America, the Bear Stearns acquisition by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America. IndyMac Bank was also a large bank that was changed into a bridge bank by the FDIC, after its failure, until the funds can be disposed of. In addition, the investment bank Lehman Brothers has filed for Chapter 11 bankruptcy protection.
[edit] Acquisitions
| Acquisition date | Acquired company | Acquirer | Type of company acquired | ~Value (USD) | References |
| 02008-05-30 May 30, 2008 | Bear Stearns | JPMorgan Chase | Investment bank | $&0000002200000000.0000002,200,000,000 | [1] |
| 02008-07-01 July 1, 2008 | Countrywide Financial | Bank of America | Subprime mortgage lender | $&0000004000000000.0000004,000,000,000 | [2] |
| 02008-09-14 September 14, 2008 - Presumed | Merrill Lynch | Bank of America | Investment bank | $&0000044000000000.00000044,000,000,000 | [3] |
| 02008-09-16 September 16, 2008 - Presumed | American International Group | US federal governmentA | Insurance company | $&0000085000000000.00000085,000,000,000A | [4] |
| 02008-09-17 September 17, 2008 - | Lehman BrothersB | Barclays plc | Investment bank | $&0000001300000000.0000001,300,000,000 | [5] |
| 02008-09-18 September 18, 2008 - Presumed | HBOS (United Kingdom) | Lloyds TSB | diversified financial services | $&0000021850000000.00000021,850,000,000 | [6] |
| 02008-09-26 September 26, 2008 | Washington Mutual | JPMorgan Chase | diversified financial services | $&0000001900000000.0000001,900,000,000 | [7] |
[edit] Bankrupt, filed for bankruptcy protection, or closed and received by the FDIC
| Date | Company | Deposits and/or branches taken by | Type of company bankrupt or closed | References |
| 02007-02-02 February 2, 2007 | Metropolitan Savings Bank | Allegheny Valley Bank | | [8] |
| 02007-09-28 September 28, 2007 | NetBank | ING Direct | Retail and mortgage bank | [9][10] |
| 02007-10-04 October 4, 2007 | Miami Valley Bank | Citizens Banking Corp; FDIC | | [11][12] |
| 02008-01-25 January 25, 2008 | Douglass National Bank | FDIC, Liberty Bank and Trust Company | | [13] |
| 02008-03-07 March 7, 2008 | Hume Bank | Security Bank | | [14] |
| 02008-05-09 May 9, 2008 | ANB Financial | Pulaski Bank and Trust Company | | [15] |
| 02008-05-30 May 30, 2008 | First Integrity Bank | First International Bank and Trust; FDIC | | [16] |
| 02008-07-11 July 11, 2008 | IndyMac Bank | IndyMac Federal Bank | | [17] |
| 02008-07-25 July 25, 2008 | First National Bank; First Heritage Bank | Mutual of Omaha Bank | | [18] |
| 02008-08-01 August 1, 2008 | First Priority Bank | SunTrust Bank; FDIC | | [19] |
| 02008-08-22 August 22, 2008 | The Columbian Bank and Trust Company | Citizens Bank & Trust | | [20] |
| 02008-08-29 August 29, 2008 | Integrity Bank | Regions Bank | | [21] |
| 02008-09-05 September 05, 2008 | Silver State Bank | Nevada State Bank; National Bank of Arizona | | [22] |
| 02008-09-15 September 15, 2008 | Lehman Brothers | (filed for bankruptcy protection) | Investment bank | [23] |
| 02008-09-19 September 19, 2008 | AmeriBank | Pioneer Community Bank; The Citizen's Saving Bank | | [24] |
| 02008-09-25 September 25, 2008 | Washington Mutual | JPMorgan Chase | | |
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