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Mind you, on average only 13% of the banks on the FDIC's "problem" list actually fail, but this year has been particularly bad for banks all around due to commercial loan losses. So far, the FDIC has seized 36 banks (11 more than in 2008), meaning the agency is on track to seize about 100 banks. Meanwhile, the media has speculated that the current pace could pick up and hundreds more could fail by year's end. The Street.com has pegged 82 banks and seven thrifts with the help of SNL Financial that do not hold the amount of money required by regulators. The list contains several banks in Florida, California and Illinois. While the hardest-hit state has been Georgia, which has seen six failures, Illinois is the second hardest hit with five, including the two most recent, Citizens National Bank of Macomb, Ill., and Strategic Capital Bank of Champaign, Ill. Meanwhile, California has seen four banks fail and Florida three including BankUnited Financial Corp. Some regional papers such as the Washington Business Journal have been flagging institutions that could be shut down this weekend. According to the publication, Greater Atlantic Bank could be seized soon: "The Reston-based bank, a subsidiary of Greater Atlantic Financial Corp. (Pink Sheets: GAFC), has been in hot water with its regulator, the Office of Thrift Supervision, since April 2008, when it was hit with a cease and desist enforcement order.The directive initially also gave the bank until May 27 to enter into a binding merger agreement or acquisition agreement, but that deadline was extended to June 15, according to the order and modification." The Chicago Tribune also flagged a bunch of banks that could fail in Illinois if the banks do not merge or raise capital: "Benchmark Bank, Aurora; Corus Bank, Chicago; Citizens Bank & Trust of Chicago; Lincoln Park Savings Bank, Chicago; John Warner Bank, Clinton; First National Bank of Danville; Elizabeth State Bank, Elizabeth; First National Bank of Gilman; Mutual Bank, Harvey; Community Bank of Lemont; Bank of Lincolnwood; Rock River Bank, Oregon; Peotone Bank & Trust Co., Peotone; First State Bank of Winchester; and Founders Bank, Worth. The Tribune reported Thursday that Community Bank of Lemont is trying to merge with Chicago-based Park National Bank, and last week reported that Founders Bank is trying to raise capital." According to Florida Buzz, Riverside National Bank is among the seven weakest banks in Florida and may soon fail. Guaranty Financial Group is also on the warning list, as Dealscape pointed out last week: "The troubled thrift based in Austin, Texas, is still working with regulators and adviser Morgan Stanley (NYSE:MS) to address its capital shortfall or file a plan for strategic alternatives," according to The Deal's Vipal Monga. (See full story in The Deal's Pipeline.) It's likely these institutions could be acquired by private equity consortia either prior to being seized, such as First Southern Bancorp Inc., or after being seized. Any deals of banks being sold after being seized will likely be similar to the BankUnited deal last week. As Jones Day's Chip MacDonald told Dealscape, more deals between the FDIC and PE consortia are likely as bank failures increase. - Maria Woehr Also see:
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It's Friday, which means employees of the Federal Deposit Insurance Corp. are probably preparing to close a bank somewhere tonight. So what banks might be on the FDIC's hit list? Local media responding to the 
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