USA's First Republic Bank shares dropped a record 67% at the opening despite the bank's declaration last month. It became the third US bank to shut down in 2023.
Signature Bank was the second American bank to shut down in March 2023. As per ex-Congressman Barney Frank regulators shut down the bank to send “a very strong anti-crypto message.
The collapse of Silicon Valley started financial worries for the USA. Silicon Valley Bank did not have enough cash to pay depositors, and regulators closed the bank as a result.
In 2020, Kansas regulators closed Almena State Bank due to “longstanding capital and asset quality issues” unrelated to the coronavirus pandemic.
In 2020, First City Bank of Florida was shut down after it experienced long-standing capital and asset quality issues 'unrelated to COVID pandemic'
West Virginia's The First State Bank was shutdown in 2020 again due to “longstanding capital and asset quality issues.” Its accounts were being taken over by MVB Bank, Inc.
Nebraska's Ericson State Bank was shut down in 2020 due to large out-of-territory commercial loan losses and poor management practices
In 2019, City National Bank of New Jersey was shutdown due to its money service business customer activity that resulted in severe Bank Secrecy ActAnti-Money Laundering compliance deficiencies
In 2019, Resolute Bank was shutdown after regulators find it had experienced substantial dissipation of assets and earnings due to unsafe and unsound practices.