List of banks acquired or bankrupted during the Great Recession

This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered on 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were:

• taken over or merged with another financial institution;
• nationalised by a government or central bank; or
• declared insolvent or liquidated.

Announcement date	Acquired company	Acquirer	Type of company acquired	Value (USD, EUR and GBP)	Reference
April 2, 2007	New Century	Chapter 11 bankruptcy and liquidation	Mortgage lender		[1]
August 6, 2007	American Home Mortgage	Chapter 11 bankruptcy and liquidation	Mortgage lender		[2]
September 28, 2007	NetBank	ING Direct	Savings and loan association	$14,000,000	[3][4]
October 9, 2007	ABN AMRO	Royal Bank of Scotland Fortis Grupo Santander	Diversified financial services	€70,000,000,000
February 22, 2008	Northern Rock	Government of the United Kingdom	Retail and mortgage bank		[5]
April 1, 2008	Bear Stearns, New York City	JPMorgan Chase, New York City	Investment bank	$2,200,000,000	[6]
June 7, 2008	Catholic Building Society	Chelsea Building Society	Building Society	£51,000,000	[7]
July 1, 2008	Countrywide Financial, Calabasas, California	Bank of America, Charlotte, North Carolina	Mortgage lender	$4,000,000,000	[8]
July 14, 2008	Alliance & Leicester	Grupo Santander	Retail and mortgage bank	£1,260,000,000	[9]
August 26, 2008	Roskilde Bank	Danmarks Nationalbank (Danish Central Bank)	Retail bank	$896,800,000 (kr4,500,000,000)	[10]
September 7, 2008	Fannie Mae and Freddie Mac	Federal Housing Finance Agency	Mortgage lenders	$200,000,000,000	[11][12][13]
September 8, 2008	Derbyshire Building Society	Nationwide Building Society	Building society	£7,100,000,000	[14]
September 8, 2008	Cheshire Building Society	Nationwide Building Society	Building society	£4,900,000,000	[15]
September 14, 2008	Merrill Lynch, New York City	Bank of America, Charlotte, North Carolina	Investment bank	$44,000,000,000	[16]
September 16, 2008	American International Group, New York City	United States federal government^A	Insurance company	$182,000,000,000	[17]
September 17, 2008 -	Lehman Brothers, New York City ^B	Barclays	Investment bank	$1,300,000,000	[18]
September 18, 2008	HBOS	Lloyds TSB	Diversified financial services	$21,850,000,000	[19]
September 26, 2008	Washington Mutual, Seattle, Washington	JPMorgan Chase, New York City	Savings and loan association	$1,900,000,000	[20]
September 26, 2008	Lehman Brothers^C	Nomura Holdings	Investment bank	$2	[21]
September 28, 2008	Bradford & Bingley^D	Government of the United Kingdom (Mortgage Assets) Grupo Santander (Savings Liabilities)	Diversified financial services	£612,000,000	[22][23][24]
September 28, 2008	Fortis	Government of the Netherlands (Dutch assets including ABN AMRO) BNP Paribas (Belgian and Luxembourg assets)	Diversified financial services	€11,200,000,000	[25]
September 30, 2008	Dexia	The Belgian, French and Luxembourg governments	Public finance and retail		[26]
October 3, 2008	Wachovia, Charlotte, North Carolina	Wells Fargo, San Francisco, California ^F	Retail and investment banking	$15,000,000,000	[27]
October 7, 2008	Landsbanki	Icelandic Financial Supervisory Authority	Commercial bank		[28][29]
October 8, 2008	Glitnir	Icelandic Financial Supervisory Authority	Commercial bank		[30][31]
October 9, 2008	Kaupthing Bank	ING Direct	Commercial bank	€1,140,000,000	[32][33]
October 9, 2008	BankWest (subsidiary of HBOS)	Commonwealth Bank of Australia	Bank	£1,200,000,000	[34]
October 13, 2008	Sovereign Bank, Wyomissing, Pennsylvania	Banco Santander SA	Bank	$1,900,000,000	[35]
October 13, 2008	Royal Bank of Scotland Group (up to 81.14% Bought)	Government of the United Kingdom	Bank	£20,000,000,000	[36][37]
October 13, 2008	HBOS (up to 43.5% Bought)	Government of the United Kingdom	Bank	£13,000,000,000	[36][37]
October 13, 2008	Lloyds TSB (up to 43.5% Bought)	Government of the United Kingdom	Bank	£4,000,000,000	[37]
October 17, 2008	UBS	Swiss National Bank and the Federal administration of Switzerland	Bank	$59,200,000,000	[38]
October 22, 2008	Barnsley Building Society	Yorkshire Building Society	Building society	£376,000,000	[39]
October 24, 2008	National City Bank, Cleveland, Ohio	PNC Financial Services, Pittsburgh, Pennsylvania	Bank	$5,580,000,000	[40]
October 24, 2008	Commerce Bancorp, Cherry Hill, New Jersey	Toronto-Dominion Bank, Toronto, Canada	Bank	$8,500,000,000	[41]
November 2, 2008	Banco Português de Negócios	Government of Portugal	Bank	€6,305,000,000	[42]
November 4, 2008	Scarborough Building Society	Skipton Building Society	Building Society		[43]
November 8, 2008	Parex Bank (51% controlling interest)	Government of Latvia	Bank		[44]
November 21, 2008	Downey Savings and Loan	U.S. Bank	Savings and loan association		[45][46]
January 10, 2009	IndyMac Federal Bank	IMB Management Holdings	Savings and loan association	$13,900,000,000	[47]
January 15, 2009	Anglo Irish Bank	Government of the Republic of Ireland	Bank		[48]
February 3, 2009	BTA Bank	Government of Kazakhstan	Bank	$2,100,000,000	[49]
February 3, 2009	Alliance Bank	Government of Kazakhstan	Bank		[49]
February 21, 2009	Bank of Antigua	Eastern Caribbean Central Bank	Bank		[50]
March 2, 2009	HSBC Finance Corporation	shutdown of US consumer lending	Consumer finance		[51][52]
March 9, 2009	Straumur Investment Bank	Icelandic Financial Supervisory Authority	Investment bank		[53]
March 9, 2009	Dunfermline Building Society	Bank of England (social housing loans) Nationwide Building Society (savings, residential mortgages, branch network)	Building Society		[54]
August 14, 2009	Colonial Bank, Alabama	BB&T, North Carolina	Bank		[55]
August 21, 2009	Guaranty Bank, Texas	BBVA Compass, Alabama	Savings and loan association		[56]
December 18, 2009	Philippine American Life and General Insurance Company	American International Assurance	Insurance company		[57]
February 24, 2010	Chesham Building Society	Skipton Building Society	Building Society	£230,000,000	[58]
April 15, 2010	Banco Privado Português	Government of Portugal Bankruptcy and fraud	Bank	€41,000,000
May 24, 2010	CajaSur	Banco de España	Savings and loan association	€550,000,000	[59]
November 8, 2010	Ambac	Chapter 11 bankruptcy and restructuring	Insurance company		[60]
October 31, 2011	MF Global	US Securities and Exchange Commission	Diversified financial services	$43,000,000,000
November 23, 2011	PMI Group	State of Arizona	Insurance company		[61][62]
May 25, 2012	Bankia	Government of Spain	Savings and loan association	€19,000,000,000
June 11, 2012	FGIC	State of New York	Insurance company		[63]

See also

• List of bank failures in the United States (2008–present)

References

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