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Open Access Articles- Top Results for List of banks acquired or bankrupted during the Great Recession

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 around 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 23x15px New Century Chapter 11 bankruptcy and liquidation Mortgage lender [1]
August 6, 2007 23x15px American Home Mortgage Chapter 11 bankruptcy and liquidation Mortgage lender [2]
September 28, 2007 23x15px NetBank 23x15px ING Direct Savings and loan association $14,000,000 [3][4]
October 9, 2007 23x15px ABN AMRO 23x15px 23x15px 23x15px Royal Bank of Scotland Fortis Grupo Santander Diversified financial services 70,000,000,000
February 22, 2008 23x15px Northern Rock 23x15px Government of the United Kingdom Retail and mortgage bank [5]
April 1, 2008 23x15px Bear Stearns, New York City 23x15px JPMorgan Chase, New York City Investment bank $2,200,000,000 [6]
June 7, 2008 23x15px Catholic Building Society 23x15px Chelsea Building Society Building Society £51,000,000 [7]
July 1, 2008 23x15px Countrywide Financial, Calabasas, California 23x15px Bank of America, Charlotte, North Carolina Mortgage lender $4,000,000,000 [8]
July 14, 2008 23x15px Alliance & Leicester 23x15px Grupo Santander Retail and mortgage bank £1,260,000,000 [9]
August 26, 2008 23x15px Roskilde Bank 23x15px Danmarks Nationalbank (Danish Central Bank) Retail bank $896,800,000 (kr4,500,000,000) [10]
September 7, 2008 23x15px Fannie Mae and Freddie Mac 23x15px Federal Housing Finance Agency Mortgage lenders $200,000,000,000 [11][12][13]
September 8, 2008 23x15px Derbyshire Building Society 23x15px Nationwide Building Society Building society £7,100,000,000 [14]
September 8, 2008 23x15px Cheshire Building Society 23x15px Nationwide Building Society Building society £4,900,000,000 [15]
September 14, 2008 23x15px Merrill Lynch, New York City 23x15px Bank of America, Charlotte, North Carolina Investment bank $44,000,000,000 [16]
September 16, 2008 23x15px American International Group, New York City 23x15px United States federal governmentA Insurance company $182,000,000,000 [17]
September 17, 2008 - 23x15px Lehman Brothers, New York City B 23x15px Barclays Investment bank $1,300,000,000 [18]
September 18, 2008 23x15px HBOS 23x15px Lloyds TSB Diversified financial services $21,850,000,000 [19]
September 26, 2008 23x15px Washington Mutual, Seattle, Washington 23x15px JPMorgan Chase, New York City Savings and loan association $1,900,000,000 [20]
September 26, 2008 23x15px Lehman BrothersC Template:Country data Japan Nomura Holdings Investment bank $2 [21]
September 28, 2008 23x15px Bradford & BingleyD 23x15px Government of the United Kingdom (Mortgage Assets)
23x15px Grupo Santander (Savings Liabilities)
Diversified financial services £612,000,000 [22][23][24]
September 28, 2008 23x15px 23x15px 23x15px Fortis 23x15px Government of the Netherlands (Dutch assets including ABN AMRO)
23x15px BNP Paribas (Belgian and Luxembourg assets)
Diversified financial services 11,200,000,000 [25]
September 30, 2008 23x15px Dexia 23x15px 23x15px 23x15px The Belgian, French and Luxembourg governments Public finance and retail [26]
October 3, 2008 23x15px Wachovia, Charlotte, North Carolina 23x15px Wells Fargo, San Francisco, California F Retail and investment banking $15,000,000,000 [27]
October 7, 2008 Template:Country data Iceland Landsbanki Template:Country data Iceland Icelandic Financial Supervisory Authority Commercial bank [28][29]
October 8, 2008 Template:Country data Iceland Glitnir Template:Country data Iceland Icelandic Financial Supervisory Authority Commercial bank [30][31]
October 9, 2008 Template:Country data Iceland Kaupthing Bank 23x15px ING Direct Commercial bank 1,140,000,000 [32][33]
October 9, 2008 23x15px BankWest (subsidiary of HBOS) 23x15px Commonwealth Bank of Australia Bank £1,200,000,000 [34]
October 13, 2008 23x15px Sovereign Bank, Wyomissing, Pennsylvania 23x15px Banco Santander SA Bank $1,900,000,000 [35]
October 13, 2008 23x15px Royal Bank of Scotland Group (up to 81.14% Bought) 23x15px Government of the United Kingdom Bank £20,000,000,000 [36][37]
October 13, 2008 23x15px HBOS (up to 43.5% Bought) 23x15px Government of the United Kingdom Bank £13,000,000,000 [36][37]
October 13, 2008 23x15px Lloyds TSB (up to 43.5% Bought) 23x15px Government of the United Kingdom Bank £4,000,000,000 [37]
October 17, 2008 23x16px UBS 23x16px Swiss National Bank and the Federal administration of Switzerland Bank $59,200,000,000 [38]
October 22, 2008 23x15px Barnsley Building Society 23x15px Yorkshire Building Society Building society £376,000,000 [39]
October 24, 2008 23x15px National City Bank, Cleveland, Ohio 23x15px PNC Financial Services, Pittsburgh, Pennsylvania Bank $5,580,000,000 [40]
October 24, 2008 23x15px Commerce Bancorp, Cherry Hill, New Jersey 23x15px Toronto-Dominion Bank, Toronto, Canada Bank $8,500,000,000 [41]
November 2, 2008 23x15px Banco Português de Negócios 23x15px Government of Portugal Bank 6,305,000,000 [42]
November 4, 2008 23x15px Scarborough Building Society 23x15px Skipton Building Society Building Society [43]
November 8, 2008 23x15px Parex Bank (51% controlling interest) 23x15px Government of Latvia Bank [44]
November 21, 2008 23x15px Downey Savings and Loan 23x15px U.S. Bank Savings and loan association [45][46]
January 10, 2009 23x15px IndyMac Federal Bank 23x15px IMB Management Holdings Savings and loan association $13,900,000,000 [47]
January 15, 2009 Template:Country data Republic of Ireland Anglo Irish Bank Template:Country data Republic of Ireland Government of the Republic of Ireland Bank [48]
February 3, 2009 Template:Country data Kazakhstan BTA Bank Template:Country data Kazakhstan Government of Kazakhstan Bank $2,100,000,000 [49]
February 3, 2009 Template:Country data Kazakhstan Alliance Bank Template:Country data Kazakhstan Government of Kazakhstan Bank [49]
February 21, 2009 23x15px Bank of Antigua 23x15px Eastern Caribbean Central Bank Bank [50]
March 2, 2009 23x15px HSBC Finance Corporation shutdown of US consumer lending Consumer finance [51][52]
March 9, 2009 Template:Country data Iceland Straumur Investment Bank Template:Country data Iceland Icelandic Financial Supervisory Authority Investment bank [53]
March 9, 2009 23x15px Dunfermline Building Society 23x15px Bank of England (social housing loans)
23x15px Nationwide Building Society (savings, residential mortgages, branch network)
Building Society [54]
August 14, 2009 23x15px Colonial Bank, Alabama 23x15px BB&T, North Carolina Bank [55]
August 21, 2009 23x15px Guaranty Bank, Texas 23x15px BBVA Compass, Alabama Savings and loan association [56]
December 18, 2009 23x15px Philippine American Life and General Insurance Company Template:Country data Hong Kong American International Assurance Insurance company [57]
February 24, 2010 23x15px Chesham Building Society 23x15px Skipton Building Society Building Society £230,000,000 [58]
April 15, 2010 23x15px Banco Privado Português 23x15px Government of Portugal Bankruptcy and fraud Bank 41,000,000
May 24, 2010 23x15px CajaSur 23x15px Banco de España Savings and loan association 550,000,000 [59]
November 8, 2010 23x15px Ambac Chapter 11 bankruptcy and restructuring Insurance company [60]
October 31, 2011 23x15px MF Global 23x15px US Securities and Exchange Commission Diversified financial services $43,000,000,000
November 23, 2011 23x15px PMI Group 23x15px State of Arizona Insurance company [61][62]
May 25, 2012 23x15px Bankia 23x15px Government of Spain Savings and loan association 19,000,000,000
June 11, 2012 23x15px FGIC 23x15px State of New York Insurance company [63]

See also

References

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  2. "American Home Mortgage Seeks Chapter 11 Bankruptcy Protection". Associated Press. 2007-08-07. Retrieved 2015-01-24. 
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