Over 100 Bank Failures in 2009

We reached the unfortunate milestone of 100 bank failures for the year on Friday. The count valuted to 106 after 7 banks went under.

Given predictions made last year, that's not as many as I'd have expected by now.  Experts still predict we have several hundred more to come as a result of the financial crisis.

It seems there's a reason for the low number.  The Associated Press suggests that the FDIC is moving slowly.  They're hoping for economic recovery, finding buyers, and trying not to create a panic.  Of course, if you understand the nature of FDIC insurance, there's no need to panic as long as your money is insured.  Anybody with uninsured deposits should be aware of the threat and is hopefully already doing something about it.

• What Happens in a Bank Failure?
• How FDIC Insurance Works