Journalist Aaron Rupar pointed out the falseness of Donald Trump Jr’s statement, tweeting: “There were actually 16 bank failures between 2017 and 2020. SVB Bank is the first to collapse since Biden took office.” He sourced data from the Federal Deposit Insurance Corporation (FDIC), which reports that eight banks failed in 2017, four in 2019 and four in 2020.
The eight banks that failed in 2017 were: the Washington Federal Bank for Savings, Chicago, Illinois; The Farmers and Merchants State Bank of Argonia, Argonia, Kansas; Fayette County Bank, Saint Elmo, Illinois; Guaranty Bank, Milwaukee, Wisconsin; First NBC Bank, New Orleans, Louisiana; Proficio Bank, Cottonwood Heights, Utah; Seaway Bank and Trust Company, Chicago, Illinois; and Harvest Community Bank, Pennsville, New Jersey.
In 2019, the four banks that collapsed were: City National Bank of New Jersey, Newark, New Jersey; Resolute Bank, Maumee, Ohio; Louisa Community Bank, Louisa, Kentucky; and the Enloe State Bank, Cooper, Texas.
The quartet of banks that failed in 2020 were: Almena State Bank, Almena, Kansas; First City Bank of Florida, Fort Walton Beach, Florida; The First State Bank, Barboursville, West Virginia; and Ericson State Bank, Ericson, Nebraska.
In 2018, 2021 and 2022, there were no bank failures.
Journalist Aaron Rupar pointed out the falseness of Donald Trump Jr’s statement, tweeting: “There were actually 16 bank failures between 2017 and 2020. SVB Bank is the first to collapse since Biden took office.” He sourced data from the Federal Deposit Insurance Corporation (FDIC), which reports that eight banks failed in 2017, four in 2019 and four in 2020.
The eight banks that failed in 2017 were: the Washington Federal Bank for Savings, Chicago, Illinois; The Farmers and Merchants State Bank of Argonia, Argonia, Kansas; Fayette County Bank, Saint Elmo, Illinois; Guaranty Bank, Milwaukee, Wisconsin; First NBC Bank, New Orleans, Louisiana; Proficio Bank, Cottonwood Heights, Utah; Seaway Bank and Trust Company, Chicago, Illinois; and Harvest Community Bank, Pennsville, New Jersey.
In 2019, the four banks that collapsed were: City National Bank of New Jersey, Newark, New Jersey; Resolute Bank, Maumee, Ohio; Louisa Community Bank, Louisa, Kentucky; and the Enloe State Bank, Cooper, Texas.
The quartet of banks that failed in 2020 were: Almena State Bank, Almena, Kansas; First City Bank of Florida, Fort Walton Beach, Florida; The First State Bank, Barboursville, West Virginia; and Ericson State Bank, Ericson, Nebraska.
In 2018, 2021 and 2022, there were no bank failures.