“The Federal Deposit Insurance Corp. (FDIC) has been called in as receiver for eight banks through August 4, 2008, following the closure of four institutions in 2007. Prior to the recent closings, the FDIC had not been appointed as receiver for a failed bank since 2004. Regulators expect bank failures in the near term to increase, partly due to some banks’ concentration in real estate loans and construction and development lending.”  Source: AM Best