• Bank of Illinois in Normal,Illinois
• Sun American Bank in Boca Raton, Florida
• Centennial Bank in Ogden, Utah
• Waterfield Bank in Germantown, Maryland

• La Coste National Bank in La Coste, Texas
• La Jolla Bank, FSB in La Jolla, California
• Marco Community Bank in Marco Island, Florida
• George Washington Savings Bank in Orland Park, Illinois

• Solutions Bank in Overland Park, Kansas
• Republic Federal Bank, N.A. in Miami, Florida
• Valley Capital Bank, N.A. in Mesa, Arizona

One loser from a bankruptcy would be the U.S. Treasury. Late last year it injected $2.3 billion of funds from the Troubled Asset Relief Program to help stabilize the lender, which was weighed down by billions of dollars of bad student loans and subprime mortgages. The government investment is likely to be wiped out, said people familiar with the matter. Common shares would likely drop to zero, too, these people said.

*****

Under the bankruptcy plan, senior bondholders would trade their current debt for new debt maturing later worth about 70 cents on the dollar. They would get 92.5% of the equity in a restructured CIT. Junior bondholders would get the remaining equity in a reorganized CIT, but no new debt.

• InBank in Oak Forest, Illinois
• Platinum Community Bank in Rolling Meadows, Illinois
• First Bank of Kansas City in Kanas City, Missouri
• First State Bank in Flagstaff, Arizona

• Affinity Bank based in Ventura, California
• Bradford Bank in Baltimore, Maryland
• Mainstreet Bank in Forest Lake, Minnesota

The Montgomery, Ala., bank, which has 346 branches spread across Florida, Alabama, Georgia, Nevada, and Texas, is the sixth largest bank failure in U.S. history and by far the largest failure of 2009.

With $25 billion in assets and $20 billion in deposits, Colonial is 100 times larger than the typical bank to have failed this year.

BB&T (BBT, Fortune 500) will buy $22 billion of Colonial's assets, as well as its deposits and branches, leaving the remaining assets in the hands of the Federal Deposit Insurance Corp.

• Community Bank of Nevada in Las Vegas
• Union Bank in Gilbert, Arizona
• Community Bank of Arizona in Phoenix

• Community First Bank in Prineville, Oregon
• First State Bank in Sarasota, Florida
• Community National Bank in Venice, Florida

Six of the banks that closed were subsidiaries of one larger bank, the Security Bank Corporation, based out of Macon, Ga. So far in 2009, 16 banks have failed in Georgia, more than in any other single state.

The State Bank and Trust Company, headquartered in Pinehurst, Ga., will take over all of the deposits of the six bank subsidiaries that failed. As of March 31, the six subsidiaries had total assets of $2.8 billion and total deposits of approximately $2.4 billion.

The six failed Georgia banks had a total of 20 branches, and the branches will reopen Saturday as branches of State Bank and Trust Company.

• First Piedmont Bank in Winder, Georgia
• BankFirst in Sioux Falls, South Dakota
• Temecula Valley Bank in Temecula, California
• Vineyard Bank of Rancho Cucamonga, California

• First State Bank of Winchester
• John Warner Bank
• Rock River Bank
• Elizabeth State Bank
• First National Bank of Danville
• Founders Bank
• Millennium State Bank of Texas

• Community Bank of West Georgia in Villa Rica, Georgia
• Neighborhood Community Bank in Newnan, Georgia
• Horizon Bank in Pine City, Minnesoate
• MetroPacific Bank in Irvine, California
• Mirae Bank in Los Angeles.

• Southern Community Bank in Fayetteville, Georgia was closed by regulators. United Community Bank in Blairsville, Georgia will take over the bank's deposits. The FDIC's informational page can be found here.
• Cooperative Bank in Wilmington, North Carolina was closed by regulators. First Bank in Troy, NC will take over the bank's deposits. The FDIC's informational page can be found here.
• First National Bank of Anthony in Anthony, Kansas was also closed by regulators. Bank of Kansas in South Hutchinson will take over the bank's deposits. The FDIC's informational page can be found here.

The Federal Deposit Insurance Corp. seized the small bank and said its nine branches and nearly all of its deposits will be taken over by Kitsap Bank of Port Orchard, Wash.

Westsound Bank is the second bank based in the state of Washington to collapse this year, after the Bank of Clark County in January.

Westsound, which served the Puget Sound area, was hit hard by losses in construction loans.

It had total assets of $334.6 million as of March 31, and total deposits of $304.5 million.

State regulators shut down Citizens Community Bank Friday night, and named the FDIC as the receiver. The Ridgewood, N.J.- based bank had total assets of approximately $45.1 million and total deposits of $43.7 million as of Dec. 31.

North Jersey Community Bank, of Englewood Cliffs, N.J., has agreed to assume all of the deposits of the failed bank. The failed bank's single office will reopen Monday as the North Jersey Community Bank.

**** On Friday evening the FDIC also became the receiver of America West Bank, after the Utah regulators closed the institution. The Layton, Utah-based bank had total assets of approximately $299.4 million and total deposits of $284.1 million as of Dec. 31.

Cache Valley Bank, based in Logan, Utah, is assuming all deposits, paying discounted price of $352,000. It also agreed to buy nearly $11 million worth of America West's assets and took a 30-day option to purchase loans at book value. The FDIC estimates that the cost to the Deposit Insurance Fund will be $119.4 million.