The total number of failed banks in the U.S. as of November reached 115.  This is a huge number.  ”Foreclosed properties in the states of California, Texas, Illinois and Arizona contributed largely to the collapse of nine banks owned by holding company FBOP Corporation.”The nine banks involved are subsidiaries of FBOP: Bank USA in Phoenix, San Diego National Bank, California National Bank in Los Angeles, Pacific National Bank in San Francisco, Community Bank in Lemont, Park National Bank in Chicago, North Houston Bank, Citizens National Bank in Teague, Texas and Madisonville Bank in Texas.

“According to FBOP, it suffered huge losses in two areas: preferred stocks in Fannie Mae and Freddie Mac and bank foreclosed properties in the commercial sector.”

You can see the full CNN story here: http://www.money.cnn.com/2009/10/30/news/economy/fbop_failure/?postversion=2009103023