Six US banks have failed in 2026 but the numbers look nothing like 2023

AI refinement failed — excerpt only

The AI model was rate-limited when this draft was created. The text below is a raw excerpt of the source article; rewrite it before publishing.

Six US banks have failed in 2026 so far, which is one more than in 2023 and enough to make another banking-crisis headline practically write itself.

But before we start reliving Silicon Valley Bank, it's worth looking at what those six banks actually held: about $1.43 billion in combined assets, compared with roughly $552.54 billion at the banks that failed in 2023, according to historical numbers from the Federal Deposit Insurance Corporation (FDIC).

Counting each bank as one gives you a perfectly accurate number and a pretty lousy sense of scale. This year's total includes a lender with $3.73 million in assets, which gets the same vote in the tally as a bank the size of SVB.

Meanwhile, FDIC's latest industry assessment shows stronger profits and fewer banks on its problem list. That doesn't mean the six failures were harmless, or that every surviving bank is doing well, but anyone selling a 2023 rerun has some explaining to do.

Nano Banc's Sept. 25 closure brought the count to six and supplied the largest failure of the year so far. The Irvine, California, lender reported $736 million in assets, and the FDIC estimated a $114 million cost to its Deposit Insurance Fund.

Someone will bear that loss, but a bill attached to one failed bank doesn't mean the rest of banking is about to follow.