Only one bank was added to the FDIC Failed Bank List. San Joaquin Bank of Bakersfield, CA failed. From the press release:

As of September 29, 2009, San Joaquin Bank had total assets of $775 million and total deposits of approximately $631 million. Citizens Business Bank did not pay the FDIC a premium for the deposits of San Joaquin Bank. In addition to assuming all of the deposits of the failed bank, Citizens Business Bank agreed to purchase essentially all of the assets.

The FDIC and Citizens Business Bank entered into a loss-share transaction on approximately $683 million of San Joaquin Bank’s assets. Citizens Business Bank will share in the losses on the asset pools covered under the loss-share agreement.

…

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $103 million. Citizens Business Bank’s acquisition of all the deposits was the “least costly” resolution for the FDIC’s DIF compared to alternatives. San Joaquin Bank is the 99th FDIC-insured institution to fail in the nation this year, and the tenth in California. The last FDIC-insured institution closed in the state was Affinity Bank, Ventura, on August 28, 2009.

$100 million to cover $600 million in deposits. Aside from another one of those annoying loss-share agreement, that’s not too shabby. Only one more to go before we celebrate #100.