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Bank failures usually occur during economic downturns, and in recent decades some of those failures have been spectacular. Here are five of the biggest in U.S. history.

The worst was Washington Mutual, which went under in 2008 due to the financial crisis. The FDIC seized its assets of $307 billion, then brokered a deal for JPMorgan to buy it for $1.9 billion.

IndyMac Bank, with assets of $32 billion and deposits exceeding $19 billion, was another one of 25 banks that closed in 2008 due to the credit crisis. Federal authorities said Senator Charles Schumer sparked the run when he publicly questioned the bank’s viability.

In 1981, Continental Illinois National Bank and Trust was the sixth largest U.S. bank, and it had the country’s largest commercial and industrial loan portfolio. The bank collapsed in 1984 with assets worth $40 billion, due to losses stemming from its nonperforming loans.

First Republic Bank was the largest to fail during the savings and loan crisis in the 1980s, with $33.4 billion in assets. Its failure stemmed from deterioration in the Texas real estate market, and increases in nonperforming loans. Many of its depositors used wire transfers and ATMs to withdraw their money, dubbing it an “electronic run.”

The Bank of New England and two of its sister banks failed in 1991 with assets totaling $21.8 billion. A bad loan portfolio was the culprit. The FDIC insured all of its deposits, even those that exceeded $100,000.

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