Regulators closed 9 banks in California, Illinois, Texas and Arizona, boosting the number of failed U.S. banks this year to 115.
Nine is the most in one day that the FDIC has shut since the financial crisis began taking down banks last year. The 115 total failures are the most in a year since 1992 at the height of the savings-and-loan crisis.
The FDIC expects Friday's closings will cost $2.5 billion. To replenish their fund, the FDIC wants the roughly 8,100 insured banks and savings institutions to pay premiums in advance that would have been due over the next three years.
Hundreds more bank failures are expected to raise the cost to around $100 billion through 2013. Last July, FDIC Chairman Sheila Bair predicted that the bank failure rate will increase tenfold.