One of Friday's seven shuttered banks, Advanta Bank, was different from the other six. The other six closed banks had offices and tellers, took retail deposits, and made home, commercial, and consumer loans. Advanta had $1.5 billion in deposits, but as far as I could tell it had no retail offices at all; it took brokered deposits and issued credit cards. Its assets consist largely of credit card receivables.
When it closes a bank, the FDIC issues a press release stating what it thinks the closure will cost its insurance fund. The FDIC insurance fund pays four kinds of costs when it closes a bank: the staff time to close the bank, find a buyer for the deposits, and sell the assets; the payout to insured depositors whose deposits aren't assumed, the premium it has to pay an acquiring bank to take over the deposits (though in some cases the FDIC can collect a premium); and the difference, if any, between what it has to pay out and what it can recover from the assets.
In the case of Advanta, the FDIC could not find a buyer to take over the deposits or (so far) the assets, and it estimates that the failure will cost its insurance fund $635 million. That's more than 40% of what Advanta's customers owe the bank. Put another way, it suggests that the FDIC thinks that Advanta's borrowers are going to repay only 60% of what they borrowed on their credit cards. Some days I feel like asking for the same deal myself.