fdic

The nation’s deposit insurance fund declined 24% in the first three months of the year to $13 billion as the number of banks failing mounted, the Federal Deposit Insurance Corp. said Wednesday.

The agency, which ensures that depositors do not lose their money up to a limit if a bank fails, reported 21 bank failures in the first quarter. And the agency has taken further hits since the close of the quarter March 31. Last week, Florida-based Bank United collapsed, costing the FDIC $4.9 billion.

Overall, 36 banks have failed this year.

The number of “problem” banks -- those at risk of failing -- increased in the quarter from 252 to 305. The agency didn’t name the banks.

FDIC Chairwoman Sheila C. Bair said she expected the fund to continue to decline through the year but stay positive. The agency has set aside $28 billion from its deposit insurance fund to cover losses over the next year. And it is expecting to raise $8 billion in fees from the banking industry through June 30, including a special $5.6-billion assessment approved last week.

Bair said she didn’t expect the FDIC to have to tap additional funds from the Treasury Department.