Regulators shut banks in 4 states
December 19, 2009
Washington - Regulators have shut down banks in Alabama, Florida, Georgia and Michigan, bringing to 137 the number of US banks that have failed this year amid the soured economy and mounting loan defaults.
The Federal Deposit Insurance Corp. took over the four. Atlanta-based RockBridge Commercial Bank, with $294 million in assets and $291.7 million in deposits was shuttered, as was New South Federal Savings Bank, based in Irondale, Alabama, with $1.5 billion in assets and $1.2 billion in deposits.
Also closing their doors were Citizens State Bank of New Baltimore, Michigan, with $168.6 million in assets and $157.1 million in deposits; and Peoples First Community Bank of Panama City, Florida, with $1.8 billion in assets and $1.7 billion in deposits. - Sapa-AP
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