Banks shuttered in Fla., Ill., Md., Utah

[upi402]

Source: By IEVA M. AUGSTUMS and MARCY GORDON, AP Business Writers

CHARLOTTE, N.C. – Regulators on Friday shuttered banks in Florida, Illinois, Maryland and Utah, boosting to 26 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.

The Federal Deposit Insurance Corp. took over Sun American Bank, based in Boca Raton, Fla., with $535.7 million in assets and $443.5 million in deposits. Also seized were Bank of Illinois of Normal, Ill., with $211.7 million in assets and $198.5 million in deposits; Waterfield Bank in Germantown, Md., with $155.6 million in assets and $156.4 million in deposits; and Centennial Bank in Ogden, Utah, with $215.2 million in assets and $205.1 million in deposits.

First-Citizens Bank & Trust Co., based in Raleigh, N.C., agreed to assume the assets and deposits of Sun American Bank and to share losses with the FDIC on $433 million of the failed bank's loans and other assets. It was First-Citizens' fourth acquisition of assets of a failed bank since last July; the others were First Regional Bank of Los Angeles, Venture Bank of Lacey, Wash., and Temecula Valley Bank of Temecula, Calif.

...The pace of bank seizures this year is likely to accelerate in coming months, FDIC officials have said...

Read more: http://news.yahoo.com/s/ap/20100306/ap_on_bi_ge/us_bank_closures;_ylt=Agdo8PeI_Vv2zAFyl7AZXnsN97QF;_ylu=X3oDMTM1NWRyMHZkBGFzc2V0A2FwLzIwMTAwMzA2L3VzX2JhbmtfY2xvc3VyZXMEY2NvZGUDbW9zdHBvcHVsYXIEY3BvcwM3BHBvcwM3BHNlYwN5bl90b3Bfc3RvcmllcwRzbGsDYmFua3NzaH

[AllentownJake]

1. So the fund is at - 1 billion now give or take? nt

[happyslug]

2. FDIC Failed Bank List

http://www.fdic.gov/bank/individual/failed/banklist.html

[ShockediSay]

3. Of course, those big banks that sold for big commissions and bonuses, then

shorted against the box {bet against those investments they sold} had nothing to do with it all

[Vidar]

4. A pity it isn't AIG, GoldmanSachs, JPMorgan & CitiBank being shuttered

[NecklyTyler]

5. George Bush - best investment bankers ever made

[Supersedeas]

6. One of the morning shows went on and on about how bailout stabilized the banking system

Now, money is so easy to borrow again.