- WASHINGTON: The Federal Deposit Insurance Corp said on Friday that US regulators closed six more banks, bringing the total so far this year to 138.
The biggest was Hillcrest Bank of Overland Park, Kansas, which had approximately $1.65 billion in total assets and $1.54 billion in total deposits.
Regulators also closed First Suburban National Bank of Maywood, Illinois; First National Bank of Barnesville, Barnesville, Georgia; Gordon Bank, Gordon, Georgia; Progress Bank of Florida, Tampa, Florida; and First Bank of Jacksonville, Jacksonville, Florida.
A newly-chartered bank subsidiary of NBH Holdings Corp., Boston, Massachusetts will assume all of the deposits of Hillcrest Bank.
The new NBH subsidiary, also called Hillcrest Bank, also agreed to purchase essentially all of the failed bank's assets, the FDIC said.
First Suburban National Bank had about $148.7 million in total assets and $140.0 million in total deposits.
Seaway Bank and Trust Company, Chicago, Illinois assumed all of First Suburban's deposits and agreed to purchase essentially all of the failed bank's assets.
First National Bank of Barnesville had approximately $131.4 million in total assets and $127.1 million in total deposits.
United Bank of Zebulon, Georgia assumed all of the Barnesville bank's deposits and agreed to purchase essentially all of the assets.
Gordon Bank had approximately $29.4 million in total assets and $26.7 million in total deposits.
Morris Bank of Dublin, Georgia paid a premium of 0.5 percent for the deposits of Gordon Bank and agreed to purchase about $11.5 million of the failed bank's assets. The FDIC will keep the remaining assets for later disposition.
Progress Bank of Florida had approximately $110.7 million in total assets and $101.3 million in total deposits.
Bay Cities Bank of Tampa, Florida assumed all of Progress Bank's deposits and agreed to purchase essentially all of the failed bank's assets.
First Bank of Jacksonville had approximately $81.0 million in total assets and $77.3 million in total deposits.
Ameris Bank of Moultrie, Georgia assumed all of the Jacksonville bank's deposits and agreed to purchase essentially all of the failed bank's assets.
FDIC Chairman Sheila Bair has said she expects the number of bank failures this year to exceed the 2009 total of 140, but that total assets of the failures will probably be lower.
This week, the FDIC said estimated bank failures will cost the Deposit Insurance Fund $52 billion from 2010 through 2014, down from an earlier estimate of $60 billion.
The Deposit Insurance Fund, financed by banks that pay into the fund, guarantees individual accounts up to $250,000.
While failures are still occurring at a fairly brisk pace, it is now mostly smaller institutions, community banks, that have been collapsing.
Washington Mutual, which had $307 billion in assets when it was seized in September 2008, remains the largest bank to fail during the financial crisis.

