Publication Date:
Sun, 2011-01-09 01:15
Last year, 157 banks failed, exceeding the 140 failures in
2009. The bulk of the
failures have increasingly been smaller institutions, each with less than a
billion dollars in assets, as large banks have recovered more quickly from the
2007-2009 financial crisis.
The Federal Deposit Insurance Corp. announced the following
closure on Friday: First Commercial Bank of Florida. Had assets of $598.5
million and $529.6 million in total deposits. First Southern Bank of Boca
Raton, Florida is to assume the deposits.
Legacy Bank of Scottsdale, Arizona. Had assets of $150.6
million and $125.9 million in total deposits. Enterprise Bank & Trust of
St. Louis, Missouri is to assume the deposits.
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