Regulators shut 4 banks; 72 have failed this year

[OhioChick]

Source: AP

3 hours ago

WASHINGTON — Regulators have shut down Midwest Bank and Trust Co. in Elmwood Park, Ill.

The Federal Deposit Insurance Corp. says Friday it took over Midwest Bank and Trust, which has about $2.4 billion in deposits and $3.2 billion in assets.

The FDIC also closed three smaller banks in Georgia, Michigan and Missouri on Friday, bringing the total number of U.S. bank failures this year to 70.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

WASHINGTON (AP) — Regulators on Friday shut down small banks in Georgia and Michigan, bringing the number of U.S. bank failures this year to 70.

The Federal Deposit Insurance Corp. took over Satilla Community Bank, based in Saint Marys, Ga., with about $134 million in deposits and $135.7 million in assets.

The FDIC also took over New Liberty Bank in Plymouth, Mich. The bank has about $101.8 million in deposits and $109.1 million in assets.



Read more: http://www.google.com/hostednews/ap/article/ALeqM5gg9RS-ZvzlfzrcnujKaEDMXrYyYgD9FMTPI00

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