Bank regulators announced the failures two more banks on Friday, bringing the total number seized this year up to 25. Last year only 2 banks had been shut down by April.
HousingWire gives us these details:
- The Office of Thrift Supervision closed Sugar Creek, Mo.-based American Sterling Bank, naming FDIC as receiver. The FDIC entered a purchase and assumption agreement with Lee’s Summit, Mo.-based Metcalf Bank, which agreed to purchase all of the failed bank’s deposits. American Sterling, the 24th bank to fail in ’09, had $181m in total assets and $171.9m in deposits as of late.
- he Nevada Financial Institutions closed Elko, Nev.-based Great Basin Bank of Nevada, naming FDIC as receiver. The FDIC entered a purchase and assumption agreement with Las Vegas-based Nevada State Bank. Great Basin, the 25th bank to fail in ’09, had $270.9m in total assets and $221.4m in deposits as of year-end ’08.
More at HousingWire, including the official statements from the regulators.