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Four more community-based lenders have been seized by regulators. That brings this year's ""tally of failed institutions"":http://www.fdic.gov/bank/individual/failed/banklist.html to 84.
But the number of fallen banks in the U.S. continues to lag behind the 139 closures recorded at this time during 2010. Officials with the FDIC say bank failures have peaked and are expected to continue to decline as the financial sector returns to health.
[IMAGE] [COLUMN_BREAK]This latest round of closings claimed two lenders in Georgia and one each in Colorado and Florida, costing the FDIC a combined $358.8 million.
The FDIC brokered a deal with Bank Midwest, N.A. out of Kansas City, Missouri, to take over the operations of the failed Community Banks of Colorado, headquartered in Greenwood. Community Banks of Colorado had 40 branches, with $1.33 billion in deposits and assets totaling $1.38 billion.
Boca Raton, Florida’s 1st United Bank picked up the seven branches of Old Harbor Bank, based in Clearwater, Florida, as well as its $217.8 million in deposits and $215.9 million in assets.
Georgia’s Decatur First Bank operated five branch locations with $179.2 million in deposits and $191.5 million in assets. It was acquired by Atlanta’s Fidelity Bank.
The two branches of Community Capital Bank in Jonesboro, Georgia, have now become part of State Bank and Trust Company, which is based out of Macon, Georgia. State Bank and Trust also acquired all of Community Capital Bank’s $166.2 million in deposits and $181.2 million in assets.
