$12B AmTrust Bank, 5 Others Seized, 130 Failures this Year

WASHINGTON-Regulators seized six more banks, making a total of 130 bank failures in 2009. The FDIC said regulators closed three banks in Georgia, bringing the number of bank failures in that state this year to 24, and one each in Illinois, Ohio and Virginia. Among the recent closures, the biggest was $12-billion AmTrust Bank. The New York Community Bank of Westbury, New York, assumed its deposits. The other five banks had assets of less than $1 billion. They are Benchmark Bank of Illinois, Greater Atlantic Bank of Virginia and the three banks in Georgia-Tattnall Bank, Buckhead Community Bank, and First Security National Bank. The six failures are expected to cost the FDIC's insurance fund a total of more than $2.3 billion.

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