WASHINGTON-Regulators took over four more banks in New York, Florida and Louisiana last week, making a total of 32 bank failures so far this year.
The most recent failures included two in New York, $520 million Park Avenue Bank and $210 million LibertyPoint Bank. Valley National Bank of Wayne, N.J., bought the deposits from both New York failures.
Also failing were Old Southern Bank, a $315 million institution in Orlando, Fla., the state's fifth failure in 2010, and Statewide Bank, a $240 million institution in Covington, La., that state's firth bank failure in seven years.
There were 140 bank failures last year. The pace of bank failures has not reached the levels during the savings and loan crisis, when 534 institutions were seized in 1989.
There have been five credit union failures so far this year, after 28 failures last year.
