WASHINGTON-Regulators recently shut down banks in Florida, Missouri, New Mexico, Oregon and Washington, bringing to nine the number of bank failures so far in 2010, following 140 closures last year.
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Among the failures were: $1.2 billion Charter Bank, in Santa Fe, N.M., $1.1 billion Columbia River Bank, in The Dalles, Ore.; $490 million Evergreen Bank, in Seattle; $350 million Premier American Bank, in Miami; and, $20 million Bank of Leeton, in Leeton, Mo.
The failures marked the expansion of private equity sales for failed institutions, with investment funds agreeing to acquire the healthy assets of both Charter Bank and Premier Bank.
