WASHINGTON – Regulators seized another eight banks Friday, making a total of 51 bank failures in 2010.
TD Bank, a unit of the Canadian banking giant Toronto Dominion Bank, acquired three of the failures, all in Florida: $3.4 billion AmericanFirst Bank in Clermont; $90 million Riverside National Bank in Fort Pierce; and, $393 million First Federal Bank of North Florida in Palatka.
Friday’s failures also include: $1.1 billion City Bank in Lynnwood, Wash.; $630 million Tamalpais Bank in San Rafael, Calif.; $270 million Innovative Bank in Oakland, Calif.; $270 million Butler Bank in Lowell, Mass.; and, $53 million Lakeside Community Bank in Sterling Heights, Mich.
There were 140 bank failures last year.
There were 28 credit union failures last year and five so far in 2010.
