WASHINGTON – Three banks with total deposits of $2.3 billion were seized by regulators amid losses stemming from soured real-estate loans, raising to 81 the number of banks that have collapsed this year.
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Friday’s failures included TierOne Bank, a $2.8 billion institution in Lincoln, Neb., which was the first failure of a Lincoln-based institution since 1999, when Nebraska Teacher's CU was closed due to the embezzlement of several hundred thousand dollars by an employee.
Also seized Friday were: First National Bank, a $60 million institution in Rosedale, Miss., and Arcola Homestead Savings Bank, a $17 million bank in Arcola, Ill.
There have been 12 credit union failures so far this year.
