WASHINGTON – The FDIC Friday took over five more failed banks, making a total of 45 for 2009.
Friday’s failures include two more in Georgia, which leads the nation with 14 over the past 12 months.
The banks taken over Friday include two Atlanta area institutions, $222 million Neighborhood Community Bank of Newnan and $182 million Community Bank of West Georgia in Villa Rica.
The other failures are: Horizon Bank of Pine City, Minnesota ($90 million); MetroPacific Bank of Irvine, California ($80 million); and Mirae Bank of Los Angeles ($450 million) were closed yesterday by state regulators, according to statements from the Federal Deposit Insurance Corp.
The total cost of Friday's bank failures to the FDIC is $264.2 million, bringing the total for this year to $11.94 billion. That compares with $17.6 billion in all of 2008.
The number of bank failures so far this year has already exceeded last year's total of 25, with an average of seven failures per month.
