WASHINGTON-The FDIC took over four more bank failures last week, making a total of 69 through the end of July.
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The latest failures are: Mutual Bank, a $1.6 billion bank in Harvey, Ill.; Peoples Community Bank, a $706 million institution in West Chester, Ohio; First State Bank of Altus, a $103 million bank in Altus, Okla.; Integrity Bank, a $119 million Juniper, Fla., institution and First BankAmericano, a $166 million Elizabeth, N.J., bank.
The two Illinois failures make a total of 17 in that state this year.
The cost to resolve the five failures, which were sold off to healthy banks by the FDIC, is more than $900 million.
The FDIC took over 24 banks in July, and is on pace for 150 bank failures for 2009.
