WASHINGTON – Regulators shuttered banks in Florida, Illinois, Maryland and Utah on Friday, raising to 26 the number of bank failures so far this year following the 140 brought down in 2009.
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The FDIC took over $536 million Sun American Bank, based in Boca Raton, Fla., $212 million Bank of Illinois of Normal, Ill., $156 million Waterfield Bank in Germantown, Md., and $215 million Centennial Bank in Ogden, Utah.
FDIC Chairman Sheila Bair has said she expects bank failures to remain high through 2010, even as the economy improves, because the bank industry is continuing to recognize loan losses and clean up their balance sheets.
