WASHINGTON – Regulators closed banks in Georgia, Illinois, Missouri and Michigan on Friday, making a total of 72 failures so far this year, exceeding the pace of last year when 140 banks went down.
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Friday’s failures were: Midwest Bank and Trust, a $3.2 billion institution based in Elmwood Park, Ill.; Southwest Community Bank, a $97 million Springfield, Mo., institution; New Liberty Bank, a $110 million bank in Plymouth, Minn.; and, Satilla Community Bank, a $136 million Saint Mary’s, Ga., bank.
