Four More Banks Shuttered

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WASHINGTON – Regulators closed banks in California, Florida, Wisconsin and Michigan Friday, making a total of 18 bank failures so far in 2011.

Friday’s failures were: $390 million Peoples State Bank, Hamtramck, Mich.; $210 million Canyon National Bank, Palm Springs, Calif.; $125 million Sunshine State Community Bank, Port Orange, Fla., and $84 million Badger State Bank, Cassville, Wis.

The latest failures are projected to cost the FDIC’s Bank Insurance Fund $145 million in losses.

 

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