WASHINGTON – Regulator on Friday shut down another seven banks, making 106 failures, the most since 1992. during the end of the S&L crisis.
Processing Content
Regulators took over three small banks in Florida, Partners Bank and Hillcrest Bank, both in Naples, and Flagship National Bank in Bradenton, as well as American United Bank of Lawrenceville, Ga., Bank of Elmwood in Racine, Wis., Riverview Community Bank in Otsego, Minn., and First Dupage Bank in Westmont, Ill.
The 106 failures have cost the Bank Insurance Fund an estimated $25 billion this year.
