WASHINGTON – Banking regulators on Friday closed six community banks, making a total of 15 failures already in 2010.
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Friday's failures are expected to cost the FDIC insurance fund a total of $1.9 billion.
Friday’s failures include: $2.2 billion First Regional Bank of Los Angeles; $1.2 billion Community Bank and Trust in Cornelia, Ga.; $760 million First National Bank of Georgia, in Carrollton, Ga.; $880 million Florida Community Bank of Immokale, Fla.; $55 million Marshall Bank of Hallock, Minn.; and, $375 million American Marine Bank of Bainbridge Island, Wash.
There have been two credit union failures so far in 2010: Kern Central CU in California and First Service CU in Wisconsin.
