WASHINGTON-Banking regulators closed six community banks, making a total of 15 failures already in 2010. The most recent failures are expected to cost the FDIC insurance fund a total of $1.9 billion. They include: $2.2-billion First Regional Bank of Los Angeles; $1.2-billion Community Bank and Trust in Cornelia, Ga. and $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 CU failures so far in 2010, that of Kern Central CU in California, and First Service CU in Wisconsin.
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