Six More Banks Fail

WASHINGTON – After a slowdown in bank closures, regulators shuttered six more banks Friday, making a total of 34 failures for the year.

Friday’s failures included $3 billion Superior Bank of Birmingham, Ala., with 70 branches in Alabama and Florida, the biggest failure of the year so far.

Also failing were: $790 million Nexity Bank, also of Birmingham; $330 million County Bank of Cartersville, Ga.; $224 million Heritage Banking Group of Carthage, Miss.; $110 million New Horizons Bank in East Ellijay, Ga.; and, $40 million Rosemount National Bank in Rosemount, Minn.

Friday’s closures came after there had only been two failures in the previous three weeks.

 

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER