Arizona

Two failures in Georgia and another in Arizona late Friday cost the Deposit Insurance Fund about $204 million.

Seven banks failed Friday, bringing the total number of failures this year to within one of the number of failures in all of 2009. So far 139 banks have failed in 2010. Friday's failures are expected to cost the deposit insurance fund a collective $478 million.

Add Capitol Bancorp Ltd. to the list of companies whose recapitalization efforts have been complicated by debtholders who are unwilling to budge.

Capital Bancorp Ltd. said Tuesday that it has completed the sale of its 51% stake in the Bank of San Francisco.

Goldwater Bank in Arizona has agreed to forfeit $733,804 to resolve a claim from U.S. officials that the money was involved in illegal online gambling.

Capitol Bancorp Ltd. has completed another divestiture — this time of its 51% stake in the $64 million-asset USNY Bank in Geneva, N.Y.

Capitol Bancorp Ltd. finds itself in a precarious situation — even though it has spent the past 14 months shedding banks to raise capital.

The $5.1 billion-asset company, which has dual headquarters in Lansing, Mich., and Phoenix, said the agreement is with the local shareholders of its $95 million-asset Bank of San Francisco, which it chartered in 2005.

Capitol Bancorp Ltd., which is trying to harvest capital by selling its unit banks, reported that it was undercapitalized by at least one measure at the end of the first quarter.

Four small banks totaling $730 million in assets were closed late Friday on a relatively light evening for the Federal Deposit Insurance Corp.

The $5.1 billion-asset company, with dual headquarters in Lansing, Mich., and Phoenix, announced Friday that it had entered into stock redemption agreements with the local owners of Fort Collins Commerce Bank, Larimer Bank of Commerce and Loveland Bank of Commerce.

WASHINGTON — Four more banks failed Friday night totaling $1.2 billion in assets and costing the Federal Deposit Insurance Corp. an estimated $320 million.

With regulators pushing for larger provisions for loan losses at its two most troubled banks, Capitol Bancorp Ltd. has revised its 2009 results.

Capitol Bancorp Ltd. said Monday that it has a stock redemption agreement with USNY Bank to sell its 51% interest in the $64 million-asset bank.

President Obama is due to meet today with 11 chief executives of community banks, following up on a meeting with the heads of larger institutions last week.

The selling spree at Capitol Bancorp continues. The company announced Thursday that it has a definitive agreement to sell Mountain View Bank of Commerce in Colorado ...

WASHINGTON — Regulators closed three more banks Friday evening to bring the year's failure total to 133.

Wescom Central Credit Union in Pasadena, still struggling with the Southern California recession, said last week that it plans to shutter another eight branches.

The parent company of AmTrust Bank filed for bankruptcy protection Monday, casting doubt on the future of the Cleveland bank's more than 60 branches.

A new group formed to buy failing banks plans to use its recent deal for tiny, well-capitalized Palisades National Bank as a springboard for further acquisitions.