Florida

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

For the second time, BankAtlantic Bancorp Inc. in Fort Lauderdale, Fla., has extended an offer to buy its trust-preferred securities back from its holders.

Encore Bancshares in Houston is paying to get out of Florida. The $1.6 billion-asset company announced an agreement last week to sell its six Florida branches, with $231 million in deposits and $86.2 million in loans, in two deals that will cost the company $1 million.

WASHINGTON — The government closed state-chartered banks in New York, Florida and Louisiana late Friday to bring the year's failure tally to 30.

The Federal Reserve Board gave the $200 million-asset Horizon Bank a narrow time frame to raise capital or find a buyer.

TIB Financial Corp. of Naples, Fla., said its fourth-quarter loss widened to $45.1 million from $13.2 million a year earlier.

Institutions in Florida, Illinois, Maryland and Utah failed Friday, bringing the year's total to 26. The failed banks held combined assets of roughly $1.1 billion and their resolution is expected to cost the Deposit Insurance Fund more than $300 million.

Institutions in Florida, Illinois, Maryland and Utah failed Friday, bringing the year's total to 26. The failed banks held combined assets of roughly $1.1 billion and their resolution is expected to cost the Deposit Insurance Fund more than $300 million.

A pair of Florida court rulings will make foreclosures in this hard-hit housing market even more painful for lenders.

EverBank in Jacksonville, Fla., is negotiating to buy a $10 billion package of residential servicing rights from Flagstar Bancorp, according to investment banking sources familiar with the matter.

Small banks face myriad and often frustrating obstacles to acquiring failed banks. But some smart strategies have separated the successful bidders from the rest, including raising excess capital well before a bid, targeting fewer and smaller banks, tracking enforcement actions of potential failures and bringing in well-seasoned management to see a deal through.

WASHINGTON — Four failures late Friday cost the government an additional $1 billion.Among the closings, which brought the year's total to 20, was that of $3.6 billion-asset La Jolla Bank in La Jolla, Calif. The Federal Deposit Insurance Corp. sold La Jolla's operations to OneWest Bank in Pasadena in the second recent deal for the buyers of the failed IndyMac Bank.

The Federal Reserve has ordered Marco Community Bank in Marco Island, Fla., to take steps to raise its capital levels.

Though other banks have worked out deals with the Federal Deposit Insurance Corp. that improved their capital positions through payments to take over a failed bank, few private deals have had such a dramatic effect on a company's capital as Everbank's purchase of Tygris, industry watchers said.

First Southern Bancorp has raised about $400 million to acquire failed banks in the south Florida market. Along with the capital, the company added some well-known bankers.

WASHINGTON — For the second Friday in a row, the Federal Deposit Insurance Corp. relied on new-bank capital to find homes for the operations of failed institutions.

Regulators may be more open to selling failed banks to nontraditional owners — or maybe there are just fewer buyers.

WASHINGTON — Regulators seized five banks in as many states Friday, bringing the 2010 failure total to nine.

First Community Bank Corp. of America is aiming to raise capital to immediately boost capital levels at its thrift and amass cash for further capital needs.

Seven failed banks holding a combined $14 billion in assets failed Friday in what was yet another busy night for the Federal Deposit Insurance Corp.