Florida

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.

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

When a group of would-be bank organizers recently landed a small Florida institution, they were foreshadowing the near-term future of industry M&A.

Bank of Miami said Wednesday that it has gained more than $11 million of capital this quarter. The $608 million-asset bank in Coral Gables, Fla., said it sold $2.5 million of trust-preferred securities in a private placement with its shareholders and realized a $9 million tax benefit.

Starting Jan. 1 institutions that are less than well-capitalized must comply with new restrictions on deposit rates. They will not be allowed to pay more than 75 basis points over a national average calculated by the Federal Deposit Insurance Corp.

A fresh shot of capital has moved Mercantile Bancorp Inc.'s Florida unit back into regulators' good graces.

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.

Mercantile Bancorp Inc. is shedding half its banks in a series of deals that illustrates the financial contortions some companies need to survive the recession.

Regulators closed Commerce Bank of Southwest Florida Friday, the Sunshine State's third failure in a week.

First National Bank of Florida in Milton has agreed to use core banking technology from Jack Henry & Associates, again.

Bank of Florida in Naples, which is under regulatory pressure to raise capital, has postponed a $135 million stock offering, saying market conditions have deteriorated.