State regulators closed $70 million-asset Bank of Wyoming late Friday in the 53rd failure of the year.

The failed bank, based in Thermopolis, will reopen for normal business hours as a branch of Central Bank & Trust in Lander, which agreed to assume all $59 million of Bank of Wyoming's nonbrokered deposits.

The acquirer also agreed to take roughly $55 million of the failed bank's assets.

The Federal Deposit Insurance Corp., appointed as Bank of Wyoming's receiver by the state's banking department, will pay the bank's $8 million of brokered deposits directly.

The lone failure Friday gave the FDIC something of a respite. On July 2, the agency had to handle seven failures, which was the most to occur in one evening since October 1992. All but one of those closings occurred in Illinois. Two weeks ago, on June 26, regulators shuttered five institutions.

The Bank of Wyoming's failure is estimated to cost the agency $27 million.

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