Five more banks failed Friday – including the subsidiaries of Bank of Florida Corp. – costing the government an additional $317 million.

The failures hit three separate states and brought the year’s failure toll to 78. State regulators shuttered Bank of Florida’s three units – totaling $1.5 billion of assets – in Naples, Fort Lauderdale and Tampa. Later, the government announced the seizures of $103 million-asset Granite Community Bank in Granite Bay, Calif., and $360 million-asset Sun West Bank in Las Vegas.

The Bank of Florida closures were long expected after the company – in dire need of capital – had received repeated enforcement orders from regulators.

EverBank, in Jacksonville, agreed to take over the company’s three banks, assuming all of their $1.3 billion of deposits and acquiring roughly all of their assets. Bank of Florida-Southeast in Fort Lauderdale had $595 million of assets and $532 million of deposits; Bank of Florida-Southwest in Naples had $641 million of assets and $560 million of deposits; and Bank of Florida-Tampa Bay had $245 million of assets and $224 million of deposits.

The three failures together were estimated to cost the FDIC about $203 million.

The company disclosed Wednesday that the three banks, which were all critically undercapitalized, had received consent orders from the FDIC. The orders came more than a month after the expiration of prior prompt corrective action directives against the institutions.

EverBank entered into loss-sharing deals with the FDIC for portions of each bank’s portfolios. The acquirer and the agency will share losses on $437 million of Bank of Florida-Southeast’s assets, $568 million of Bank of Florida-Southwest’s assets and $211 million of Bank of Florida-Tampa Bay’s assets.

Meanwhile, the FDIC said Granite Community, a national bank, was sold to Tri Counties Bank in Chico, Calif. The acquirer agreed to assume all $94 million of the failed bank’s deposits, and acquire essentially all of its assets. Tri Counties will share losses with the FDIC on $89 million of those assets. The failure was estimated to cost the government about $17 million.

City National Bank, in Los Angeles, agreed to assume all of Sun West’s $354 million of deposits – paying a 0.67% premium – and acquire essentially all of its assets. City National and the FDIC will share losses on $280 million of those assets. The cost of the resolution was estimated at $96.7 million.

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