It was another light Friday for the Federal Deposit Insurance Corp.
Following two weeks with no bank failures, the FDIC was called in to resolve just one collapse Friday evening, that of the $188 million-asset Horizon Bank in Bradenton, Fla.
The failure, the 119th this year and the 23rd in Florida, was estimated to cost the FDIC nearly $59 million.
The agency said Bank of the Ozarks in Little Rock had agreed to assume all of Horizon's $164.6 million in deposits and to acquire essentially all of its assets. The acquirer will share losses with the FDIC on about $150.4 million of those assets.
Bank failures appear to have eased up considerably after a busy summer for the agency. Although Friday's closure was the first in three weeks, regulators had shuttered 32 institutions since the beginning of July.
The FDIC has projected that closures this year will exceed 2009's total of 140, and that 2010 will be a peak year for failures stemming from the financial crisis.