WASHINGTON — State and federal regulators shut three banks late Friday — $538 million-asset Warren Bank in Michigan, $56.3 million-asset Jennings State Bank of Spring Grove, Minnesota and $39.5 million-asset Southern Colorado National Bank in Pueblo — bringing this year's failure total to 98.

Failures in 2009 are now nearly four times their total from last year, with many more expected this year. The Federal Deposit Insurance Corp. said this week that it expects failures to cost $100 billion over the next four years, up from a $70 billion estimate in May. As a result, the agency is planning to require banks to prepay three years worth of premiums to ensure it has sufficient liquidity to deal with more failures.

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