Regulators shut small Florida bank, 17th in 2010

Source: AP

Friday, February 19, 2010; 6:27 PM

WASHINGTON -- Regulators on Friday shut down a small bank in Florida, boosting to 17 the number of U.S. bank failures this year following the 140 closures last year in the worst financial climate in decades.

The Federal Deposit Insurance Corp. took over Marco Community Bank, based in Marco Island, Fla. The bank had about $119.6 million in assets and $117.1 million in deposits.

Mutual of Omaha Bank, based in Omaha, Neb., agreed to assume the assets and deposits of the failed bank.

In addition, the FDIC and Mutual of Omaha Bank agreed to share losses on $104.8 million of Marco Community Bank's loans and other assets.

The failure of Marco Community Bank will cost the deposit insurance fund an estimated $38.1 million.



Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/02/19/AR2010021904381.html

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http://www.fdic.gov/bank/individual/failed/banklist.html

West Coast still to come.

But wait, there's more.

Looks like today's count is four.

:kick:

:)

with the four banks closed today.