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Regulators take over 4 failed U.S. banks

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Published: July 10, 2010 at 10:11 AM
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BALTIMORE, July 10 (UPI) -- Regulators say they closed down four banks in three states Friday, bringing the total number of failed banks taken over in the United States this year to 90.

The small banks, which totaled $560.7 million in deposits and $664.5 million in assets, included two in Maryland and one each in New York and Oklahoma.

In Maryland, the two branches of Bay National Bank were sold to Bay Bank. A buyer was not found for Ideal Federal Savings Bank, which had $5.8 million in deposits. The Wall Street Journal said the Federal Deposit Insurance Corporation approved a $2.1 million insurance payout.

USA Bank in Port Chester, N.Y., was taken over by New Century Bank of Pennsylvania at a cost to the FDIC fund of about $17.4 million.

All 15 branches of Home National in Oklahoma were purchased by RBC Bank. The Journal said the takeover cost the FDIC $61.7 million.

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