WASHINGTON, Nov. 20 (UPI) -- U.S. bank failures totaled 149 for 2010 by the end of the week, federal bank regulators said.
With failures of the First Banking Center in Wisconsin, the Gulf State Community Bank in Florida and the Allegiance Bank of North America in Pennsylvania, the Federal Deposit Insurance Corp. said bank failures for the year were now nine ahead of the total number of failures posted in 2009, The Wall Street Journal reported Saturday.
First Michigan Bank will assume the deposits from First Banking Center. Centennial Bank will take over Gulf State Community Bank's deposits and most of their assets. VIST Financial Corp., of Wyomissing, Pa., will take charge of Allegiance Bank's deposits, the FDIC said.
The FDIC insures deposits up to $250,000 per depositor. The cost of the three failures for the FDIC would be about $200 million, the bank regulator said.
