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Four banks in separate states shut down

SAN DIEGO, Feb. 20 (UPI) -- The number of U.S. financial institutions shuttered in 2010 increased to 20 with the closures of four banks in separate states, authorities said.

The Federal Deposit Insurance Corp. said among Friday's closures was the La Jolla Bank in the San Diego, Calif., area. OneWest Bank of Pasadena, Calif., will assume control of the bank's $2.8 billion in deposits, Marketwatch said.

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The Office of Thrift Supervision closed the California bank and a loss-share transaction on $3.3 billion of La Jolla's $3.6 billion in total assets was entered into by OneWest.

Meanwhile, the banking division of the Illinois Department of Financial Professional Regulation closed George Washington Savings Bank of Orland Park, Ill., Friday. FirstMerit Bank of Akron, Ohio, will assume control of the Illinois bank's assets.

Marketwatch said La Coste National Bank of La Coste, Texas, and Marco Community Bank of Marco Island, Fla., were the other two banks shuttered Friday.

La Coste's deposits will fall under the control of Community National Bank of Hondo, Texas, while Marco's deposits will be controlled by Mutual of Omaha Bank.

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