Six new bank failures bring the total for the year to 96

Posted: July 20, 2010 in Banks, Failures
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On Friday, Federal and State regulators closed 6 banks, two located in South Carolina, three in Florida and one in Michigan, due to inadequate capital and mounting loan losses. Assets of these six failed banks totaled $2.03 billion. These six bank failures cost the FDIC $334.8 million. Earlier in the month, regulators closed 4 banks. 

Bank Name City State CERT # Closing Date
Mainstreet Savings Bank, FSB Hastings MI 28136 16-Jul-10
Olde Cypress Community Bank Clewiston FL 28864 16-Jul-10
Turnberry Bank Aventura FL 32280 16-Jul-10
Metro Bank of Dade County Miami FL 25172 16-Jul-10
First National Bank of the South Spartanburg SC 35383 16-Jul-10
Woodlands Bank Bluffton SC 32571 16-Jul-10
Home National Bank Blackwell OK 11636 9-Jul-10
USA Bank Port Chester NY 58072 9-Jul-10
Ideal Federal Savings Bank Baltimore MD 32456 9-Jul-10
Bay National Bank Baltimore MD 35462 9-Jul-10

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