[UPDATE] Regulators Close Small Banks in Florida, Pennsylvania

UPDATE 11-19-2010 8:25pm
Washington, D.C. (AP) - Regulators have shut down three banks in Florida, Pennsylvania
and Wisconsin, lifting to 149 the number of U.S. banks that have
failed this year as soured loans have piled up and the economy has
limped.
The Federal Deposit Insurance Corp. took over Gulf State
Community Bank in Carrabelle, Fla., with $112.1 million in assets,
Allegiance Bank of North America in Bala Cynwyd, Pa., with $106.6
million in assets, and First Banking Center, based in Burlington,
Wis., with $750.7 million in assets.
Centennial Bank, based in Conway, Ark., agreed to assume the
assets and deposits of Gulf State Community Bank. Vist Bank, based
in Wyomissing, Pa., is acquiring the assets and deposits of
Allegiance Bank, while First Michigan Bank, based in Troy, Mich.,
is assuming the assets and deposits of First Banking Center.

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Washington, D.C. (AP) - Regulators have shut down small banks in
Florida and Pennsylvania, lifting to 148 the number of U.S. banks
that have failed this year as soured loans have piled up and the
economy has limped.

The Federal Deposit Insurance Corp. on Friday took over Gulf
State Community Bank in Carrabelle, Fla., with $112.1 million in
assets, and Allegiance Bank of North America in Bala Cynwyd, Pa.,
with $106.6 million in assets.

Centennial Bank, based in Conway, Ark., agreed to assume the
assets and deposits of Gulf State Community Bank. Vist Bank, based
in Wyomissing, Pa., is acquiring the assets and deposits of
Allegiance Bank.

(Copyright 2010 by The Associated Press. All Rights Reserved.)


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